“How easy is it to beat Velocity Investments LLC in Alabama?”

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“How easy is it to beat Velocity Investments LLC in Alabama?”

"How easy is it to beat Velocity Investments LLC in Alabama?"

Velocity Investmenst LLC is a debt buyer/debt collector out of New Jersey.  They claim to buy debt and then they sue in Alabama on about 10% of the debts they collect.  The other 90% are collected without a lawsuit.

Whenever you are sued, whether you can win or not depends on a number of factors.

What are you suing you on?  A credit card or old car loan?

Are you handling this on your own or hiring a lawyer experienced with fighting Velocity?

This article and video are related to car loans that Velocity claims to own and now they have sued you.

If it’s been over 4 years since you last paid on the debt, then we have a great statute of limitations defense.

You have 5 options when you’re dealing with a debt collector.

1. File bankruptcy — this is rarely a good option, but it depends on your unique circumstance.

2. Fight it on your own — this is an option that may work for you if you know what you’re doing.

3. Settle it on your own — this is where you would sit down with the collection lawyer and settle by either paying a lump sum or setting up a payment plan.

4. Hire a lawyer to fight it — this is where a lawyer will take care of your case against the collector, which is a good option if they know what they’re doing.

5. Hire a lawyer to settle it — this is where you would hire an attorney to work out a settlement plan between yourself and the collector.

(You can read a more in-depth discussion and watch a video here).

It also depends on how well you know the law.

You have to be familiar with the arguments that the collection lawyers will make.

If you hire an attorney, and they know what they’re doing, it’s fairly easy to beat these guys.  Part of this is because they normally are way down the line of purchasing the debt.  So the original creditor is the dealership.  Who then sells to Citifinancial.  They sell to Santander.  Who supposedly transfers to Cascade Capital.  Who then allegedly sells to Velocity.  That is a lot of steps Velocity must prove to show it owns the debt.

Do keep in mind that in every trial, one person will win and one person will lose.

If you have any questions…

We’d be glad to chat with you.

You can reach us by phone at 1-205-879-2447.

Or, if you prefer, you can fill out a contact form and we will get in touch with you. 

We would be glad to help you figure out your best course of action.

Thanks for reading, and have a great day!

-John G. Watts

PS — you might find it interesting to read about the five secrets debt buyers don’t want you to know about when they sue you in Alabama.

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