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Sued by Velocity Investments?
Velocity Investments lawsuits are common in Pennsylvania. Velocity is a debt buyer that files many types of collection lawsuits, including credit card lawsuits, personal loan lawsuits, and other debt lawsuits. Velocity usually can’t prove the cases it files. That means you have a high chance of winning a Velocity Investments lawsuit.
If you’re getting sued by Velocity Investments, call us for help. We charge flat fees and refund our fee if we lose. To get a free case review from our debt defense attorney, call us or complete our free case review form.
Let us answer your debt defense questions:
Why is Velocity Investments suing me?
When consumer debt becomes severely delinquent, creditors often charge-off the account. Sometimes, they try to collect the account themselves. Other times, they sell the account to a third-party “debt buyer.”
Velocity Investments is one of the “debt buyers” that purchases delinquent consumer accounts. Velocity buys loans from Prosper Funding LendingClub OneMain Financial, Upgrade, and various other lenders.
Debt buyers like Velocity usually purchase old debt at steep discounts. The Federal Trade Commission (FTC) stated debt buyers paid 4 cents on the dollar for old debt and the Consumer Financial Protection (CFPB) stated one debt buyer paid 3 cents on the dollar for old debt. After Velocity buys debt at deep discounts, it attempts to collect debt for profit.
In Pennsylvania, Velocity Investments sues hundreds of people each year. Throughout the whole United States, debt buyers like Velocity file hundreds of thousands of lawsuits each year. Velocity Investments files so many lawsuits for one reason: it wants to profit off bad debts.
Can I win if I get sued by Velocity Investments?
We generally win Velocity Investments lawsuits because: 1) Velocity hires “appearance attorneys” to attend court hearings; 2) Velocity doesn’t have the documents required by Pennsylvania law; and/or 3) Velocity doesn’t have witnesses with knowledge of the case.
Appearance lawyers, deficient documents, and witnesses without knowledge are not enough for Velocity to win against you:
The specific strategy we use to win Velocity Investments lawsuits differs depending on whether your case is filed in a magistrate or common pleas court. Our strategy also may change depending on whether you’re dealing with a credit card lawsuit, personal loan lawsuit, auto loan lawsuit, or some other type of collection lawsuit.
What is the likelihood of winning a Velocity lawsuit?
Generally, it’s highly likely you’ll win a Velocity Investments lawsuit. In fact, we’ve won all of the Velocity lawsuits we’ve defended.
To gauge your chance of success in a particular case, we evaluate numerous factors including:
If you’re getting sued by Velocity Investments, call us or complete our contact form for a free case review.
Can I ignore a Velocity lawsuit?
You probably shouldn’t ignore a Velocity Investments lawsuit. If you do, a default judgment may be entered against you. A “default judgment” is a court order that you owe the debt Velocity claims you owe. After such a judgment is entered, debt collectors can seize property and garnish bank accounts.
Some people ignore collection lawsuits because they think they don’t owe the debt or already paid it, or because they think the debt is too old. Don’t do this. Court’s won’t analyze a lawsuit to make sure it’s not defective. If you ignore a Velocity lawsuit, they may win without even showing up. Then, you’ll owe a debt you shouldn’t owe.
Can you help if Velocity Investments is suing me?
Yes. We’ve won every Velocity Investments lawsuit we’ve defended. That means our clients haven’t paid any money to Velocity.
In addition to winning your case, here’s other services we provide when you hire us to defend you:
These services are provided at no extra charge.
To see how we can help you or what we can do for you, call us today or complete our contact form for a free case evaluation.