Velocity Investments LLC
About Velocity Investments LLC
According to its website, “Founded in 2003, Velocity Recoveries has more than a decade of experience using a comprehensive collection strategy to convert distressed receivables to cash.”
Under the name Velocity Investments LLC, Velocity regularly debt lawsuits. They will then attempt to obtain a judgment and pursue post-judgment collection efforts.
Is Velocity Investments LLC a Scam?
Velocity Investments LLC is not a Scam. It is a legitimate debt buying and collection company, so it is important to take collection action by them seriously. However, even though it is not a scam company, it is important to ensure that there is evidence and documentation to support the balance Velocity Investments LLC claims is owed, to ensure that Velocity Investments LLC owns the account in question, and to ensure Velocity Investments LLC has followed state and federal law when attempting to collect a debt.
What Should I Do If Velocity Investments LLC Sues Me?
- It is important to ensure that an answer to the lawsuit is timely filed after you are served with the lawsuit. DO NOT IGNORE A LAWSUIT!
- Ensure Velocity Investments LLC has proof of the claimed debt amount and ensure the amount is accurate (confirm all payments and offsets have been applied)
- Ensure Velocity Investments LLC has sufficient evidence to prove ownership of the debt
- Ensure suit was filed within the statute of limitations
- Assert all other possible affirmative defenses
- Review all collection activity by Velocity Investments LLC to ensure there are no potential counterclaims for violation of the Fair Debt Collection Practices Act or Texas Debt Collection Act
- Determine whether to fight the case or pursue a settlement resolution
You may want to seek the advice of a knowledgeable consumer defense attorney to ensure your rights are protected and ensure you do not end up with an adverse outcome that could have been avoided or minimized. Contact us for a free consultation!