Sued by Velocity Investments, LLC?

Have you received a lawsuit from Velocity Investments, LLC for a debt? Or have you been served with a garnishment or bank levy notice by a Georgia Sheriff or Process Server? Is Velocity Investments attempting to collect on an old credit card or medical debt? Do you have doubts about the debt’s validity or its accuracy in terms of balance? Are you uncertain whether the debt is beyond the statute of limitations and how that might impact your rights?

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At Diwan Law, LLC, our team of debt defense attorneys assists individuals in resolving their defaulted debts. We protect consumers against unlawful debt collection practices and shield them from abusive and deceptive collection tactics. Even if you’ve defaulted on your debt with Velocity Investments LLC for many years, it’s never too late to seek assistance. As debt relief attorneys, we can provide guidance on all legal avenues, including debt defense, disputing, consolidation, reduction, settlement, and bankruptcy.

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Background Information on Velocity Investments LLC

Founded in 2003, Velocity Investments LLC is a debt purchaser specialising in purchasing portfolios of defaulted debt and pursuing collections, sometimes resorting to lawsuits to recover old credit card debts. Upon obtaining a judgment, they may pursue various remedies such as wage garnishment, bank levy, or placing liens on real property where applicable.

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What is a “Debt Buyer”?

In today’s economic landscape, numerous creditors, ranging from credit card companies to medical providers, utilities, phone companies, banks, and lenders, routinely transfer old debts they’ve struggled to collect to debt buyers. These creditors bundle these aged debts into portfolios, which they then sell to debt buyers at a fraction of their original value, often for mere pennies on the dollar. It’s not uncommon for debt buyers to acquire these debts for less than five cents on each dollar owed.

When purchasing these portfolios from creditors, debt buyers typically obtain an electronic file, referred to as a “datastream,” containing information about the debts within the portfolio. However, they generally do not acquire copies of individual contracts or account statements to verify the validity of the debts listed in the portfolio.

Once in possession of the old debt portfolio, the debt buyer may take aggressive measures to collect payment from the individuals associated with the debts or sell the portfolio to another debt buyer. In their collection efforts, debt buyers often employ broad tactics to locate individuals with outstanding debts.

Reports have emerged of citizens being targeted by debt purchasers for debts that do not belong to them. Instances include individuals being pursued for repayment of credit card bills from cards they never owned. Others recount being pursued for debts that were previously settled, victims of identity theft, or debts that were discharged through bankruptcy or have exceeded the statute of limitations for legal action.

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Velocity Investments LLC purchases bulk portfolios of defaulted debt at significant discounts, sometimes including Zombie or Junk debt. They often buy these debts, intending to pursue lawsuits to collect the entire alleged balance.

Some of the law firms in Georgia that may have filed lawsuits on behalf of Velocity Investments LLC include Mandarich Law Group and Ragan & Ragan, PC.

Georgia Debt Lawyers

Our Georgia debt lawyers have extensive experience in handling lawsuits and debt collection efforts initiated by Velocity Investments, LLC, on behalf of our clients. In most cases, we are either able to get the case dismissed or resolve your debt through a settlement at a reduced amount, resulting in substantial savings compared to the outstanding balance.

Our debt settlement lawyers are well-versed in the intricacies of debt collection laws in Georgia and can advocate for you to achieve the best possible resolution.

Contact Diwan Law, LLC, to explore the options available in your situation.

Whether you’re dealing with Velocity Investments LLC or any other debt collector operating in Georgia, our debt relief lawyers can present your case effectively to negotiate a debt settlement or consolidation. Debt settlement offers a potential solution to avoid bankruptcy while reducing the amount owed.