Sued by LVNV Funding, Midland Credit Management, Portfolio Recovery Associates, Cavalry SPV, or Jefferson Capital Systems?
"Junk Debt Buyers" buy debts that have been charged off by the original creditor. Sometimes debts are purchased and sold several times. Some common debt buyers who file lawsuits in Florida are LVNV Funding, Midland Credit Management, Portfolio Recovery Associates, Cavalry SPV, and Jefferson Capital Systems. Debt buyers usually pay 2-5 cents per dollar of debt purchased - only 20 to 50 dollars per thousand dollars of debt. They commonly purchase thousands of accounts at the same time and sue the parties they believe owe the debt. Thousands of lawsuits are filed in Florida every year by debt buyers. It is important that you have a skilled Law Firm to help you fight back.
The absolute WORST thing you can do if you are sued by one of these companies is to ignore the lawsuit. That is EXACTLY what they want you to do because they will win by default. Once a creditor obtains a default judgment they can:
- Garnish your wages
- Take money from your bank account
- Place a lien on your house
- Take property you have or acquire such a a car
Their business model is to file as many lawsuits as possible and collect on as many as they can with the smallest possible expense.
- This business model works - approximately 90% of these lawsuits result in default judgment because the person being sued does not respond.
- This business model is reckless - Portfolio Recovery Associates' vice president for collections testified as to how they verified that the amounts sued for by Portfolio were correct; "We don't. Ninety percent of our cases are default judgments. We show the judge the math and if no one disputes, we get our judgment"
A Judgment Could Haunt You For 20 Years
If you think "I don't need to worry about this because I don't have any wages, money, a car or a house," PLEASE think again.
Do you hope to have these things in the next 20 years?
It is much easier to defend or settle the case before a judgment. A judgment can only be set aside under very limited circumstances. And once the creditor gets a judgment, they don't warn you before they freeze your accounts, start garnishment proceedings or place a lien on your house or car.
Know Your Rights: Prohibited Debt Collection Practices Under Federal Law
The federal Fair Debt Collection Practices Act (FCPA), applicable in every state, forbids debt collectors from undertaking certain activities, regardless of the validity of the debt, including:
- Calling you early in the morning or late at night (generally, before 8 in the morning or after 9 at night)
- Contacting you at your office or workplace. This practice is illegal even if you consent to it, unless your employer also agrees
- Contacting you after you have referred them to your attorney. Once you have referred them to your attorney, they must speak only with your attorney.
The FCPA prohibits many other harassing activities by debt collectors.
We'll fight for you!
Junk Debt Buyers do not want to get into a legal battle and they certainly don't want you to hire an attorney. Many times the debt collector does not have the documents they need to prove the case at trial. Sometimes they file the case after the statue of limitations has run.
Many times it is obvious upon a quick reading of the documents filed in the lawsuit that the debt collector will have serious problems proving it's case. In some cases, the debt collector may have violated Florida or Federal law. When this happens, they may liable for money damages and fees and costs to defend the lawsuit.
At Holland Law Group, we will aggressively defend your rights. We offer a free consultation during which we will discuss possible defenses you may have to any debt buyer lawsuits against you and other debt problems you may have. We take calls until 7pm on weekdays and 9am to 3pm on Saturdays. If you prefer to meet face to face, we can do that during regular business hours. Click here to view our main offices and appointment-only locations. Contact us today for your free phone or in-office consultation!
Click here to schedule a free consultation or call us at (941) 744-5450.
