Velocity Investments
Velocity Investments is a New Jersey based junk debt buyer. They typically buy accounts from Cross River Bank and FinWise Bank. These accounts are almost always personal loans that are serviced by a company called Upstart or Upgrade. The accounts are bought for pennies on the dollar, and once an account is sold, the original lender no longer has any rights to the accounts.
Most of the lawsuits are filed in the county Court of Common Pleas. Our strong recommendation is that you consult with and then hire a knowledgeable consumer attorney to defend your interests against these debt buyers. You should not contact Velocity by yourself. Anything that you say to them can be recorded and potentially used against you in a court of law. For the most part, the law is on your side if you’re sued in Pennsylvania by a junk debt buyer. Due to these laws, Velocity will have a difficult time in proving that it actually owns your account, and further, they will have a difficult time in getting the court to accept their evidence.
A Velocity Investments case is not one that you should represent yourself on. If you attend a court hearing, their attorney will put you on the stand and use your own testimony against you. They will also use you to get their documents into evidence before the court. This is why hiring a consumer attorney is so important, to make sure that you receive all of the benefits afforded by statutory law and case law.
Throughout the collection process, Velocity Investments or its attorneys might contact you several times via phone or mail. Keep notes of all phone calls, including date, time, who you spoke to, which account was discussed, and what was discussed. Make sure to keep all letters from Velocity(be sure to keep the envelopes that they come in) so that we can review them for discrepancies or rights violations. There are many instances where these letters violate your legal rights and when that occurs we can take the offensive against Velocity. If a representative of Velocity has contacted your neighbors, employer or relatives, or has threatened wage garnishment, or has committed any other illegal act, please contact our office immediately.
Our firm has a great deal of experience in defending collection cases. If you have been sued in any Pennsylvania county, by Velocity Investments or another collection agency, our firm can help you defend this claim at minimal cost, with a great chance at success. Contact our office here or call us at 412-348-8600. We offer a free, no obligation 15 minute consultation on any Velocity matter.
