Sued by velocity investments in PA
Who is Velocity Investments?
Getting a thick envelope from a Pennsylvania Magisterial District Court is scary enough. But it gets even more confusing when you read the paperwork and see you are being sued by a company called Velocity Investments LLC.
You know you have never signed a contract or taken out a loan with a company called Velocity. Your first thought might be that this is a scam or a mistake.
Unfortunately, the lawsuit is very real. Velocity Investments is one of the most aggressive "debt buyers" operating in Pennsylvania right now. But unlike older debt buyers who mostly deal in credit cards, Velocity specializes in buying modern, online personal loans.
If you took out an internet loan through an app like Upstart, LendingClub, Prosper, or WebBank, and fell behind on the payments, Velocity likely bought your account. They buy these defaulted accounts in massive electronic portfolios for pennies on the dollar, and then they file lawsuits to try and collect the full amount from you.
The Worst Mistake You Can Make: Ignoring the Summons
Because people do not recognize the name Velocity Investments, many assume it is fake and throw the summons in the trash. This is exactly what Velocity hopes you will do.
Velocity plays a massive volume game. They file hundreds of lawsuits knowing that most people will be too scared or too confused to show up to court. If you do not respond or do not show up to your hearing, the judge will hand Velocity an automatic win. This is called a Default Judgment.
The Danger of a Default Judgment in PA
If Velocity gets a judgment against you, they gain serious legal power over your money.
The Wage Myth: A lot of people think debt collectors can immediately garnish their paychecks. The good news is that Pennsylvania law protects your wages from this type of debt.
The Bank Freeze: The bad news is that Pennsylvania allows debt buyers to go right after your bank account. With a judgment, Velocity can freeze your checking or savings account and take the money you need for rent and groceries. They can also place a lien on your house.
The DIY Trap: Don't Go to Court Alone
Sometimes, people realize the lawsuit is real and decide to just show up to the magistrate court to explain their side of the story.
When you get to the courthouse, nobody from Velocity’s corporate office will be there. Instead, there will be a local "rent-a-lawyer" hired to handle Velocity's cases for the day. This lawyer will probably pull you aside before you even see the judge and pressure you into signing a harsh payment plan.
If you refuse and try to talk to the judge, saying things like "I lost my job" or "I don't know who this company is" will not win your case. The local lawyer knows the complex rules of courtroom evidence. You do not.
How a Defense Lawyer Fights Velocity
You do not have to let a debt buyer bully you, and you do not have to figure out the legal system on your own. A defense lawyer knows exactly where companies like Velocity are weak.
Here is how we fight back in Pennsylvania:
The "Show Me the Paperwork" Defense: Because Velocity buys thousands of internet loans at a time in massive spreadsheets, their legal paperwork is almost always a mess. A defense attorney forces them to prove the "Chain of Title." This means Velocity has to show the judge strict, legal proof that they actually own your specific account. When they can't provide the evidence, we win, and you owe them zero.
When they can't provide the evidence, we win, and you owe them zero.
Let Us Stand Between You and the Debt Collector
Trying to defend yourself against a massive debt buyer is exhausting and risky. At Fenters Law Firm, we level the playing field.
We use a Flat-Fee Defense model. That means you pay one clear, upfront price for us to handle your case. There are no surprise hourly bills and no hidden fees. We know the local PA courts, we know the tactics Velocity Investments uses, and we know how to protect your bank account.
Do not wait until the debt buyer freezes your hard-earned money. Contact Fenters Law Firm today for a free consultation, and let us take the stress off your shoulders.
Get a Free, Secure Case Evaluation
Don't guess at your options. Upload a picture of your court summons or letter right here. I will personally review your docket number and tell you exactly how we can fight it.