Who is Velocity Investments, LLC?
Velocity Investments is a debt buyer based in Wall, New Jersey. It buys old, unpaid accounts, including loans and credit lines from online lenders, credit cards, store cards, and car loans. If your loan came from a website or an app, it may have passed through more than one company before it got to Velocity.
They bought your debt, and that matters
A debt buyer has to prove it actually owns your specific account. That means an unbroken paper trail from the bank that opened it, all the way to them. This is where these cases most often fall apart, because the paperwork frequently does not exist in the form a court requires.
What tends to matter in these cases
- Online loans are often made by one company and handled by another. Ask for every sale, from the first lender to Velocity.
- Ask for your loan agreement. Many online loan agreements say disputes go to arbitration, so read that part.
- Ask for a full history of the loan: the amount you got, every payment, and every fee.
- Check when you last paid. The account may be too old to sue on in your state.
What to do right now
- 1
Find your deadline
It counts from the day you were served, not the date on the paperwork. Write it on a calendar today.
- 2
File an Answer
This is the document that stops them winning by default and forces them to prove their case.
- 3
Make them prove they own it
Use discovery to demand the original agreement and the complete chain of ownership.
Sued by someone else?
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