I can defend you against “junk debt buyer” lawsuits.
Here is how it works:
- If your consumer debt has been in default for more than a year, it is highly unlikely that you are being pursued by the original creditor.
- The original creditor sells the debt to a third party collection agency, also known as a debt collector or “junk debt buyer”.
- The usual rate debt collectors pay for defaulted loans is around 3 per cent of the amount of the original debt – if they can collect the entire amount from the consumer, they are going to have a nice payday!
“Junk debt buyers” typically file these collection lawsuits against consumers with little or no admissible evidence as to their standing to sue you, the chain of title for the debt or the amount allegedly owed.
However, the debt buyers must prove they acquired the legal right, title and interest in the defaulted accounts in order to properly bring these lawsuits. I have seen that, in practically every single case, the documentation proving the assignment is woefully inadequate. This article from New York Times reporter Jessica Silver-Greenberg shows how wide spread this problem is. It is highly likely you can challenge the authenticity of these “assignment” documents, and get the case against you dismissed.
To discuss representation against the junk debt collector’s lawyer, call me for an appointment. My office is located in Independence, Ohio, convenient to both Cleveland and Akron. Bring the lawsuit with you. We will review your case at no cost and consider whether your lawsuit can be defended. Remember that the passage of time can reduce or even eliminate your rights. Do not delay in contacting an attorney as strict time limits apply to civil lawsuits.