Velocity Investments

Complaint: [redacted] I am rejecting this response because: I called the Honolulu District Court today May 11,and I was told that they have not receive anything whatsoever from Velocity Investment, contrary to what they are sayingI have left numerous voice messages to the person in charge of this account,( ***) as a matter of fact I have left messages everyday for her to call me back but she has not returned my callI did tell her before that I really need to have this matter taken care of Regards, [redacted]

Velocity Investments, LLC purchased this account from CACH, LLC Square on or about March 29, who in turn had purchased this account from Sherman Acquisition, LLC who purchased this directly from GE Capital Corp(Chain of Title Attached) [redacted] opened this account with GE Capital Corpon or about December 8, and made a last payment on this account on August 7, under GE account number [redacted] Upon Velocity’s purchase the account was opened into their system on April 8, (Copy of internal Velocity system notes attached)Thereafter on April 9, the file was immediately referred to their local counsel [redacted] ***On April 12, [redacted] sent its initial day demand letter to [redacted] and when no response was received [redacted] filed suit on June 21, [redacted] attempted service of the summons and complaint but has been unsuccessful on a number of occasions(Pleadings and service attempts attached) Velocity never directly sent [redacted] any demand letters or attempted to contact her whatsoeverThe account was purchased for a total of $3,(copy of sales strip), opened for $3,and referred for $3,The statute of limitations in the State of Illinois is years from the date of the last paymentSuit was filed well within this six year periodNeither Velocity nor [redacted] remotely violated the FDCPAAgain, Velocity had no direct contact with the debtor and Freedman’s office only received inbound telephone calls from an individual on 9/9/and 9/12/During both telephone calls this individual was very difficult and would not allow Freedman’s office to get through the necessary disclosures and hung up on Freedman's office on each occasionThere simply has not been any conduct whatsoever that could be construed as harassment whatsoever Despite not having done anything in violation of the FDCPA, Velocity has instructed Freedman to close its file and dismiss the complaintVelocity is also closing its file and agrees will not sell this account in the future

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me
Regards,
*** ***

Complaint: [redacted]
I am rejecting this response because:
I called the Honolulu District Court today May 11,2016 and I was told that they have not receive anything whatsoever from Velocity Investment, contrary to what they are saying.
I have left numerous voice messages to the person in charge of this account,( [redacted])  as a matter of fact I have left messages everyday for her to call me back but she has not returned my call.
I did tell her before that I really need to have this matter taken care of .
Regards,
[redacted]

Velocity Investments, LLC purchased this account from CACH, LLC Square 2 on or...

about March 29, 2013 who in turn had purchased this account from Sherman Acquisition, LLC who purchased this directly from GE Capital Corp. (Chain of Title Attached). [redacted] opened this account with GE Capital Corp. on or about December 8, 2006 and made a last payment on this account on August 7, 2008 under GE account number [redacted]
Upon Velocity’s purchase the account was opened into their system on April 8, 2013. (Copy of internal Velocity system notes attached). Thereafter on April 9, 2013 the file was immediately referred to their local counsel [redacted]. On April 12, 2013 [redacted] sent its initial 30 day demand letter to [redacted] and when no response was received [redacted] filed suit on June 21, 2013. [redacted] attempted service of the summons and complaint but has been unsuccessful on a number of occasions. (Pleadings and service attempts attached).
Velocity never directly sent [redacted] any demand letters or attempted to contact her whatsoever. The account was purchased for a total of $3,884.54 (copy of sales strip), opened for $3,884.54 and referred for $3,884.54. The statute of limitations in the State of Illinois is 6 years from the date of the last payment. Suit was filed well within this six year period. Neither Velocity nor [redacted] remotely violated the FDCPA. Again, Velocity had no direct contact with the debtor and Freedman’s office only received inbound telephone calls from an individual on 9/9/13 and 9/12/13. During both telephone calls this individual was very difficult and would not allow Freedman’s office to get through the necessary disclosures and hung up on Freedman's office on each occasion. There simply has not been any conduct whatsoever that could be construed as harassment whatsoever.
Despite not having done anything in violation of the FDCPA, Velocity has instructed Freedman to close its file and dismiss the complaint. Velocity is also closing its file and agrees will not sell this account in the future.

Review: Velocity is using scare tactics - Threatening to file judgement against my credit

Pressure tactics - To make immediate payments by phone in 1 - 4 payments

No proof that I owe this debt to them

Threats of a false civil action - when I contacted [redacted] county court, the docket # [redacted] does not exist.

I never opened an acct with Velocity

Velocity Investments reps are also stating that they are from [redacted] Law office- when I am on the phone with Velocity rep. and their manager is put on the phone, the manager states they are from [redacted] and [redacted] Law Office.

I am given multiple phone numbersDesired Settlement: I want to know where this loan originated with proof that I owe this debt showing a itemized acct.

I want a proof that there or is not a civil action filed against me

I want clear definition of the business that is pressuring me to sign an agreement for an unknown debt and for them to only contact me on writing

Business

Response:

Velocity purchased this account from [redacted] on September 26, 2013 who in turn had purchased this account on August 29, 2013, from [redacted] who was spun off from [redacted] This account was charged off in June 2013 with a balance of $3,022.01. The account number is [redacted] and was originally opened by [redacted] on August 15, 2012 and had a last payment date of November 19, 2012.Immediately after purchasing this account Velocity referred this matter to [redacted] & Associates to collect. Velocity had no direct contact with [redacted] advises that Velocity has made false threats. Velocity hired a law firm local to [redacted]. A law suit was in fact filed and is attached. Velocity by and through [redacted] were and still are open any settlement efforts. Neither Velocity or [redacted] have done anything wrong. It is [redacted] who has not paid her bill. Attached are copies of the bills of sale, a copy of the statement of account and the complaint filed by [redacted] on Velocity’s behalf. Any settlement inquiries should be made through [redacted] & Associates’ office at: [redacted]Attorneys at Law[redacted]

Review: When I picked up the items from Leath Furniture they were covered up and packaged in large boxes, which prevented me from inspecting them. It wasn't until later after opening the boxes, I discovered the items were damaged, chipped, and dented. Upon returning the items I was told I would reveive a credit within 7-10 days. I did not receive any bills thereafter and so I assumed charges were removed. It wasnt until I heard from the collection agency that I became aware of the charges. I believe it was either an error on Leath furniture's behalf or it was intentional fraud.

After Finding out the company went out of business and I was never credited the charges, I learned that there are multiple complaints, fraud reported, and scams that have been reported. Some are listed on the following link:

http://www[redacted]

Not only is the alleged debt invalid, Velocity Investments, LLC has violated my consumer rights as stated in the "Fair Debt Collection Practices Act." They are in violation of the following citations:

1. Ask to pay more than you owe

[15 USC 1692e] § 807(2)(a)

2. Ask you to pay interest, fees, or expenses that are not allowed by law

[15 USC 1692f] § 808(1)

3. Call repeatedly or continuously

[15 USC 1692d] § 806(5)

4. Call before 8:00 am or after 9:00 pm

[15 USC 1692c] § 805(a)(1)

5. Call at times the collector knew or should know are inconvenient

[15 USC 1692c] § 805(a)(1)

6. Threaten action they cannot or will not take

. [15 USC 1692e] § 807(5)

7. Fail to send a written debt validation notice

Within five days of the collector's initial communication, it must send you a notice include the amount of the debt, name of the creditor, and notice of your right to dispute the debt within 30 days. [15 USC 1692g] § 809(a)

8. Ignore your written request to verify the debt and continue to collect

A collector can't continue to collect on a debt after you've made a written request to verify the debt as long as the reDesired Settlement: I am seeking that the harassment from Velocity investments, LLC stops immediately. In addition, I am seeking for the debt to be removed completely, and for the collection agency to cease and desist all actions, as this debt is invalid. All items were returned to the company where originally purchased. I currently have proof the of the return.

Business

Response:

Velocity Investments, LLC purchased this account from CACH, LLC Square 2 on or about March 29, 2013 who in turn had purchased this account from Sherman Acquisition, LLC who purchased this directly from GE Capital Corp. (Chain of Title Attached). [redacted] opened this account with GE Capital Corp. on or about December 8, 2006 and made a last payment on this account on August 7, 2008 under GE account number [redacted]

Upon Velocity’s purchase the account was opened into their system on April 8, 2013. (Copy of internal Velocity system notes attached). Thereafter on April 9, 2013 the file was immediately referred to their local counsel [redacted]. On April 12, 2013 [redacted] sent its initial 30 day demand letter to [redacted] and when no response was received [redacted] filed suit on June 21, 2013. [redacted] attempted service of the summons and complaint but has been unsuccessful on a number of occasions. (Pleadings and service attempts attached).

Velocity never directly sent [redacted] any demand letters or attempted to contact her whatsoever. The account was purchased for a total of $3,884.54 (copy of sales strip), opened for $3,884.54 and referred for $3,884.54. The statute of limitations in the State of Illinois is 6 years from the date of the last payment. Suit was filed well within this six year period. Neither Velocity nor [redacted] remotely violated the FDCPA. Again, Velocity had no direct contact with the debtor and Freedman’s office only received inbound telephone calls from an individual on 9/9/13 and 9/12/13. During both telephone calls this individual was very difficult and would not allow Freedman’s office to get through the necessary disclosures and hung up on Freedman's office on each occasion. There simply has not been any conduct whatsoever that could be construed as harassment whatsoever.

Despite not having done anything in violation of the FDCPA, Velocity has instructed Freedman to close its file and dismiss the complaint. Velocity is also closing its file and agrees will not sell this account in the future.