Velocity Investments questioned for lack of proof of debt ownership

The smoke is clearing from the American Legal Process guilty plea prompted by Govener Cuomo's investigation and lawsuit that alleged over 100,000 incidences of fraudulently signed affidavits of service. A "settlement" by way of consent decree permits those who were likely served fraudulently to sign a stipulation that vacates any judgment connected to this now-defunct process serving company.

In this case, Velocity v. McCaffrey, Judge Hirsh of Nassau ordered a special hearing for March 18th, 2011 to determine whether or not Velocity can demonstrate that the debt was validly assigned to it. Judge Hirsh was apparently frustrated by Velocity's attempt to act upon this bizarre stipulation that strips the consumer of the most basic of procedural defenses.

The courts are becoming increasingly alert to debt buyers who lack adequate documentation; Especially when the alleged default in payment occurred more than six years before the lawsuit is filed.

The bottom line is that if you've discovered you've been sued but don't think you were properly served with legal papers (in-hand; given to relative; or nailed to your door), call me right away (646) 290-5600. You have so many valuable rights in these debt lawsuits and you need to assert them!

Categories: Debt Defense
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