If your credit score is taking a hit because of Velocity Investment LLC, it’s likely due to an old debt resurfacing. Your creditor might enlist Velocity Investment LLC to recover funds from you once you fail to make payments on a bill or loan.
Settling your debt with Velocity LLC may not necessarily improve your credit score and could potentially lower it even more. The most effective approach to handle this debt collection agency is directly addressing the root cause: removing the negative item from your credit history. If Velocity Investment LLC sues you, taking the lawsuit seriously despite any grievances against the company is crucial.
What is Velocity Investment LLC?
Velocity Investment LLC, founded in 2003 in Wall, New Jersey, is a nationwide buyer of overdue consumer debts. It specializes in acquiring delinquent debts from creditors like banks and credit card companies.
This agency litigates against the individuals who owe the debt to generate revenue. Velocity Investment LLC purchases the debt for less than 20% of the original amount, earning substantial profits when consumers repay the entire sum.
Primarily, Velocity Investment LLC uses a collection strategy that often involves taking consumers to court to compel debt payments. Neglecting the lawsuit under the assumption of its illegitimacy can severely harm any consumer’s case.
Contact Details
Below is Velocity Investment LLC’s contact information:
Address:
1800 NJ-34 #404a, Wall Township, NJ
07719, United States
Phone Number:
+1 732-556-9090
Velocity Investment LLC History
Velocity Investment LLC was founded in 2003 and has provided debt collection services to many clients ever since. This company’s headquarters are in Wall Township, New Jersey.
Over the years, Velocity Investment LLC has become a well-respected player in the debt collection industry, earning a reputation for effectiveness. This company intends to help its clients recover the money they are owed.
Velocity Investment LLC Reviews
Firms handling debt collection complaints receive consumer complaints about Velocity Investment LLC. Based on some complaints, Velocity Investment LLC has engaged in improper and potentially illegal activities while attempting to collect consumer debts.
The complaints suggest that the company may have attempted to collect debts that were not owed due to identity theft or other errors. They also need to provide information about the obligations required by the law.
Google Reviews
Based on the limited and negative reviews, Velocity Investment LLC has an overall rating of 1.1 out of five stars. Several reviewers have labeled the company a scam and reported receiving threatening messages from the company.
It is important to note that these reviews represent the opinions of only a handful of customers and may not necessarily reflect the experiences of all customers.
BBB Reviews
Being in business for 20 years, Velocity Investment LLC has an A+ rating and accreditation from BBB. However, the company has received 65 customer complaints in the last three years and an average rating of one out of five stars.
The complaints mainly relate to problems with Velocity Investment LLC’s services. One customer alleged that the agency had been pursuing them for a debt they were not liable for and did not contract with the company. Here is what to do if a debt collection agency pursues you for a debt that is not yours.
From the provided information, whether these consumer complaints have been resolved satisfactorily could be more explicit.
Other Reviews
There have been several cases against Velocity Investment LLC. One of the complaints is about harassment and impersonation of an attorney or government official. This raises concern about Velocity Investment LLC’s conduct. If substantiated, this complaint would indicate severe consumer protection ethical standards violations.