Has Advantage Assets recently contacted you through the mail, telephone, or perhaps even in person to tell you that you are being sued by them for an outstanding debt? Have you never even heard of this company before? To protect yourself from damaging consequences that could cripple your finances, you should team up with a Philadelphia debt collector defense attorney from The Law Offices of Michael P. Forbes today.
Just Who is Advantage Assets Anyway?
When someone accrues a debt and does not have the financial means to immediately pay it off, the original creditor – such as MasterCard or Visa – or the original bank – such as Chase orWells Fargo – generally will not have the interest to pursue it, especially if it is not a sizeable amount of money. Instead, they will sell the debt to a collection agency for a fraction of the cost of the total debt. This collection agency will then go out and try to collect the original full amount.
Advantage Assets is one such company that purcahses outstanding debts on individual consumer credit accounts for minimal amounts but attempts to collect in full. Like many other debt purchasers, Advantage Assets has been known to go for quantity of lawsuits filed, rather than quality. The end result is that they sometimes pursue debts that have been discharged by the original bank or creditor. In other situations, they may purchase inaccurate information, suing you for more than you actually ever owed to anyone. Even though they should have no right to your money in either of the aforementioned scenarios, if you do not know your legal rights and how to challenge their lawsuit, you could end up paying them anyway.
How to Defend Yourself Against Advantage Assets
Just like any other lawsuit, a debt collection lawsuit must be based on actualities, like the debt’s actual existence and current validity. If it is not, the case falls apart and the collection agency’s argument can become defunct. At my debt collector defense law firm in Philadelphia, we have found that in many debt collection cases such as the ones Advantage Assets creates, there is no “real world” evidence against my clients.
In order to be sued for a debt, Advantage Assets must be able to prove:
- You did have a credit account with an original creditor or bank.
- You did in fact default on said account.
- The exact debt amount originally in question and sold to them.
- They have the right to sue you for the debt.
There have been numerous cases in which a client has indeed gone into debt with an original creditor but the collection agency – operating as Advantage Assets may choose to operate – does not have the right debt amount on file. Despite the debt existing, the lawsuit is invalid because the sum is inaccurate.
The bottom line is that there are ways to protect yourself from Advantage Assets and their collections lawsuits, regardless of what they may have told you. The first step is standing up for yourself, and the second step is calling 610.991.3321 to reach me, Philadelphia Debt Collector Defense Attorney Michael P. Forbes. I would be more than happy to tell you about your options – fill out an online case evaluation form today to get started. We handle cases throughout Pennsylvania!