JH Portfolio Debt Equities is a company that buys old debts and then tries to collect as much as possible on them. If you’ve been contacted by this debt collector, you will likely be sued at some point. Nobody wants to deal with debt collections and lawsuits, but there is a way out. It’s time to consider debt settlement.
Not only can debt settlement save you money, but also time and stress. However, having skilled legal representation is essential to negotiate the best possible deal and ensure that any agreement is binding, effective, and actually settles your account. You need The Fullman Firm.
Everything You Need To Know About JH Portfolio Debt Equities
This debt collector is located in Woodland Hills, California. It buys old debts that originate with credit card companies and other financial institutions and companies. These are charged-off debts that the original creditor no longer has an interest in pursuing, so it sells the account (often for pennies on the dollar). This gives the debt buyer a major incentive to turn around and collect whatever it can from the debtor.
If JH Portfolio Debt Equities does not get what it wants from the debtor, it will file a lawsuit. The company is known to retain a number of law firms that will take aggressive legal action against debtors. But JH Portfolio Debt Equities has also been accused of numerous dishonest, unethical, and harassing debt collection tactics. These include allegations of:
- Suing for invalid debts
- Harassing debtors
- Refusing to validate the debt or provide information required by law (see below)
- Refusing to prove it owns the debt
- Reporting inaccurate information to credit bureaus
What Rights Do You Have As A Debtor?
Not all debtors are aware of the rights they have under debt collection laws. One of the major laws in place to protect debtors is the Fair Debt Collection Practices Act (FDCPA). This federal law makes it illegal for a debt collector like JH Portfolio Debt Equities to:
- Yell at debtors over the phone
- Use profanity in communications with debtors
- Intimidate debtors, for example by threatening to have them arrested for a debt
- Call debtors early in the morning or late at night
- Impersonate law enforcement officers or government agents
- Fail to properly identify themselves as a debt collector
- Discuss the debt with the debtor’s friends, co-workers, or neighbors
These rights exist so debtors can verify that they actually owe an alleged debt before making a payment. If you believe that JH Portfolio Debt Equities has violated any of your rights, let our firm know.
I’ve Been Sued; What Happens Next?
Although JH Portfolio Debt Equities may start off by sending you collection letters, it is highly likely the company will retain a lawyer and sue you. But that doesn’t mean you don’t have legal options.
A lawsuit includes a complaint and a summons. The complaint lays out the factual allegations against you and states details about the debt you supposedly owe. Meanwhile, the summons is the document that tells the debtor to respond to the complaint. Usually, a debtor will have 30 days after being served with the complaint and summons to file an answer.
If you fail to answer the lawsuit after being served, JH Portfolio Debt Equities can obtain a default judgment. Many debtors falsely believe that if they evade service long enough the problem will go away. But this only delays the inevitable since debt collectors and their lawyers have numerous ways to accomplish service.
What Happens If JH Portfolio Debt Equities Obtains A Judgment?
If you actually owe the debt, or you are sued and never answer the lawsuit, JH Portfolio Debt Equities will eventually obtain a judgment against you. This is only the beginning of your financial and legal problems. With a judgment, JH Portfolio Debt Equities can garnish your wages, put a lien on your property, and even take money out of your bank account. This debt collector is aggressive and will not stop until it collects the full amount of the debt, plus any interest and attorney fees.
How Can Debt Settlement Help Me?
Even if a judgment has been entered against you, there’s a way to settle what you owe for less than the balance. This is where debt settlement comes in.
With most debt settlement arrangements, the debtor negotiates a lump-sum payment that is less than what is actually owed on the account or what is ordered in a court judgment. In exchange, the debt collector or creditor agrees to not attempt to collect the remaining balance.
It’s important that you retain experienced legal counsel to handle debt settlement negotiations. For one, we have worked with collectors like JH Portfolio Debt Equities, so we know how to negotiate in a way that saves our clients money. Also, we know how to ensure the debt settlement agreement is effective. Some debtors work out settlements over the phone, make a payment, but then have no way of proving the collector or creditor agreed to accept less than what was owed. They end up stuck owing the remaining balance.
Let Us Negotiate A Debt Settlement That Saves You Money, Time, And Stress
Our law firm knows how to settle old debts for less than what the debtor owes. We also know what it takes to make sure the negotiated agreement is legally binding and settles the account, once and for all. Are you tired of dealing with JH Portfolio Debt Equities? Give The Fullman Firm a call today.