Sued By First Portfolio Ventures I LLC?

Who Is First Portfolio Ventures I LLC?

We are a consumer defense law firm who has fought many debt collection lawsuits filed by First Portfolio Ventures I LLC.  They are a buyer of charged off debt, usually credit card debt.  First Portfolio Ventures may be showing up on your credit report or they may have served you with a lawsuit. First Portfolio Ventures I LLC files thousands of collection lawsuits each year against consumers for unpaid credit card debt. First Portfolio Ventures will hire a local collection attorney to file the lawsuit.  

Their primary goal is debt collection.  They may be showing up on your credit report right now or they have be actively suing you for debt.  They are not simply a collection agency, they are an actual debt buyer of debts and they frequently file debt collection lawsuits as part of their overall debt collection process.

If you have been served lawsuit papers from First Portfolio Ventures I LLC you must take action now to prevent a default judgment.

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How to Defend against First Portfolio Ventures I LLC

If you have been sued by debt collector First Portfolio Ventures I LLC, it means that First Portfolio Ventures has taken legal action against you in an attempt to collect a debt that they claim you owe.

When you are sued by a debt collection agency, it is crucial to take the matter seriously and respond appropriately when being pursued by First Portfolio Ventures I LLC for unpaid credit card debt.

Don’t Ignore the Lawsuit Papers: Ignoring the debt collection lawsuit will result in a default judgment against you followed by potential garnishment of your bank account or wages depending on state collection laws.  This is more serious than a simple collection letter.  It’s a Court process that could give First Portfolio Ventures I LLC the power to take some of your assets or put a lien on property that you own.  A debt lawsuit is much more important than simply having a negative mark show on your credit report.  A low credit score is not nearly as critical as a default judgment for not responding to a debt collection lawsuit. You must have a debt collection defense strategy.

Hire an attorney on a Flat Fee– When legal action has been taken, navigating the Court process for a debt claim can be complicated when served with a debt collection lawsuit.  Getting legal advice is key.  Additionally, you will likely be required to appear in Court one or more times. If you hire an attorney they will likely be able to appear for you. You should know what the fee is going to be and avoid paying a lawyer by the hour since this could get very expensive.  Being a defendant in a debt collection lawsuit is not a fun process.

File a Response to the Complaint: When you are sued by a plaintiff debt buyer like First Portfolio Ventures I LLC on an alleged debt, You must respond to the lawsuit by filing an answer with the court within the specified deadline (usually 14-30 days from service). The deadline varies depending on what Court the case was filed in. In your answer, you generally must deny the allegations of First Portfolio Ventures I LLC or you will admit the debt.

Plead Your Defenses:  Responding to a First Portfolio Ventures I LLC lawsuit is crucial, as it is with any debt-related lawsuit. In your response, you should assert any valid defenses, such as disputing the accuracy of the debt, claiming the debt is beyond the statute of limitations, or stating that you are not the responsible party. As the defendant, it is essential to properly assert your defenses. First Portfolio Ventures I LLC might lack adequate documentation from the original creditor, and if this is the case, you need to clearly explain this to the judge

Attend Court Hearings (or hire an attorney): When legal action has been taken against you by a debt buyer for credit card debt, the Court will likely set deadlines and hearings in your case. Make sure to attend all scheduled hearings and proceedings and handle all deadlines. This is another reason why it is wise to hire an attorney who focuses on debt lawsuit defense.  Getting legal advice regarding consumer protection can go a long way in defending against a debt collector in a debt collection case.

Comply with Court Orders: Follow any court orders or judgments. Failure to do so can result in additional legal consequences.  This is different from the debt collection laws that creditors must follow prior to the debt collection lawsuit being filed.

Prepare for Trial: A debt collection lawsuit often ends up in trial.  If negotiations fail and the case goes to trial, work with your attorney to prepare a strong defense and gather evidence to support your position.  This is why it’s important to get sound legal advice when faced with a debt collection lawsuit filed by a debt collection agency like First Portfolio Ventures I LLC. Many times they have not provided adequate documentation from the original creditor.  When they buy debt as a debt buyer they are required to provide some documentation at trial.

Negotiate a Settlement: First Portfolio Ventures I LLC lawsuits are serious if you don’t handle them correctly. Your attorney may be able to negotiate a favorable settlement of the claim as opposed to leaving it up to the judge at trial. This is often a wise resolution to eliminate the risks of trial but you must make sure there is a valid written settlement agreement to ensure the bad debt is actually resolved.   The last thing you want is to settle then have First Portfolio Ventures I LLC come after you later claiming more unpaid debt. 

Consider Bankruptcy:  If you have more debts other than just First Portfolio Ventures I LLC debt you should consider Bankruptcy as an option.  A Bankruptcy an relieve your obligation of First Portfolio Ventures I LLC lawsuits and other bad debt.  This includes credit card debt and other consumer debt.   At Weston Legal we offer a variety of debt relief options in select jurisdictions.  Contact us to see if we can assist with your situation. 

What Happens With a Judgment?

Your Bank Account Can Be Frozen and Emptied by Many Judgment Creditors

A Judgment Can Often Cloud Title on Your Homestead Property

A Judgment is Published on your Credit Report as a “Public Record”

With a Judgment, certain property can be sold at auction to pay towards the judgment

Do I Need a Lawyer?

Without a Lawyer

Default Judgment
The vast majority of collection lawsuits end up with a judgment against the consumer. This is primarily because the consumer did nothing to protect themselves or they attempted to defend the lawsuit themselves.

With a Lawyer

Default Judgment

Most of our cases are dismissed by the creditor prior to trial or we reach a favorable settlement for our clients depending on the circumstances of their situation.

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Mike Weston is a seasoned debt lawsuit defense attorney and founder of Weston Legal. Since 2005, Mike has devoted his career to compassionately helping consumers struggling with issues involving their personal and business debts. Mike is grateful to have been able to help tens of thousands of clients become empowered with knowledge on the path to financial stability.