Receiving a lawsuit notice can be a daunting experience, especially when it concerns debt collection. If you are in this situation, you may feel overwhelmed, stressed, and unsure of where to turn. You may also not recognize Accelerated Inventory Management LLC and think it is a scam. However, you should not ignore the lawsuit. You have legal options available to you to resolve it and move forward with your life.
At Warren & Migliaccio, our Texas debt collection defense lawyers represent and defend individuals facing debt collection lawsuits throughout the state of Texas. We often defend Texans against companies like Accelerated Inventory Management. Below, we explain what you should know about Accelerated Inventory Management LLC and the steps you can take if facing an Accelerated Inventory Management lawsuit.
What Is Accelerated Inventory Management?
Accelerated Inventory Management, LLC is a debt buyer based in Austin, Texas. A debt buyer is a company that purchases portfolios of charged-off debts from original creditors for a fraction of their value. These debts may include credit card debt, personal loan debt, or other debt. Once the debt buyer purchases and owns the debt, it seeks to collect the full amount owed from debtors to make a profit.
Debt buyers often use legal action as a collection method. Accelerated Inventory Management, LLC hires debt collection law firms to handle its collections. For its Texas cases, it often hires Noack Law Firm to pursue its collections.
Why Is Accelerated Inventory Management, LLC Suing Me?
If Accelerated Inventory Management, LLC is suing you, it is likely because it believes you owe a debt that it purchased from an original creditor. As the new owner of the debt, it is now seeking to collect the full amount you allegedly owe.
Do Not Ignore an Accelerated Inventory Management Lawsuit
If you fail to respond to a lawsuit from Accelerated Inventory Management, LLC, the court may issue a default judgment against you. A default judgment occurs when the court rules in favor of the plaintiff (Accelerated Inventory Management) because you did not respond to the complaint within the required timeframe or show up to court. Basically, it is an automatic win for Accelerated Inventory Management.
A default judgment can allow Accelerated Inventory Management, LLC to obtain a court order for bank garnishment, which involves freezing and withdrawing money directly from your bank account to cover the debt. It may also pursue liens on your property or property seizure to cover the debt. The only way to avoid a default judgment is to file a response to the lawsuit called an Answer.
This infographic provides a clear guide on the steps to take if you’re sued by Accelerated Inventory Management LLC in Texas, from seeking legal advice to exploring your legal options.
What to Do if Accelerated Inventory Management, LLC Sues You for Debt Collection
If you are facing an Accelerated Inventory Management lawsuit, we recommend taking the following steps:
1. Contact a Texas Debt Collection Defense Lawyer
We recommend reaching out to our debt collection defense lawyers about your situation. We provide a free consultation to review the claims against you and discuss your financial situation. Our team can help you understand your legal rights and explore your legal options for moving forward.
We can also work on your behalf to get the case dismissed or obtain the best possible outcome for your situation. We deal with large creditors and debt collectors every day and have significant experience and success in helping our clients resolve debt collection lawsuits.
Call (888) 584-9614 or click here to submit a consultation request form now.
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2. File an Answer to the Lawsuit
The lawsuit process generally begins with a complaint and summons served to you. You only have a limited amount of time to respond to the lawsuit, typically 14 to 20 days, to avoid a default judgment. The deadline depends on the court handling your case.
Your Answer should address each claim against you. It should also include any applicable defenses you have to the lawsuit. Failing to file an Answer by the deadline can result in an automatic loss for you, leading to serious consequences.
3. Verify the Debt
By filing an Answer to the lawsuit, you put the burden of proof on Accelerated Inventory Management to prove its case against you. It must be able to prove that the debt is yours, that you owe the debt, and that it has the legal right to collect the debt.
When debt changes hands, debt buyers may be unable to prove the legal transfer of the debt or the chain of ownership. You should request debt validation from Accelerated Inventory Management and its attorney to assess the strengths and weaknesses of the case.
You should also demand debt validation if you do not recognize the debt, believe the amount is incorrect, or that it has already been paid. If you do recognize the debt, compare your records with the claims in the lawsuit. Ensure that the debt and the amount claimed are accurate.
4. Explore Your Legal Options
Depending on the case against you, several potential avenues exist to resolve it. Generally, your options may include the following:
- Seek case dismissal. You may be able to get it dismissed if there are weaknesses in the lawsuit. For example, if there are issues with debt validity or the debt is time-barred, Accelerated Inventory Management or the court may dismiss it.
- Fight the lawsuit in court. You may be able to fight the case in court if you have a strong defense. This option takes longer, and there is no guarantee that you will win the case. However, it may be worth it if your defense is strong enough.
- Negotiate a settlement. If you acknowledge the debt or want to avoid court, you may work toward a favorable settlement through negotiations.
- Seek bankruptcy. If your debt is too much to handle, you may be able to explore the option of bankruptcy, too. Through bankruptcy, you can discharge or restructure your debts to help you get on the road to financial recovery.
Schedule a Free Case Review With Our Texas Debt Defense Lawyers
Our Texas debt collection defense lawyers understand that facing a lawsuit from Accelerated Inventory Management, LLC, can be overwhelming. However, you have legal options available to you to resolve the lawsuit. More so, you do not have to deal with it alone.
At Warren & Migliaccio, we represent and defend individuals facing debt collection lawsuits throughout the state of Texas. During a free consultation, we can answer your legal questions, review the claims against you, and help you understand your legal options for moving forward. Call us at (888) 584-9614 or contact us online to schedule yours.
