Have you been served with a Truist Bank lawsuit over an unpaid debt in Texas? Truist Bank may file a lawsuit to recover money it alleges you owe for a defaulted credit card, loan, or line of credit. Facing a debt collection lawsuit can feel overwhelming, but it is important to understand that you have legal rights and options to resolve it. In the article below, our Texas debt collection defense lawyers discuss what to know about Truist Bank and what to do if sued by Truist Bank for debt collection.
What Is Truist Bank?
Truist Bank, also known as Truist, is one of the top 10 commercial banks in the United States. Headquartered in Charlotte, North Carolina, it was formed in 2019 through the merger of Branch Banking and Trust Company (BB&T) and SunTrust Banks.
The bank operates branches in 17 states and Washington, D.C., offering financial services to individuals, small businesses, and institutions. Its personal banking offerings include checking and savings accounts, credit cards, loans, lines of credit, and investment services.
Truist also does business as LightStream. LightStream is its online, unsecured lending division. According to its website, LightStream offers fixed-rate loans “for purchases that had previously required collateral, or that fall into categories where few or no loan options exist,” such as for vehicles and boats, home improvement, and jewelry.
Why Is Truist Bank Suing Me?
If Truist Bank is suing you, it is likely alleging you owe it an unpaid debt. This debt may come from a credit card, loan, or line of credit. Truist may pursue the debt through legal action if other collection efforts, like phone calls and letters, fail.
Truist generally hires debt collection law firms to handle legal action on its behalf. It often works with the law firms Jenkins & Young, P.C. and Adams & Reese LLP for its Texas cases.
3 Steps to Take Right Away If Truist Bank Is Suing You for Debt Collection in Texas
Have you been served with a lawsuit from Truist Bank? If so, it is critical to act quickly to protect your legal rights. We recommend taking the following steps:
1. Consult With a Texas Debt Collection Defense Lawyer
If Truist Bank is suing you for debt collection, we recommend contacting an experienced Texas debt defense lawyer. At Warren & Migliaccio, we provide a free, no-obligation consultation to individuals and families sued for debt collection in Texas.
During a free consultation, we will review the claims against you and help you understand the lawsuit you face. We can discuss your situation, evaluate whether the bank’s claim is legitimate, assess your defenses, and help you understand your potential legal options for resolving the lawsuit. If you decide to work with us, we will represent and defend you throughout the legal process.
2. File an Answer to the Lawsuit
If you decide to work with an attorney, they will handle this step for you. However, if you plan to represent yourself, you should draft and file a formal response to the lawsuit. This response is called an Answer. In your Answer, you should address each allegation made by Truist Bank and highlight any legal defenses you have to the lawsuit.
In Texas, depending on the court overseeing the case, you generally have 14 to 20 days after being served to file an Answer. The lawsuit papers you were served with should tell you the deadline.
Failing to respond by the deadline may result in a default judgment against you. In this case, a default judgment means Truist automatically wins. If Truist gets a default judgment against you, it can pursue further legal action to collect the debt, like bank garnishment or property liens.
3. Verify the Debt
Because Truist Bank is an original creditor, you should be able to review your records to assess the debt’s validity. Examine your credit card, loan, or line of credit contract and your account statements, and compare them to Truist’s claims against you. Do you recognize the debt? Is the debt amount accurate?
If you do not have an account with Truist, do not recognize the debt, or have doubts about whether the debt is yours, you have the legal right to request debt validation from Truist Bank. Truist must prove that you owe the debt, the debt amount is correct, and that it has the legal right to collect. You may have grounds for case dismissal if it lacks sufficient evidence.
How a Texas Debt Defense Lawyer Can Help You
Is Truist Bank or any other creditor or debt collector suing you? If so, having an experienced Texas debt collection defense lawyer on your side can significantly affect your case’s outcome.
A debt defense attorney will represent and defend you throughout the legal process, working to obtain the best possible results for your case. For example, a few ways an attorney can help you include:
- Helping you avoid a default judgment by drafting and filing an Answer to the lawsuit
- Requesting debt validation from Truist Bank to determine whether it has a legitimate lawsuit against you
- Investigating the allegations against you to identify legal defenses
- Helping you understand your legal options so you can make an informed decision about your case
- Developing a legal strategy for your case
- Executing the best course of action for your case, which may include seeking a case dismissal, negotiating a settlement, fighting the case in court, or exploring bankruptcy if your financial situation is dire
Contact Warren & Migliaccio for a Free Consultation
At Warren & Migliaccio, we represent and defend individuals and families facing debt collection lawsuits throughout the state of Texas. We have extensive experience and success going up against the nation’s largest creditors and debt collectors. If you are facing a Truist Bank lawsuit, we are here to help you achieve the best possible outcome for your situation.
Do not hesitate to contact us for a free, no-obligation consultation. We will review the claims against you, help you understand your situation, and discuss your legal options. Call us at (888) 584-9614 or fill out our online contact form, and we will contact you soon to schedule your free consultation.
