Dan001

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About Dan001

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  1. I am  still on my velocity law suit; they filed a motion to abate when i filled a MTC meaning they agreed to arb and I was given 60 days to file for arb or we go back to court; the problem is that the amount is alot 30k and I think that they might go though with the arb an probably pay the fees because of the amount involved. My question goes: should I CALL or EMAIL velocity and make an offer: what kind of percentage is ok??,  Is it my best bet to make an offer and settle before firling for an arb? What do I do pls, Thanks for any answers to this

    1. Show previous comments  2 more
    2. Dan001

      Dan001

      @fisthardcheese

      On the plaintiff's petition, the attorney stated that they are seeking for'' monetary relief of 10k  or less , including damages of any kind, penalties, costs and expenses'',  and that the court has jurisdiction to enforce that. does that mean that mean in addition to the debt or that is all they are looking for to discharge the case?

      Again, do I need to make a monetary offer to them when am sending email for a mutual dismissal of the case?

      Thanks so much

    3. fisthardcheese

      fisthardcheese

      How much did they sue you for?  They can't claim they are seeking less than 10k and get 30k.

      After arbitration is started, my settlement offer is always a mutual dismissal for both sides.  I never offer a single dollar no matter how much might be in question.

    4. Dan001

      Dan001

      ok, thanks so much. They sued me for 30k. I will do like that. 

  2. Velocity provided me with purchase documents between them and lending club, they are physically signed. I signed mine electronically with lending club. If I see a physically signed signature on mine, it means they forged my signature. Am going going crazy. I will use the next few weeks and see if I can make them an offer before filing for arb with AAA, ok?
  3. The worst mistake of my life was taking a personal loan for business. This will hurt for a very long time, i will see if I can raise some money and make an offer for settlement in the next few weeks. Pls, DO I CALL OR EMAIL THEM FOR THE OFFER?
  4. You guys are awesome. It was a business gone really bad but survival is a habit
  5. I will call them to settle before filling for arbitration, starting with 25% up to 40% and see my chances
  6. I signed a personal guarantee for the loan. the just filled for an abate motion; I want to negotiate with them because they gave me 60 days to file for arbitration or we go back to court
  7. Sued by Velocity Investment for a debt (30k) from Lending club. Business got messed up and all the money gone. I responded (denied) and filled a motion for arbitration, the court sent a Scheduling conference email to me for this Friday. Pls, I need help on how to go about this. 1) Should I call Velocity for a settlement, is it late? 2) What are my chances and best defense points upon arbitration if it is granted? 3) Any way out of this with my head high? 4) If I can negotiate, any idea on how velocity investment llc goes in terms of how much percentage I am likely to get? Thanks so much for all that you guys do.
  8. Sued by Velocity Investment for a debt (30k) from Lending club. Business got messed up and all the money gone. I responded (denied) and filled a motion for arbitration, the court sent a Scheduling conference email to me for this Friday. Pls, I need help on how to go about this.

    1) Should I call Velocity for a settlement, is it late?  2) What are my chances and best defense points upon arbitration if it is granted?  3) Any way out of this with my head high? 4) If I can negotiate, any idea on how velocity investment llc  goes in terms of how much percentage I am likely to get?

    Thanks so much for all that you guys do. 

    @fisthardcheese @BV80 @BrotherskeeperThanks for the anticipated response, Great guys!

    1. Show previous comments  3 more
    2. Dan001

      Dan001

      Not really, am thinking of one that I will go with

      Any ideas

       

    3. fisthardcheese

      fisthardcheese

      Was this a business loan?  If the loan contract mentions business related loan or other business-related language at all you may have an issue using arbitration.  AAA and JAMS only work well on CONSUMER issues because there are specific consumer protections in their rules.  However, a business related issue means that you will be on the hook for half of the arbitration fees and that kills any leverage using arbitration gives you.  Check your loan contract carefully before proceeding with arbitration on this.

    4. Dan001

      Dan001

      It is a consumer/personal loan. I want to negotiate payment, any idea on how best to go about it? Thanks so much

  9. Sued by Velocity Investment for a debt (30k) from Lending club. Business got messed up and all the money gone. I responded (denied) and filled a motion for arbitration, the court sent a Scheduling conference email to me for this Friday. Pls, I need help on how to go about this.

    1) Should I call Velocity for a settlement, is it late?  2) What are my chances and best defense points upon arbitration if it is granted?  3) Any way out of this with my head high? 4) If I can negotiate, any idea on how velocity investment llc  goes in terms of how much percentage I am likely to get?

    Thanks so much for all that you guys do. 

    @fisthardcheese @BV80 @BrotherskeeperThanks for the anticipated response, Great guys!

  10. Sued by Velocity Investment for a debt (30k) from Lending club. Business got messed up and all the money gone. I responded (denied) and filled a motion for arbitration, the court sent a Scheduling conference email to me for this Friday. Pls, I need help on how to go about this.

    1) Should I call Velocity for a settlement, is it late?  2) What are my chances and best defense points upon arbitration if it is granted?  3) Any way out of this with my head high? 4) If I can negotiate, any idea on how velocity investment llc  goes in terms of how much percentage I am likely to get?

    Thanks so much for all that you guys do. 

    @fisthardcheese @BV80 @BrotherskeeperThanks for the anticipated response, Great guys!

  11. Sued by Velocity Investment for a debt (30k) from Lending club. Business got messed up and all the money gone. I responded (denied) and filled a motion for arbitration, the court sent a Scheduling conference email to me for this Friday. Pls, I need help on how to go about this.

    1) Should I call Velocity for a settlement, is it late?  2) What are my chances and best defense points upon arbitration if it is granted?  3) Any way out of this with my head high? 4) If I can negotiate, any idea on how velocity investment llc  goes in terms of how much percentage I am likely to get?

    Thanks so much for all that you guys do. 

    @fisthardcheese @BV80 @BrotherskeeperThanks for the anticipated response, Great guys!

    1. Dan001

      Dan001

      • fisthardcheese
      • I calculated how much that I am owing, I found out that these people made a mistake, they sued me for an amount different from what I am owing. The bill of sale has a different amount from what they are suing me for and there other places that different amounts are shown in the documents that they sent to me.I have the payment, I also have what they printed out or received from the original lender, I don't know which one, but the amount is not same. What is my leverage here on this my pending arbitration?
      • False or Misleading Representations

        A collection agency can’t lie. For example, it can’t:

      • falsely represent the amount you owe or the amount of compensation the collection agency will receive
      •  
      • As usual, thanks so much in advance 
  12. I am in the same situation as you. I sent a petition to compel arbitration today and I am waiting for when the court will respond. Pls keep us posted and I will update here if I hear anything from them. I am in Dallas