How to Handle a Lawsuit From Sherman Financial Group LLC ? AKB

by Gary on February 8, 2013

Many residents in Dallas and throughout Texas are surprised to receive legal papers indicating that a lawsuit has been filed against them for debt that they allegedly owe. Sherman Financial Group LLC is just one of many companies that often file these legal actions in an attempt to collect from local residents. Upon learning of the suit it is easy to imagine the worst and assume that there is nothing that can be done to defend against it. That is a mistake. No matter what, there are usually always options to handle the matter effectively.

If you are facing one of these lawsuits, you undoubtedly have many questions. Legal professionals who work on these cases can explain the details and provide tailored advice concerning your options.

For starters, you may be confused about Sherman Financial?the plaintiff in the case. You never borrowed money from them, so why are they suing you?

Sherman Financial is a company that makes money by purchasing debt from other companies and then working to collect it?often via lawsuits. The company is based out of New York City, but they work across the United States and into Mexico. For pennies on the dollar they buy portfolios of ?bad debt? that other businesses?like credit card companies?have written off.

One of the first things you should do is look over the legal documents and determine on what account the company is basing its claim.

What are your options?

There are different ways to handle the lawsuit. On one hand, if the company violates procedural rules in acquiring their right to sue for the debt, then substantive defenses can be brought in court to defend the charges. Alternatively, a settlement might be negotiated.??These settlements usually involve you agreeing to pay part of the debt that is owed in exchange for the legal action being dropped permanently. Because companies like Sherman Financial purchase debt for vastly less than what is owed, they have significant flexibility to make agreements to receive less money and still make a profit.

In addition, in some cases a separate lawsuit may actually be filed against the company for aggressive tactics they may have used in an attempt to collect the debt. Both state and federal law includes rules that these companies must follow in their work. If they violate those rules?usually by harassing consumers?then they may be penalized for their conduct.

Act Now

There are important time requirements for responding to the lawsuit and making arrangements for possible settlement. For that reason it is critical not to delay in handling the matter. For help in Texas, please contact our?Dallas credit card lawsuit attorneys?today for the professional guidance you need to defend yourself and get things back on track.

Source: http://www.armstrongattorneys.com/how-to-handle-a-lawsuit-from-sherman-financial-group-llc/

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