How to Make a Cypress Financial Recoveries Settlement Offer

Cypress Financial Recoveries, LLC is a New Jersey debt buyer. They purchase old debt portfolios from banks, credit card companies, hospitals, and cell phone companies. Most debts are bought for pennies on the dollar. Yet they will try to collect the full amount from you. They may also add interest, penalties, late fees, and lawyer’s fees.

You can negotiate with Cypress Financial to settle your debt. Here’s how to fight back and win.

Known Violations of Cypress Financial Recoveries

Cypress Financial Recoveries violates federal debt collection laws regularly. The Fair Debt Collection Practices Act (FDCPA) protects you from abusive collection tactics. These federal laws prevent debt collectors from specific actions.

Prohibited practices include:

• Continued attempts to collect debt you don’t owe
• Unethical communication tactics
• Disclosure of your debt to anyone except your spouse or lawyer
• Taking or threatening illegal action
• Making false statements
• Improper contact methods
• Excessive phone calls

How to Beat Cypress Financial Recoveries in Court

Cypress Financial Recoveries must prove you are responsible for the debt. As the plaintiff, they carry the burden of proof. They must prove they have the right to sue you. They must prove you are responsible for the debt. They must prove you owe the exact amount claimed.

Their proof must be based on “personal knowledge.” Cypress Financial Recoveries must have seen documents proving your responsibility. These might include credit card bills or a signed credit agreement. Without proper documentation, the evidence is considered “hearsay.” Hearsay cannot be used against you in court.

Our partner Solo helps you respond to debt collectors and fight back in court.

What to Do When Sued for a Debt

You need to explore your options when Cypress Financial sues you. Understanding what to expect is critical for your defense.

Gather Information on the Debt

Cypress Financial Recoveries is not your original creditor. You need to gather information about exactly who they are. Find out how old your debt is. Check if it’s past the statute of limitations. Once the statute expires, your debt becomes “time-barred.” Time-barred debt means you can no longer be sued legally. They still may try to sue you anyway. Suing over time-barred debt violates your consumer rights. You can countersue for this violation.

Respond to the Debt Collection Lawsuit

You must respond within the allotted time on your summons. Response time is typically between 20 to 40 days. Failing to respond opens up other collection avenues. These include wage garnishment, bank levies, and property seizure.

Our partner Solo helps you respond to debt collection lawsuits in 15 minutes.

Show Up for the Hearing

Showing up for your hearing is essential. If you don’t appear, you automatically lose. Your hearing is your chance to provide your defense. The judge will decide whether you must pay. The judge may also give you the chance to settle.

Other Ways to Handle Your Debt

If you owe the debt, you have several options. First, you can set up a payment plan. A payment plan allows you to slowly pay off the debt. Another option is to settle the debt. You can often settle for less than the original amount.

You may owe the debt but believe you shouldn’t legally pay. In this case, you need to prove this to the court. Perhaps you bought an item that didn’t work. Perhaps it was never delivered. You may have a defense against the debt. The same applies if the debt was incurred illegally. Debts signed based on falsehoods can also be challenged.

If you don’t owe the debt at all, several reasons might apply. You might be the wrong person. You might have already paid the debt. In this case, you can demand the debt collector prove it.

Use Affirmative Defenses in Your Answer

Each state handles affirmative defenses differently. Most are similar and you can specify them to your case. If you don’t fully understand what a defense means, don’t use it. You may be asked why you chose a specific defense. You need to explain your reasoning clearly.

Common Affirmative Defenses

The following defenses are most commonly used in debt collection lawsuits. You must find the defenses that work for your case. When you choose an affirmative defense, you need facts to support it.

• Statute of Limitations: The statute of limitations is your best affirmative defense. It time-bars how long you can be brought to court. After the statute expires, you legally cannot be sued. The period ranges from two to 20 years. Most states average between four to six years.
• Lack of Standing: Lack of standing is a powerful defense. It means a debt collector has no legal basis to sue you. There is no clear ownership of the debt. No legal assignment occurred. They may lack proof of chain of custody.
• Failure to State a Claim: You would state “failure to state a claim upon which relief may be granted.” No statute was cited or facts stated to support it. Use this defense when you’re said to owe money with no evidence.

Act fast if you’re struggling with a debt lawsuit. Answer the suit and decide on your affirmative defenses. Your defense choices can make or break your case against Cypress Financial.

Make a Cypress Financial Recoveries Settlement Offer

Cypress Financial Recoveries will work with you during financial challenges. Contact Cypress Financial to make a settlement offer. Start the debt settlement negotiation process today.

Here are expert attorney tips on negotiating debt settlement with Cypress Financial:

• Make a fair offer. Starting at around 50% of the debt is a good rule. Calculate how much you can afford. Make a realistic offer too.
• Be prepared for a counteroffer. You may go through several rounds of negotiations. Reaching an agreement takes patience.
• Don’t mention bankruptcy unless you’re considering it. Making empty threats won’t sit well with collectors. This is especially true if they know your income. They may already know bankruptcy isn’t an option for you.
• Explain your situation. Tell the story of why you fell behind on payments. Send over hardship information and documentation if necessary.
• Pay the settlement as agreed. Honor your commitment once you reach an agreement.

Negotiating a settlement with Cypress Financial can save you thousands. You avoid the stress and cost of going to court. Settlement offers are often your best path to resolving debt.