Sued by Atlantic Credit and Finance? Here’s What to Do

Have you received letters, phone calls, or court documents from Atlantic Credit and Finance? You might be getting sued over outstanding debt. Your first instinct might be to ignore it. That’s the worst thing you can do. Ignoring a debt lawsuit leads to devastating financial consequences.

Who Is Atlantic Credit and Finance?

Atlantic Credit and Finance LLC is a legitimate debt buyer. They purchase defaulted consumer debt accounts at a fraction of face value. Then they sue consumers to collect.

The company was founded in 1996 with headquarters in Roanoke, Virginia. According to the BBB, ACF claims they help customers handle debt. In reality, they’re in the business of aggressive debt collection.

Who Does Atlantic Credit and Finance Collect For?

Atlantic Credit and Finance routinely purchases accounts from credit card companies and banks. They buy these debts for pennies on the dollar. Then they try to collect the full amount from you.

What Consumers Say About Atlantic Credit and Finance

Reviews about Atlantic Credit and Finance are mixed. Some consumers report positive experiences negotiating with their collectors. Others describe frustrating phone tag and long wait times.

One borrower named Jodi-Ann shared her experience. She called during regular business hours and waited eight minutes. The representative was pleasant and helped her understand her balance. Communication made all the difference.

You don’t have to play phone tag to resolve your debt. Our partner Solo helps you negotiate and respond to debt lawsuits without the hassle.

What Happens If You Ignore the Lawsuit

Atlantic Credit and Finance knows the system well. They count on you not responding. If you ignore their summons, they’ll get an automatic judgment against you.

A debt judgment can devastate your finances:

• Wage garnishment taking money from every paycheck
• Bank account levies freezing your funds
• Judgment liens on your property leading to foreclosure
• Damaged credit reports for years
• Forced sale of your personal assets

How to Negotiate with Atlantic Credit and Finance

You can avoid the litigation process by negotiating a settlement. Follow these three steps to settle your debt.

Calculate What You Can Actually Pay

Before negotiating, determine your realistic payment amount. Consider your monthly living expenses and other financial obligations. Calculate a lump sum payment if possible. If not, figure out what you can afford in installments.

Start Settlement Negotiations

Once you know your budget, reach out to negotiate. Start by offering 30% to 50% of the original amount. Be prepared to negotiate upward from there. Lump sum payments get better settlement rates than payment plans.

Get Everything in Writing

Never pay a dime without a written settlement agreement. The agreement must clearly state the payment settles the debt in full. It should also confirm they won’t pursue further legal action.

Our partner Solo makes settlement negotiations easier. The platform sends and receives offers digitally until you reach an agreement. You save money and resolve debt faster than through litigation.

Should You Hire a Lawyer for Your Debt Lawsuit?

You might not need a lawyer for this lawsuit. Many debt collection cases lack proper documentation. Debt changes hands multiple times before lawsuits get filed. This creates gaps in the paper trail.

Without proper documentation, the collector can’t prove you owe the amount. You can challenge their case and potentially win without legal representation.

What to Do After Being Sued by Atlantic Credit and Finance

Answer the Lawsuit Immediately

You must respond to the Summons and Complaint. Not responding is the biggest mistake consumers make. Whether you owe the debt or not, you still need to file an Answer.

Without an Answer, Atlantic Credit and Finance gets a default judgment. Then they can garnish your wages and levy your bank accounts. They’ll also add attorney’s fees, court costs, and interest charges.

You typically have 20 to 30 days to respond. Check your summons for the exact deadline. Missing this deadline hands them an easy victory.

Deny Liability Even If You Owe the Debt

Even if you owe this debt, deny liability in your Answer. Admitting guilt gives the collector everything they want. Denying liability forces them to prove their case.

Most debt collectors file lawsuits assuming you won’t respond. When you do, they often back down. They may not want to invest more effort into collecting from you. This creates opportunities to negotiate a lower settlement amount.

Challenge the Debt Collector’s Standing

Question whether Atlantic Credit and Finance has the right to sue you. Debt buyers purchase accounts at very low rates. But they need to prove they own your debt.

This proof requires a complete chain of custody. They need the signed credit card agreement and documentation of each transfer. Most debt collectors don’t have this paperwork. Without it, they can’t prove standing to sue.

You can ask the court to dismiss the case for lack of standing. Make the collector prove they have the legal right to collect from you.

Use the Statute of Limitations Defense

Atlantic Credit often doesn’t check if they can legally sue you. The statute of limitations limits how long collectors can sue for debt. After this time expires, they lose the right to sue.

The statute of limitations varies by state and debt type. Most range from three to six years. If your debt is older than your state’s limit, raise this as a defense. The court will dismiss the case if the deadline has passed.

Consider Countersuing for FDCPA Violations

You can countersue if Atlantic Credit violated the Fair Debt Collection Practices Act. The FDCPA restricts when and how collectors can contact you. Violations include calling outside allowed hours or using abusive language.

If you win an FDCPA countersuit, you can receive damages. The court may award up to $1,000 plus attorney fees. Document every interaction with the collector to build your case.

Your Response Options

Being sued for debt is stressful but manageable. You have multiple options to fight back:

• File an Answer denying liability
• Challenge their standing to sue
• Raise statute of limitations defenses
• Negotiate a settlement before trial
• Countersue for FDCPA violations

The key is taking action immediately. Don’t let the deadline pass. Your response protects your rights and creates negotiating leverage.

Remember, debt collectors expect you to do nothing. When you respond properly, you shift the power dynamic. You force them to prove their case or settle for less.