How to Resolve Debt With Westwood Funding (2024 Guide)

Westwood Funding is a revenue-based finance company. They provide working capital to small and medium-sized businesses.

These loans can provide quick cash upfront. The result can be more debt than you can repay. If you can’t repay the debt, Westwood Funding may sue you in court.

If you received a Summons and Complaint from Westwood Funding, you must answer it. Ignoring it can lead to a default judgment against you. Default judgments open doors to wage garnishment, property liens, and bank account levies.

You have options to resolve your Westwood Funding debt. Our partner Solo can help you respond to the lawsuit and negotiate a settlement.

Who Is Westwood Funding?

Westwood Funding Solutions, LLC operates loan offices in Florida, New York, and New Jersey. They offer financing options to businesses, including merchant cash advances and small business loans.

Merchant cash advances give companies quick access to money. They often carry very high interest rates and APRs. These advances can be extremely difficult to pay off.

Westwood Funding offers business financing up to $3 million. Businesses from these industries often obtain funding:

• Commercial real estate
• Trucking industry
• Car lots
• Salons and spas
• Construction
• Medical offices
• Liquor stores
• Hospitality industry
• Auto repair

Westwood Funding provides capital to businesses nationwide across various industries.

The company is accredited by the Better Business Bureau and maintains an A+ rating. You can read consumer reviews on TrustPilot.

Westwood Funding handles its own collections in-house. If a third-party debt collector contacts you, verify it by contacting Westwood Funding directly.

Westwood Funding Contact Information

• Phone: 964-350-0331
• Headquarters: 515 E Las Olas Blvd. Suite 1600, Fort Lauderdale, FL 33301
• Email: underwriting@westwoodfunding.com
• Website: westwoodfunding.com

How to Answer a Westwood Funding Lawsuit

When you’re sued for debt, you receive two documents: the Summons and Complaint. The Summons lists your deadline to file a response. You typically have 14-30 days depending on your state.

The Complaint contains all specific accusations against you. You must respond with a legal Answer document. Failing to respond results in an automatic default judgment against you.

Three steps are involved in responding to the Summons and Complaint.

Step 1: Answer Each Allegation in the Complaint

Read the Complaint thoroughly before responding. You must admit, deny, or state you don’t know about each allegation. Denying as many allegations as possible is generally the best strategy.

Our partner Solo can help you craft proper responses to each allegation.

Step 2: Assert Your Affirmative Defenses

Affirmative defenses are legal reasons that Westwood Funding’s claims are invalid.

Common affirmative defenses include:

• The account is not yours
• The contract was previously canceled
• The statute of limitations has expired
• The debt has already been paid or excused
• The debt has been partially paid

Step 3: File the Answer and Serve the Plaintiff

Filing the Answer correctly is critical. Print two copies and mail one to the court. Pay the filing fee, which ranges from $7 to $450 depending on your state.

Mail the other copy to the plaintiff’s attorney. You’ll find the attorney’s address on the top left of the Summons. The court’s address appears in the first two paragraphs.

Can Westwood Funding Legally Sue You?

You can challenge Westwood Funding’s right to sue. They must prove the debt belongs to you. They must also prove they have legal standing to sue you.

Westwood Funding must provide a credit agreement signed by you. They must also document the chain of custody of all paperwork.

Understanding the Burden of Proof

When served with a lawsuit, the burden of proof rests with the plaintiff. Westwood Funding must prove:

• You are responsible for the debt
• They have the right to sue you
• You owe a specific amount

Demanding proof is one of the best response strategies. When you deny the Complaint’s claims, Westwood Funding must prove every aspect of the debt.

They must show all fees and charges were within the original credit agreement. They must prove you signed the agreement. They must prove the current balance is correct.

Check the Statute of Limitations

The statute of limitations governs how long you can be sued for debt. Rules differ in each state, but typically range from 4-6 years.

The time period starts on the last day you were active on that account.

Creditors often try to get you to pay toward an old debt. Any payment restarts the clock on the statute of limitations. Always check the statute of limitations before agreeing to any payment.

Four Steps to Settle Debt With Westwood Funding

Debt settlement is often the best way to avoid court. Debt collectors know lawsuits are time-consuming and expensive. They often prefer settling for less than the full amount.

Step 1: Review Your Finances

Determine how much you can afford to pay Westwood Funding. A helpful benchmark starting point is 50% of the original debt. Your initial offer should be slightly less than your maximum amount. Having wiggle room gives you negotiation flexibility.

Step 2: Make Your Settlement Offer

Explain how much you’re offering and when you can make payment. Including a description of why you need to settle can be helpful. Be specific about your financial situation.

Step 3: Get Written Agreement

Once you and Westwood reach an agreement, get it in writing. The debt settlement agreement should be signed by both parties. File it with the court if you’ve been sued.

Written agreements protect you from future disputes or legal action. Protection applies as long as you fulfill your end of the agreement.

Step 4: Make Your Payment on Time

Follow the plan outlined in the settlement agreement documentation. Failure to pay on time can escalate things further. Late payments could lead to legal action if it hasn’t been taken already.

If you can’t make your payment on time, contact Westwood Funding immediately. Discuss further options with them. Open communication goes a long way with lenders like Westwood Funding.

If Westwood Funding sued you, receive official notice that the lawsuit has been dismissed. Don’t assume the case is closed until you have written confirmation.

What Happens If You Ignore a Westwood Funding Lawsuit?

Ignoring a lawsuit leads to a default judgment. Default judgments give Westwood Funding powerful collection tools. They can garnish your wages, place liens on your property, or freeze your bank account.

Responding to the lawsuit protects your rights. You force Westwood Funding to prove their case. You create opportunities for settlement negotiations.

Negotiate Before Going to Court

Settlement negotiations can happen at any stage. You can negotiate before being sued, after receiving a Summons, or even during litigation.

Early settlement often works in your favor. Westwood Funding avoids legal costs and you avoid a judgment on your record.

Document all communications with Westwood Funding. Keep records of phone calls, letters, and emails. Documentation protects you if disputes arise later.

Consider Professional Help

Debt collection lawsuits can be complex. Professional help improves your chances of a favorable outcome. Our partner Solo specializes in debt lawsuit responses and settlement negotiations.

Professional assistance helps you avoid costly mistakes. Experts know how to challenge claims and negotiate settlements. They understand court procedures and filing requirements.

Acting quickly is crucial. Your response deadline starts the day you receive the Summons. Missing the deadline can cost you the case.