Are Calls from Accelerated Inventory Management, LLC a Scam?

It is not uncommon for people to receive phone calls regarding their debt and assume it is a scam. It is natural to make this assumption because so many of them are. However, if you are receiving phone calls from Accelerated Inventory Management, LLC, it is important to understand that the company is not a scam. Accelerated Inventory Management is a legitimate company that may take legal action against you if they have started calling. If you do not take action, it could impact your financial future. A Fort Lauderdale debt defense lawyer can help you protect it.

Who is Accelerated Inventory Management, LLC?

Accelerated Inventory Management is a debt buyer based out of Austin, Texas. The company purchases debt that has been charged off by creditors, such as credit card companies, for pennies on the dollar. Once they have purchased these accounts, they then pursue them and try to collect them from borrowers. In many cases, this means taking legal action, such as filing a lawsuit against debtors.

While Accelerated Inventory Management, LLC is based in Texas, they purchase thousands of defaulted accounts all over the country. Many of the people they sue are located right here in Florida. In most instances, companies such as Accelerated Inventory Management are hoping that consumers will ignore notice of the lawsuit so they can obtain a default judgment. A default judgment will allow the company to garnish a borrower’s wages or take other legal action. Many times, they are successful with this strategy.

Fortunately, there are defenses available in these lawsuits. A Florida debt defense lawyer can advise on what these are, and how to use them in your case.

Accelerated Inventory Management, LLC May Lack Standing

In order for Accelerated Inventory Management, LLC to file a lawsuit against you, they must show that they have standing. Standing is a legal term that refers to the fact that the company has something to lose, or they have already lost something, and they are suing you to recover it. Borrowers often assume that companies such as Accelerated Inventory Management, LLC have standing to file a lawsuit, but that is not always true.

Although Accelerated Inventory Management, LLC may currently have your account, it likely changed hands many times before they received it. Debt buyers do not only purchase debt from creditors but from other debt-buying companies, as well. As these different companies buy and sell accounts, the paperwork sometimes gets lost and the company trying to pursue the debt cannot prove they actually own it, or that they have standing. This can serve as a defense in many lawsuits Accelerated Inventory Management, LLC files.

You Can Claim Damages if Accelerated Inventory Management, LLC Violates the Law

There are many state and federal laws debt collectors such as Accelerated Inventory Management, LLC must follow when they are trying to recover a debt. One of the main federal laws is the Fair Debt Collection Practices Act (FDCPA) which protects all consumers in the country. The Act includes a long list of what debt collectors cannot do when they are trying to collect on a debt. Some of these actions include not calling you before 8:00 a.m. or after 9:00 p.m., not using threatening language, and not calling you multiple times a day.

There are real consequences debt collectors face if they violate the FDCPA. If Accelerated Inventory Management, LLC has harassed you or otherwise infringed on your rights, you can file a lawsuit against the company. If you are successful with your lawsuit, you can recover $1,000 in statutory damages, as well as your attorney’s fees.

Another major piece of federal legislation that protects borrowers is the Telephone Consumer Protection Act (TCPA). Under this Act, debt collectors are prohibited from using robocalls to contact borrowers. Robocalls are made by computers that automatically dial numbers, again and again, all day long. Sometimes, they even contact the same borrower multiple times a day. Robocalls are fairly easy to identify. When you pick up the phone, you may not receive a response, or it may take a long time for a live person to pick up the phone.

Just as you can file a lawsuit over a violation of the FDCPA, you can also file a lawsuit against any company that violates the TCPA. If you are successful with your case, you can recover between $500 and $1,500 for every call Accelerated Inventory Management, LLC made that violated the law.

What to Do if Accelerated Inventory Management, LLC Contacts You

The most important thing you can do if Accelerated Inventory Management, LLC has called you is to contact a lawyer. Many people assume the best action to take is to try and pay the debt, but that is not always true. There is a chance the statute of limitations, or time limit, has run out on your debt. If that is the case, it can serve as a defense in your lawsuit because the company no longer has a legal right to sue you. If you do make a payment, it will restart the clock on the statute of limitations, which will mean they will have a right to sue you.

It is just as crucial that you do not ignore Accelerated Inventory Management. While you should not speak to them without first contacting an attorney, if they are contacting you, they may try to file a lawsuit against you shortly. If you ignore the lawsuit, things will become even more dire. A debt defense lawyer will communicate with the company on your behalf and advise you of any defenses available in your case.

Call Our Debt Defense Lawyers in Florida Today

At Loan Lawyers, our Florida bankruptcy attorney has helped many clients fight back against Accelerated Inventory Management, LLC, and we will put our experience to work for you, too. Call our Fort Lauderdale bankruptcy attorney today at (954) 523-4357 or fill out our online form to schedule a free consultation and obtain the sound legal advice you need.