Debt buying is a big business, and Cypress Financial Recoveries, LLC is one of the biggest debt buyers in the game. They purchase old debts from banks, credit card companies, hospitals, doctors, cell phone companies, and car companies – often for pennies on the dollar.
But even though they only paid a fraction of what the original debt was worth, they will still look to collect the full amount from you. And if that wasn’t enough, they may also tack on interest, penalties, late fees, overdraft fees, and lawyer’s fees.
Violations of Cypress Financial Recoveries
If you’re struggling to pay off debt, you’re not alone. In fact, many Americans are dealing with the same issue. But there is help available. You have rights under the Fair Debt Collection Practices Act (FDCPA) that protect you from abusive debt collectors.
Cypress Financial Recoveries is a company that has been accused of violating the FDCPA in its debt collection practices. The FDCPA is a set of federal laws that regulate how consumer debts may be collected by third-party debt collectors. These laws prevent debt collectors from using certain tactics, such as:
- Continuing to attempt to collect on a debt that you don’t actually owe.
- Using unethical communication tactics.
Best Way to Handle Them
As the plaintiff, Cypress Financial Recoveries has the burden of proof to demonstrate that the defendant is liable for the debt. To satisfy this burden, Cypress Financial Recoveries must prove that they have the right to sue the defendant, that the defendant is responsible for the debt, and that the amount being sued for is owed by the defendant.
To win its case against the defendant, Cypress Financial Recoveries’ submitted proof must be based on “personal knowledge”. This means that Cypress Financial Recoveries must have seen a document that proves that the defendant is responsible for the debt. This might include credit card bills or a signed credit agreement. Otherwise, if the evidence only exists as “hearsay”, it cannot be used against the defendant during court proceedings.
How to Deal with a Debt Lawsuit
If you are being sued by Cypress Financial Recoveries for a debt, it is important to understand your options and know what to expect. This can be a daunting process, but with the right information, you can face your creditors with confidence.
Find out what the debt is
It’s important to know who you’re dealing with when it comes to debt. Find out everything you can about Cypress Financial Recoveries and your debt. How old is the debt? Is it past the statute of limitations?
Once the statute of limitations passes, the debt is considered “time-barred.” This means you can’t be sued for the debt. However, they may still try to do so. This violates your consumer rights and you can counter-sue.
Respond to the lawsuit for debt collection
If you’re served with a debt collection lawsuit, don’t worry – there are things you can do. The summons you received will state how much time you have to respond, which is usually 20-40 days. If you don’t reply within that window, the debt collector may try other methods to get payment from you, such as wage garnishment, bank levies, or property seizure.
Make sure you attend the hearing
If you have been summoned for a hearing, it is important that you attend. If you do not appear, you will lose automatically. This is your opportunity to explain your side of the story and present any evidence you may have. The judge will then decide if you are liable for what you owe or if there is a chance to settle the debt outside of court.
There are other ways to deal with debt
If you find yourself in debt, there are a few things you can do. One option is to set up a payment plan with the company or person you owe money to. This will allow you to pay off the debt over time. Another option is to try and settle the debt for less than what you originally owed. This may be possible if you offer to pay the full amount right away.
If you don’t believe you should have to pay the debt at all, you can take your case to court and attempt to prove that you shouldn’t have to repay what is owed. Reasons for this could include buying something that didn’t work or was never delivered, or if the debt was incurred illegally or under false pretenses.
It’s also possible that the debt collector has confused you with someone else, or that you’ve already paid off the debt in full.
Answering Affirmative Defenses
There are many affirmative defenses available to individuals accused of a crime. Each state has its own specific defenses, but most of them are similar. If you can identify the defense that applies to your case, it may be helpful to mention it in your answer.
However, if you do not fully understand what the defense means, it is probably best not to use it. You may be asked to explain why you chose that particular defense, and you need to be able to defend your decision.
The most common affirmative defenses
There are many different types of defenses that can be used in a debt-collection lawsuit. The best defense is one that is tailored to your specific case and has supporting evidence. Below are some of the most commonly used defenses.
There are a few different ways that you can defend yourself against debt collectors, but the three most common are the statute of limitations, lack of standing, and failure to state a claim.
- The statute of limitations is probably the best defense you can have. This means that the time period for which you can be sued for the debt has expired. The time period varies from state to state but is typically between two and 20 years.
- Lack of standing means that the debt collector does not have a legal right to sue you. This could be because there is no clear evidence that you owe the debt, or because they cannot prove that they are the rightful owner of the debt.
- Failure to state a claim means that the collector has not provided enough evidence to show that you owe the debt. This is usually used when there is no proof or only oral evidence that you owe money.
Debt lawsuits can be daunting, but it is important to act fast and make sure you are prepared. This article will provide some tips on how to answer a suit and develop affirmative defenses. With a little bit of planning, you can improve your chances of beating Cypress Financial Recoveries in court.
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