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Business Profile

Collections Agencies

Velocity Investments, LLC
BBB accredited business seal
BBB Accredited BusinessA+Rated by BBB

Complaints

Customer Complaints Summary

  • 312 total complaints in the last 3 years.
  • 126 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint status

Complaint type

  • Initial Complaint

    Date:07/29/2024

    Type:Sales and Advertising Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Threats of legal action by Velocity Investments LLC via letter have arrived in the last few weeks. I have no idea who they are or why they are contacting me per an alleged debt. This type of harassment and big money legal bullying is unwelcomed and needs to stop now. Especially in regards to any debt, unexplained and not validated.

    Business Response

    Date: 08/14/2024

    Velocity Investments, LLC (Velocity) acknowledges receipt of the consumers complaint. Velocity is unable to locate this account in our system with the information provided by the consumer. Should the consumer continue to have further questions we invite them to contact our office.

  • Initial Complaint

    Date:07/24/2024

    Type:Order Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    This company velocity is trying to get 4160 from me I never had a contract with them. And I never gave them permission to get documents of a bank because I didnt do a contract with them ************* I see is trying to *** people . With no paperwork given whatsoever to *** did not sign no documents that gives them authorization to act into a 3 rd party

    Business Response

    Date: 08/12/2024

    Velocity Investments, LLC (Velocity) acknowledges receipt of the consumers complaint. Velocity purchased this account in good faith and for value. As a result of the complaint a member of our Compliance Team investigated the allegations. This account is being serviced by the law firm, Marcadis & Associates. An initial demand letter was sent on March 14, 2024, and suit was filed on May 30, 2024.Verification documents were sent to the consumer on June 4, 2024. Should the consumer continue to have further questions or concerns we invite them to contact ******** & Associates at **************. to discuss the matter further.

    Customer Answer

    Date: 08/12/2024


    Complaint: 22037232

    I am rejecting this response because:



    Regards,

    *********************************

  • Initial Complaint

    Date:07/23/2024

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I reviewed my Consumer Reports and noticed that there was an inaccurate accounts on my credit report ACCOUNT NAME: ********************** - ACCT# ********* ACCOUNT NAME: ********************** - ACCT# ********* *************************** have assumed a vital role and have a responsibility to report Consumer information to the best of their ability with maximum accuracy.I contacted ******** and asked for them to investigate & remove the inaccurate account from my consumer report that they are illegally reporting and I requested specifically the alleged original application bearing my signature and they have not been able to provide such proof to me.This is a violation of the Fair Credit Reporting Act, and these disputed items may not appear on my credit report if they can't be verified by any evidence or proof.

    Business Response

    Date: 08/12/2024

    Velocity Investments, LLC (Velocity) acknowledges receipt of the consumers complaint. Velocity purchased these two accounts in good faith and for value. As a result of the complaint a member of our Compliance Team investigated the allegations. Velocity does not report tradelines to the credit reporting agencies and is not reporting a tradeline for either of these two accounts. Should the consumer continue to have further questions or concerns regarding these two accounts, we invite them to contact us to discuss the matter further.

  • Initial Complaint

    Date:07/17/2024

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I have been notified of a summons for a debt transferred to Velocity Investments, LLC. The Upstart Loan account ending in 7787 was obtained by Velocity Investments as of 10/04/2021 (communicated via Summons). Velocity Investments are in violation of Federal Law and I'm requesting $1000 per violation. They have violated 12 CFR (ID701218114) - ********. The qualified lender must obtain from the borrower a signed written consent to the sale. I NEVER GAVE WRITTEN PERMISSION for this sale. Further more before any information can be shared/reported on a credit reporting party such as Equifax Transunion and Experian the consumer has the opportunity to Exercise his right of non disclosure of personal information to any 3rd party.Additionally, I have contacted Velocity Investments by the number listed on their website **************, and every time I am sent to an undisclosed voicemail and unsuccessful speaking to a representative. I am requesting for the following items from Velocity Investments, LLC:- A verification of the Statute of Limitations for the loan account ending in 7787.- A Validation Letter from Velocity Investments, LLC regarding the debt for the loan account ending in 7787.- Debt Verification and for the loan account ending in 7787, including full disclosure of the account number and related charges.- Verification of the Velocity Investment, LLC, Account Number connected to the loan account ending in 7787.- A Supervisor contact me from Velocity Investments, LLC to negotiate agreement for the loan account ending in 7787, if the debt is properly verified/validated to reflect ownership and the debt attempted to collect isnt in violation of aforementioned federal law.-The creditor file a Notice of Discontinuance with the Tolland Judicial District of ***********, Juris Number ******.

    Business Response

    Date: 07/27/2024

    Velocity Investments, LLC (Velocity) acknowledges receipt of the consumers complaint. Velocity purchased this account in good faith and for value. As a result of the complaint a member of our Compliance Team investigated the allegations. This account is being serviced by the law firm, Law Offices of ***********************, LLC. An initial demand letter was sent to the consumer on April 9, 2024, and suit was filed on July 9, 2024. There has been no communication from the consumer. Verification documents have been sent to the consumer as requested. Should the consumer continue to have further questions or concerns we invite them to contact Law Offices of ***********************, LLC at ************** to discuss the matter further.

    Customer Answer

    Date: 07/28/2024


    Complaint: 22001953

    I am rejecting this response because:

    No demand letter was received from the business. There was no legitimate attempt to make contact until suit was filed, such as notification via certified mail, phone, or email. Contact will be made to the firm following an Answer filed with local Judicial District.  


    Regards,

    *****************************

  • Initial Complaint

    Date:07/08/2024

    Type:Service or Repair Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Velocity It has come to my attention that you obtain this account "****8295 Upstart loan, has been transferred to Velocity Investments, LLC as of date unknown 2024,"You are hereby notified that you have Violated Federal Law and I'm requesting $1000 per Violation of the **** You have Violated 12 CFR ******** (ii) The qualified lender must obtain from the borrower a signed written consent to the sale. I NEVER GAVE WRITTEN PERMISSION TO THE **** OF THIS. Additionally, before any information can be shared/reported on a credit reporting party such as Equifax Transunion and Experian the consumer has the opportunity to Exercise his right of non disclosure of personal information to any

    Business Response

    Date: 07/15/2024

    Velocity Investments, LLC (Velocity) acknowledges receipt of the consumers complaint. Velocity purchased this account in good faith and for value. As a result of the complaint a member of our Compliance Team investigated the allegations. This account is being serviced by Law Offices of *********************** LLC. An initial demand letter was sent on April 1, 2024, and suit was filed on June 13, 2024. There has been no communication from the consumer. Velocity does not report tradelines to the credit reporting agencies and is not reporting a tradeline on this account. Should the consumer continue to have further questions or concerns we invite them to contact Law Offices of *********************** LLC at ************** to discuss the matter further.

    Customer Answer

    Date: 07/16/2024


    Complaint: 21956852

    I am rejecting this response because: I spoke to someone at ***** and they stated that i was notified via mail in February regarding Velocity collecting th debt. I have not received anything in February or in April of 2024.



    Regards,

    *********************** (chilious)

    Business Response

    Date: 08/12/2024

    Velocity Investments, LLC (Velocity) acknowledges receipt of the consumers complaint. Velocity purchased this account in good faith and for value. As a result of the complaint a member of our Compliance Team investigated the allegations. This account is being serviced by Law Offices of *********************** LLC. An initial demand letter was sent on April 1, 2024, with no return mail received, and suit was filed on June 13, 2024. Should the consumer continue to have further questions or concerns we invite them to contact Law Offices of *********************** LLC at ************** to discuss the matter further.

  • Initial Complaint

    Date:07/04/2024

    Type:Order Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I do not have a contract with Velocity Investments LLC the collection agency. They did not provide me any debt validation via mail or email They have contacted a lawyer to *** me! I have a fixed income and due to unforeseen circumstances, my wife and I were forced to move out of our rental home (landlord sold the house) to an apartment that costs more than half of what I make. By the time I pay the bills, we are broke again. I simply can not do what I did 3 yrs ago now!

    Business Response

    Date: 07/11/2024

    Velocity Investments, LLC (Velocity) acknowledges receipt of the consumers complaint. Velocity purchased this account in good faith and for value. As a result of the complaint a member of our Compliance Team investigated the allegations. This account is being serviced by the law firm, ***** Group Attorneys. An initial demand letter was sent to the consumer on May 15,2024. There has been no communication with the consumer, despite call attempts from ***** Group Attorneys. Should the consumer continue to have further questions or concerns we invite them to contact ***** Group Attorneys at ************** to discuss the matter further.

  • Initial Complaint

    Date:07/03/2024

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Velocity paid ****** for the debt and they sued for the amount owed to the original creditor. HORRIBLE company! When I called to make payment arrangement was put on hold for an hour no one ever answered.

    Business Response

    Date: 07/11/2024

    Velocity Investments, LLC (Velocity) acknowledges receipt of the consumers complaint. Velocity purchased this account in good faith and for value. As a result of the complaint a member of our Compliance Team investigated the allegations. This account is being serviced by *************************,LLC. An initial demand letter was sent on August 4, 2023, and suit was filed on September 29, 2023. *************************, LLC spoke with the consumer on July 3, 2024,and set up a partial payment plan with the consumer. Should the consumer continue to have further questions or concerns we invite them to contact *************************, LLC at ************** to discuss the matter further.

    Customer Answer

    Date: 07/11/2024


    Complaint: 21938932

    I am rejecting this response because:

    When I finally got ahold of the third party this Velocity hired to make payments with they refuse to accept what I can afford which goes against what Velocitys attorney representing them said and the judge. 

    Regards,

    *************************

  • Initial Complaint

    Date:06/26/2024

    Type:Order Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    This company is in violation for coming after me for this amount $4016.60. There is no original creditor and I didn't ever sign a contract with this company authorizing anyone to sell my account to them

    Business Response

    Date: 06/28/2024

    Velocity Investments, LLC (Velocity) acknowledges receipt of the consumers complaint. Velocity purchased this account in good faith and for value. As a result of the complaint a member of our Compliance Team investigated the allegations. This account is being serviced by the law firm, Mandarich Law Group, LLP. An initial demand letter was sent to the consumer on October 12, 2023, and suit was filed on December 4, 2023. There has been no communication from the consumer. Should the consumer continue to have further questions or concerns we invite them to contact Mandarich Law Group, LLP at ************** to discuss the matter further.

  • Initial Complaint

    Date:06/25/2024

    Type:Sales and Advertising Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I recieved a notice and saying I owe money to them. When I called they had no idea that I owed anything to them and it's not on my credit report. They wanted mw to pay them a monthly fee . Never had any correspondence or call from them and had no idea what this is about . Never had a loan from them either. This needs removed

    Business Response

    Date: 06/28/2024

    Velocity Investments, LLC (Velocity) acknowledges receipt of the consumers complaint. Velocity purchased this account in good faith and for value. As a result of the complaint a member of our Compliance Team investigated the allegations. This account is being serviced by the Clarkson Law Firm. An initial demand letter was sent to the consumer on February 7, 2024,and suit was filed on June 20, 2024. There has been no communication from the consumer other than an answer to the lawsuit simply denying everything. Verification documents have been sent to the consumer. Should the consumer continue to have further questions or concerns we invite them to contact ******** Law Firm at ************** to discuss the matter further.

  • Initial Complaint

    Date:06/25/2024

    Type:Order Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I am not liable for this debt with Velocity Investments, LLC. I do not have a contract with Velocity Investments, LLC. I was notified of a lawsuit being filed against me with court papers for a debt that I do not owe to Velocity Investments LLC. There is no contract stating that I ever signed any documentation through Velocity Investments.

    Business Response

    Date: 06/26/2024

    Velocity Investments, LLC (Velocity) acknowledges receipt of the consumers complaint. Velocity purchased this account in good faith and for value. As a result of the complaint a member of our Compliance Team investigated the allegations. This account is being serviced by the *************************, LLC. An initial demand letter was sent to the consumer on December 26,2023, and suit was filed on February 16, 2024. There has been no communication from the consumer. A dispute has been noted on the account and verification documents have been sent to the consumer. Should the consumer continue to have further questions or concerns we invite them to contact *************************, LLC at ************** to discuss the matter further.

Velocity Investments, LLC is BBB Accredited.

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