Velocity Investments: Who They Are and Your Rights

Type

Debt buyer

Also known as

Velocity Investments, LLC; Velocity Portfolio Group, Inc.; Velocity Asset Management, Inc.

Headquarters

Wall, NJ

Collects

credit card accounts, other charged-off consumer credit accounts

Phone numbers it lists

(732) 556-9090, (800) 558-4027

Website

velocityrecoveries.com

1,467 debt collection complaints were sent to the Consumer Financial Protection Bureau about Velocity Portfolio Group from November 13, 2023 to November 12, 2026. A complaint is a consumer's account, not a finding that the company broke the law. Read the complaints in the CFPB database.

Who Is Velocity Investments?

Velocity Investments, LLC calls itself "a consumer credit account purchaser focused on extending the borrowing experience into post charge-off stages." Its website says it was established in 2003, is headquartered in Wall, New Jersey, and has been an RMAI Certified Receivables Business since 2015.

The CFPB complaint database files complaints under "Velocity Portfolio Group." SEC filings explain the name. Velocity Portfolio Group, Inc. (formerly Velocity Asset Management, Inc., a name it used until November 2008) reported in its 2008 annual report that Velocity Investments, LLC was its wholly owned subsidiary. That report described the business as buying unsecured consumer receivables, mainly credit card debt, and collecting them "through an outsourced legal collection network," with accounts placed at more than 80 law firms. Those filings are from 2009; we have not found a more recent public filing on the ownership.

Why Velocity May Be Contacting You

A Velocity letter usually means it says it bought your account after the original lender charged it off. Because the company has historically used law firms to collect, the first notice may come from a firm acting for Velocity.

Velocity's site lists (732) 556-9090 as its main number and (800) 558-4027 as its toll-free number, weekdays 9 a.m. to 5 p.m. Eastern. Its posted Texas disclosure states that for debts too old to sue on, Velocity "cannot sue you for it" and will not report it to the credit bureaus.

How to Check a Debt Velocity Says You Owe

The documents connecting Velocity to your original account are the heart of any dispute.

• Read the validation notice. It must name the original creditor and show the balance on the itemization date and every change since (15 U.S.C. § 1692g; 12 C.F.R. § 1006.34).
• Dispute in writing within the validation period. Ask for the bill of sale and the account schedule listing your account, the loan or card agreement, and the charge-off statement. Velocity's own licensing page lists the kinds of records it says consumers may request in some states.
• Pull your own history. If the original lender was an online lender or card issuer, your old account portal or statements may still show your payments; compare the charge-off balance with what you actually paid.
• Measure the four years. Texas generally allows four years to sue on a consumer debt (Tex. Civ. Prac. & Rem. Code § 16.004), and debt buyers cannot sue on time-barred consumer debts in Texas (Tex. Fin. Code § 392.307). Other states' limits differ. See our update on the Texas ban on suits over time-barred debt.

If you've been served, read being sued by Velocity Investments in Texas.

What Velocity Can and Can't Do

Velocity owns the debts it collects. After Henson v. Santander Consumer USA Inc. (2017), FDCPA coverage of a buyer like Velocity depends on whether debt collection is its principal purpose (15 U.S.C. § 1692a(6)). The law firms it hires are covered as debt collectors under Heintz v. Jenkins, 514 U.S. 291 (1995).

• It may not sue or threaten to sue on a time-barred debt (12 C.F.R. § 1006.26(b)).
• A law firm writing for Velocity may not imply an attorney has reviewed your file if none has (15 U.S.C. § 1692e(3)).
• It may not add interest or fees the original agreement does not allow (15 U.S.C. § 1692f(1)).
• Even with a judgment, it cannot garnish wages for an ordinary consumer debt in Texas (Tex. Const. art. XVI, § 28).

If a Velocity collection crossed these lines, see our Texas FDCPA attorneys page.

Being sued by Velocity Investments? Read our full lawsuit guide →

We Sue Debt Collectors That Break the FDCPA

Texas Debt Law files Fair Debt Collection Practices Act lawsuits against debt collectors in federal court for consumers in Texas, California, Illinois, Georgia and Colorado. If Velocity Investments or anyone collecting for it harassed you, misstated what you owe, threatened action it could not take, or told others about your debt, you may have a claim. A court can order a collector that violated the FDCPA to pay your actual damages, up to $1,000 in additional statutory damages, and your attorney's fees and costs (15 U.S.C. § 1692k(a)). An FDCPA claim generally must be filed within one year of the violation (§ 1692k(d)), so keep your letters, call logs, voicemails and screenshots, and talk to us early. Texas residents may also have claims under the Texas Debt Collection Act. Learn more from our FDCPA attorneys.

Free FDCPA Case Review(214) 851-2250

Or start your free case evaluation online. No lawyer can promise a result; every claim depends on its facts and proof.

Sources

• Velocity Investments: About
• Velocity Investments: Official phone numbers
• Velocity Investments: State licensing and disclosures
• Velocity Portfolio Group, Inc., Form 10-K for 2008 (SEC)
• SEC EDGAR: Velocity Portfolio Group Inc (CIK 813565) former names
• CFPB enforcement actions search
• CFPB Consumer Complaint Database: Velocity Portfolio Group, debt collection

This profile is general information compiled from public sources, not legal advice, and it does not state or imply that Velocity Investments has violated any law. Company details change; tell us if something here is out of date.