ESP Receivable Management Debt Defense

ESP Receivable Management is a debt collection company. If you have been contacted by them, you may wonder if the company is legitimate, if you really owe the debt, and if there are defenses available in your case. There are certain steps you should take if ESP Receivable Management has contacted you about an alleged debt. However, you should not take them on your own. Our Fort Lauderdale debt defense lawyer can guide you through the process and make sure your rights are always upheld.

Who is ESP Receivable Management?

ESP Receivable Management specializes in commercial debt recovery for companies around the world. The company was founded in 2013 and they hire collectors, credit managers, and Account Receivables personnel. The company is headquartered in Mandeville, Louisiana, but they try to collect debt from people throughout the United States. If ESP has contacted you, you may have an outstanding debt with a bank, credit card company, healthcare provider, or another creditor.

You mustn’t ignore letters or phone calls from ESP. Even if the company has made a mistake, it can still pursue a lawsuit against you and maybe successful with it. This could result in a wage garnishment, seizure of your assets, and at the very least, a lower credit score.

Is ESP Receivable Management Legitimate?

Yes, ESP Receivable Management is a legitimate company. They are in the business of purchasing original debt from creditors for pennies on the dollar. Original creditors are happy to unload bundles of debtor accounts for at least a portion of the money they loaned, while collection companies are happy to keep any debt they collect as profit.

Unfortunately, just because ESP Receivable Management is a legitimate company, it does not mean they always act fairly or honestly. Like other debt collection companies, ESP has had many complaints filed against it for its illegitimate tactics.

Debt and the Fair Debt Collection Practices Act

Before doing anything, you must understand your rights. According to the federal Fair Debt Collection Practices Act, debt collection companies are prohibited from doing many things, including:

• Threatening to have you arrested if you do not pay the debt
• Calling you many times in one day
• Calling you before 8:00 am or after 9:00 pm
• Contacting your family, friends, or place of employment and talking to them about your debt
• Using threatening or profane language,
• Failing to validate your debt
• Continuing to contact you after sending them a Cease and Desist letter

The above are just a few of how ESP Receivables Management and other collection companies violate the law. If the company has treated you unfairly, you can report them to the Federal Trade Commission (FTC) online or by calling them.

File an Answer Right Away

ESP Receivables Management may have the legal right to file a lawsuit against you if you owe them a valid debt. On the other hand, they may not. One of the most critical things you should do is file your answer to the lawsuit. You have just 20 days to do this so first, you should speak to a Fort Lauderdale debt defense lawyer who can help you prepare your response.

If you do not respond in the appropriate amount of time, the debt collection company can obtain a default judgment against you. A default judgment will remove your right to defend yourself and you may also be responsible for paying debt you do not owe.

Ask ESP Receivables Management to Validate the Debt

ESP Receivables Management has had many complaints filed against it. Many of them accuse ESP of trying to collect on debt that is not legitimate. For this reason, it is important to send the company a letter asking them to validate the debt. While there is no time limit on your request, ESP cannot contact you about the debt until they have validated the debt. They will do this with a Debt Validation Letter, which should include:

• The name of the original creditor,
• The total amount owed, including fees and interest
• The date the debt was incurred,
• The date of the last payment made on the debt, and
• Evidence that links you to the debt.

ESP Receivables Management collects debts originating from many other companies. As such, it is not always easy for them to validate the debt and in some cases, it is impossible.

Negotiate a Debt Settlement

A debt settlement occurs if ESP agrees to accept a lower amount than the total amount of debt. They do this because they would rather recover a portion of the debt rather than none at all. Generally speaking, settlement offers often require consumers to repay between 40 and 60 percent. This can make repaying the debt much more affordable, but it may also require you to pay a lump sum.

It is important to work with a Fort Lauderdale debt defense lawyer when negotiating a debt settlement. A lawyer will have the necessary expertise to negotiate a fair settlement and can make sure it is one you can afford to repay.

After you have reached a debt settlement agreement, keep all records about it in a safe place. These records can prevent ESP Receivables Management, or another company, from trying to come back at some point in the future trying to collect on the debt, even though you have already paid it. Make sure your agreement is in writing and keep any letters, emails, or other records regarding the settlement.

Our Debt Defense Lawyers in Fort Lauderdale Can Defend Your Case

If ESP Receivables Management is contacting you, you must speak to a Fort Lauderdale debt defense lawyer. Our experienced lawyers can advise on the defense strategies available in your case and negotiate on your behalf so you obtain the best possible outcome. Call us now at (954) 523-4357 or online to request a free consultation and get the legal advice you need.