Cascade Capital is a third-party debt collector that usually purchases delinquent debt from Santander Consumer USA. If you took out a vehicle loan with Santander at some point and the vehicle was later repossessed and sold at auction, Cascade Capital may now be the one trying to sue you. When Cascade sues you, they will attempt to pursue the deficiency balance or the remainder of what you owe after the car was sold at auction.
Hundreds of debtors face lawsuits from Cascade every month in Florida, and many of them are right here in Fort Lauderdale. If you are being sued by Cascade Capital, it is important to call our debt defense firm immediately so we can protect your best interests.
Do Not Ignore a Summons from Cascade Capital
Many people receive a summons from Cascade Capital in the mail and are unsure about what to do about it. The most important thing to do is to not ignore it. Again, Cascade Capital is a third-party debt collector and so, many people do not recognize the name and ignore the summons, thinking it was sent in error.
Cascade Capital is actually hoping that you ignore the summons. If you do, they can pursue a default judgment against you that may allow them to levy your bank account or garnish your wages. They may be successful in obtaining that default judgment because if you do not respond to the summons, you will not have the chance to defend yourself.
If you have received a summons from Cascade Capital, it means they have filed a lawsuit against you. If you do not respond, the company may obtain a default judgment against you, even if they do not have the legal right to continue to pursue payment for the debt.
Before responding to the summons, you should speak to a Fort Lauderdale debt defense firm. A lawyer will advise you on the possible defenses available for your case and will represent you throughout the lawsuit to give you the best chance of a favorable outcome.
Cascade Capital May Not Have Standing
Again, Cascade Capital buys thousands of debts from Santander, and those in Fort Lauderdale represent just a fraction of them. Along with these debts comes an incredible amount of documentation, and things are bound to get lost along the way, or improper transactions may result in missing documents. When this is the case, Cascade Capital cannot prove that they own the debt, which means they have a lack of standing and cannot file a lawsuit against you.
After filing a lawsuit against you, Cascade Capital must prove that they own the debt and that the records they kept are accurate. This is often made even more difficult if they were the third or fourth company to purchase the debt, which is often the case.
You Have Already Settled the Debt
Perhaps you settled the debt with Santander, or maybe there was a prior settlement between you and another debt collector who purchased the debt. If you did, this can certainly provide a defense to any lawsuit filed by Cascade, but you will have to prove that you have already settled the debt. To do this you will have to show documentation of the settlement agreement, and any records that prove you made the agreed-upon settlement amount.
It is for this reason it is so important to keep any documents associated with debts, settlements, creditors, and debt collectors. If you do not, third-party debt collectors such as Cascade may use that to their advantage when you do not have the documentation that could provide a defense for your case.
Cascade May Have Sued the Wrong Party
While it may sound impossible, Cascade sometimes sues the wrong party, and that can also work as a defense. For example, if a married couple took out a car loan and both of their names were on it, they are both liable for the debt. However, if the couple got a divorce and the debt was assigned to just one party during the divorce, they are the only ones liable for the debt. Still, Cascade may try to pursue the spouse no longer liable for it.
This is actually a legal practice. Debt collectors are not required to keep updated on what is going on in the family courts and if you do not remove your name from a debt that you are no longer liable for, you may still be held liable for it. It is important to remove your name from any debt that is no longer yours after divorce, or when you have co-signed for someone and your name is no longer required to hold the loan.
The Statute of Limitations has Expired
Like in all states, debt in Fort Lauderdale is governed by the statute of limitations under state law. This is the amount of time Cascade has to sue you over past debt. In Florida, the statute of limitations on collecting debt is five years, but Cascade is known for ignoring this time limit and pursuing debt collections anyway.
Cascade often argues that you made a payment, which has restarted the clock on the statute of limitations. When they cannot prove that with a bank record or a copy of a check, they may even argue that you paid in cash. A debt defense lawyer can fight these claims and prove that the statute of limitations has expired and all debt collection efforts must stop.
Call Our Debt Defense Law Firm in Fort Lauderdale Today
Receiving a summons from Cascade is scary, but it does not have to mean that they have automatically won their case. At Loan Lawyers, our Fort Lauderdale foreclosure defense lawyer knows how to build you a strong case that can shield you from liability, and harassing phone calls in the future. Call our Florida foreclosure defense lawyer today at (954) 523-4357 or fill out our online form to schedule a free consultation so we can advise on your case.
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Loan Lawyers is made up of experienced consumer rights attorneys who use every available resource to develop comprehensive debt solution strategies. Our goal is to take on those burdens, resolve those problems, and allow our clients to sleep soundly knowing they are on the path to a better future.
