JH Portfolio Debt Equities LLC[yoast-breadcrumb]
Understanding JH Portfolio Debt Equities LLC
JH Portfolio Debt Equities LLC is a major player in the debt collection industry. As a financial services company ourselves, we wanted to provide some background on JH Portfolio and what dealing with them might entail for consumers.
Who is JH Portfolio Debt Equities?
JH Portfolio, based in New York, purchases portfolios of defaulted consumer debt from creditors and banks at a steep discount
. They are a leader in buying and collecting on distressed consumer debt.Once they purchase the debt, JH Portfolio attempts to collect on it directly from consumers. They file lawsuits against consumers to try to obtain judgments to allow garnishment of wages or bank accounts.
JH Portfolio’s Reputation
JH Portfolio has developed a reputation as an aggressive debt collector. They have been accused of violating consumer protection laws like the Fair Debt Collection Practices Act
.Some of their tactics have drawn scrutiny, such as:
- Filing lawsuits without proper documentation or concrete injury
- Attempting to collect on debt that was settled or beyond the statute of limitations
- Harassing consumers with frequent calls
- Threatening dire consequences if consumers don’t pay
They seem to take a “collect by any means necessary” approach.
The Debt Collection Process
If you are contacted by JH Portfolio about a debt, here is what you can expect:
- Validation request: You can send them a debt validation letter requesting proof that you actually owe the debt. This stops collection activity until they provide verification
- Settlement offer: JH may offer to settle for a percentage of the debt (say 40%). Get any settlement offer in writing before paying.
- Lawsuit: If you can’t reach a settlement, JH may sue to obtain a judgment against you. At this point, contact a consumer rights lawyer.
- Wage/bank garnishment: If they obtain a judgment, JH can legally garnish your paycheck or bank account funds.
Strategies for Dealing with JH Portfolio
If JH Portfolio contacts you, here are some tips:
- Record calls to document harassment, lies, or other FDCPA violations.
- Don’t acknowledge the debt as this restarts the statute of limitations.
- Request validation and only pay if they verify the debt is truly yours.
- Negotiate – offer low lump sum settlements to resolve the debt. Get any deal in writing.
- If sued, hire a lawyer to respond and raise defenses like expired debt.
Consumer Rights and Protections
If you are contacted by JH Portfolio or any debt collector, you have rights including:
- Debt collectors cannot harass, lie, or threaten you [FDCPA 15 USC 1692d].
- Debt collectors must validate and verify the debt if asked [FDCPA 15 USC 1692g].
- The statute of limitations caps how long they can sue you to collect [FDCPA 15 USC 1692f].
- Illegal collection practices can lead to damages of $1,000-$3,000 per violation [FDCPA 15 USC 1692k].
Dealing with JH Portfolio Debt Equities or any debt collector can be stressful. But knowing your rights and taking proactive steps can help:
- Record calls and document collection attempts
- Don’t acknowledge debts – ask for written validation
- Negotiate settlements and get any deal in writing
- If sued, hire a consumer lawyer to defend you
- Understand your rights under the FDCPA and state law
With the right moves, you can defend yourself against aggressive collectors like JH Portfolio. Don’t let them intimidate you – stand up for your consumer rights.
FAQ About JH Portfolio
What types of debt does JH Portfolio collect on?
JH Portfolio purchases and collects on all types of defaulted consumer debt including credit cards, medical bills, personal loans, auto loans, and more. They buy debt for pennies on the dollar.
How aggressive are their collection tactics?
JH Portfolio has a reputation for very aggressive tactics like frequent calls, threats of lawsuits, and even calling consumers’ workplaces. They routinely violate consumer protection laws. Recording calls can help prove FDCPA violations.
What if I can’t afford to pay the full debt amount?
You can attempt to negotiate a settlement for a fraction of the full debt. Get any deal in writing before sending payment. Offers of 40-60% are common.
What if I’m sued by JH Portfolio?
Notify them in writing that you dispute the debt to prevent a default judgment. Hire a lawyer to respond to the suit and raise defenses to defeat their collections lawsuit. Expired debts or lack of proper documentation are common defenses.
Can JH Portfolio garnish my wages or bank account?
If they obtain a court judgment against you, JH Portfolio can legally garnish your wages or levy your bank account. This allows them to collect their judgment directly from your income or assets. Wage garnishment is limited to a percentage of disposable income.We hope this overview provides useful context on JH Portfolio Debt Equities and how to deal with this major debt collector. Let us know if you have any other questions!