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How to Resolve a Regional Finance Lawsuit

George Simons | August 14, 2024

George Simons
Co-Founder of SoloSuit
George Simons, JD/MBA

George Simons is the co-founder and CEO of SoloSuit. He has helped Americans protect over $1 billion from predatory debt lawsuits. George graduated from BYU Law school in 2020 with a JD-MBA. In his spare time, George likes to cook, because he likes to eat.

Edited by Hannah Locklear

Hannah Locklear
Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

Summary: Are you being sued by Regional Finance for an old debt? Learn how to make a defense and win against Regional Finance in court.

If you are being contacted by a Regional Finance debt collector, it's natural to feel overwhelmed and uncertain about your options. While dealing with a debt collection can be stressful, it’s important to remember that you have rights and there are ways to settle the debt, even if you're facing a lawsuit.

Instead of viewing the situation as a battle, consider exploring options for resolving the lawsuit through negotiation or debt settlement. By working towards a mutually beneficial resolution, you can potentially alleviate the burden of the debt while also avoiding the need for a prolonged court battle.

Below, we explain everything you need to know about Regional Finance and how to resolve debt with the company.

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Who Is Regional Finance?

Regional Finance is a personal loan corporation based in South Carolina. They market themselves as a company that assists consumers with poor credit scores to procure personal loans and other forms of finances. Regional Finance is also notorious for sending out mass mailers to homes containing “pre-approved” loans (that typically are accompanied by a high-interest rate).

The company has over 300 offices throughout eight specific states - New Mexico, Texas, Oklahoma, Tennessee, Georgia, Alabama, North Carolina, and South Carolina. As a result, Regional Finance typically only accepts loan applications from residents based in one of these states.

Regional Finance has developed a reputation for being extremely aggressive when attempting to collect outstanding debts. Numerous consumer complaints have been filed with the Better Business Bureau, Consumer Financial Protection Bureau, and other agencies alleging collectors with Regional Finance violated various provisions of the Fair Debt Collections Practices Act. For example, multiple consumers reported that collectors affiliated with Regional Finance engaged in inappropriate and unethical communications and attempted to collect on debts that were not actually owed.

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Respond promptly to a Regional Finance debt collection lawsuit

If you are served with a Complaint filed by Regional Finance, it is extremely important to respond to the lawsuit in a timely manner. Do not ignore the Regional Finance lawsuit. One of the most common mistakes people make when they are sued by a creditor or debt collection agency is failing to respond to the lawsuit. Please understand that you gain nothing by doing nothing.

Whether you owe the debt or believe you were sued by mistake, you need to take action and file a formal response to the lawsuit. In legal terms, your response to the Complaint is known as an Answer.

The reason filing an Answer is so important is because failing to do so is admitting defeat and letting Regional Finance file a motion to obtain a default judgment against you. Once a default judgment is entered by the Court, you are effectively at the mercy of Regional Finance. They would then be empowered to garnish your wages, take money from your bank account, collect attorney's fees and court costs, and seize your personal property.

Another important reason to file a formal Answer to the debt collection lawsuit is that it buys you time to negotiate debt settlement, which is typically the best way to resolve a debt lawsuit.

Many debt collection companies like Regional Finance assume you will not file an Answer. This is because the vast majority of people who are subjected to a collection lawsuit will fail to file a response. As a result, when you take the time to file an Answer, it catches many debt collectors off guard and could create an opportunity to try and reach a settlement or out-of-court resolution with the debt collector.

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Resolve a Regional Finance lawsuit through debt settlement

As mentioned above, debt settlement is often the ideal outcome in a debt collection lawsuit; it allows the consumer to save money while ensuring the creditor or debt collector gets at least some of their money back.

Here's how the debt settlement process typically works:

  • Regional Finance sues you for the debt.
  • You file an Answer into the case to block a default judgment.
  • You determine how much you can afford to pay in a lump-sum settlement, or in monthly installments.
  • You reach out to the lawyer representing Regional Finance and make an offer to settle.
  • Negotiations begin. This may take several separate conversations, and it requires both sides to be cordial and open.
  • Both side come to an agreement.
  • The lawyer drafts a debt settlement agreement and files it into the court case.
  • You pay the settlement as agreed and clear your name of the debt by doing so.

Note sure how to negotiate debt settlement? We asked a licensed attorney for some tips on negotiating with lawyers, debt collectors, and creditors to reach an ideal debt settlement agreement. Watch the video below to learn more.

Use SoloSettle to negotiate with Regional Finance and settle the debt online.

Ask Regional Finance to prove that you owe the debt

The debt claimed in Regional Finance lawsuit may have been packaged, sold, and resold by multiple companies. As a result, a strategy for challenging the collection lawsuit is simply requesting that the debt collection company provide evidence that you owe the alleged debt.

For example, you should demand that the collection company provide a copy of the signed agreement and balance on the purportedly delinquent account from zero to present. In many instances, the debt collection company only has sparse documentation and may not even have sufficient evidence to respond.

Check that the Regional Finance lawsuit was filed within your state's statute of limitations

As mentioned earlier, many debt collection companies (including Regional Finance) assume people will not file a formal Answer to the debt collection lawsuit and they will obtain a default judgment. As a result, there are many instances when the debt collector fails to take the time to confirm that they have the legal ability to sue you for the debt. Keep in mind, if the applicable statute of limitations has expired, the debt collector is prohibited from suing you. In most states, a debt collector only has a finite amount of time to sue you for an alleged delinquent debt.

If it turns out that the statute of limitations has lapsed, you can raise this issue as an affirmative defense that could enable you to file a motion to dismiss the debt collection lawsuit entirely.

Consider filing a counterclaim

In addition to raising different affirmative defenses in response to the debt collection lawsuit filed by Regional Finance, you should explore the viability of going on offense by filing a counterclaim against this debt collection company. A counterclaim could be pursued if there is evidence that a collection agent affiliated with Regional FInance violated a provision, or provisions, of the Fair Debt Collection Practices Act (FDCPA).

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Takeaways for what to do when sued by Regional Finance

Here is what you need to do if you receive a debt collection notice or debt collection lawsuit filed by Regional Finance:

  • Keep track of any phone calls made by a debt collector affiliated with Regional FInance that occurred before 8:00 A.M. or after 9:00 P.M.
  • Keep track of any phone calls made to your workplace.
  • Keep track of any vulgar or inappropriate language used by the debt collector when they speak with you.
  • Make sure to file your Answer to the Complaint on time.
  • In your Answer, raise affirmative defenses like the statute of limitations and ask for proof of the specific amount owed.

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