Last week in Arlington General District Court, business lender QuarterSpot Inc. obtained 19 judgments totaling $1,358,560. QuarterSpot was able to obtain most (if not all) of these judgments because the defendant never entered an appearance. Lee Legal will defend your QuarterSpot lawsuit in Arlington General District Court or Alexandria General District Court.
QuarterSpot small business loans
Online small business lender QuarterSpot provides short-term business loans for bad-credit borrowers. QuarterSpot offers six- to 18-month loans up to $250,000 at interest rates from 30 percent to 70 percent.
Business owners are typically not responsible for the debts of a business. QuarterSpot, however, checks the business owner’s personal credit rating before it decides to extend credit and requires a personal guarantee. A business owner’s personal liability on a business loan gives rise to concurrent liability for the business and owner alike.
On March 22, 2019, the Securities and Exchange Commission sued investment advisor Direct Lending Investments (or DLI), in part for falsifying loan repayment information reported by QuarterSpot.
QuarterSpot lawsuit in Arlington or Alexandria? Get a lawyer pronto.
Over the past few months, QuarterSpot has obtained hundreds of judgments simultaneously against both business and business owner. You cannot simply ignore QuarterSpot because your business has closed, especially if you have personally guaranteed a business loan. You must mount a defense. Do not allow a default judgment to be entered simply because the business is going under or because you live far away from the choice of venue.
Plaintiffs like QuarterSpot initiate collections lawsuits in Virginia by filing a warrant in debt. Once served, you must take action. Virginia general district court have very tight timelines.
Do not file anything with the court or talk to opposing counsel before you talk to an attorney. Lee Legal provides debt defense to clients facing lawsuits in Arlington General District Court and Alexandria General District Court. You can reach us at (202) 448-5136.