Negotiate Debt With Crown Asset Management

George Simons | December 13, 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.

Fact-checked by Patrick Austin, J.D.

Patrick Austin
Attorney from George Mason
Patrick Austin, JD

Patrick Austin is a licensed attorney with a background in data privacy and information security law. Patrick received his law degree at George Mason University's Antonin Scalia Law School, where he served as the Editor-in-Chief for the National Security Law Journal.

Summary: Negotiate with Crown Asset Management by verifying your debt, proving financial hardship, offering a realistic settlement (10-75%), and staying honest. Use SoloSettle to negotiate online with any phone calls or court hearings.

Crown Asset Management (CAM) is a professional debt collection agency. Finding out that you’ve been sued can leave you feeling anxious, stressed, and overwhelmed with uncertainty about your financial future. Solo understands how you feel and is here to help.

It is important to know that you have legal rights when contacted by debt collectors like Crown Asset Management, and there are certain affirmative defenses you can raise that may help you win a lawsuit brought by Crown Asset Management. Further, Solo provides you with resources such as SoloSettle that can help you reach a settlement that’s fair to both you and Crown Asset Management.

In this article, we will break down everything you need to know about Crown Asset Management and how to respond when they bring a lawsuit against you.

Settle debt with Crown Asset Management

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What is Crown Asset Management, and how does it work?

Crown Asset Management is a debt collection agency that specializes in buying old debts. This means that Crown Asset Managements purchases charged-off debts from other companies at a substantial discount. They then file collection lawsuits and use trained debt collectors in hopes of getting those delinquent debts repaid.

The business model of Crown Asset Management collections is simple. They primarily purchase delinquent debts for pennies on the dollar, and if they can collect the debt, they make money. Filing lawsuits against consumers is a strategic move to collect on the outstanding debt, which could generate a large profit.

Crown Asset Management debt collectors will file a lawsuit and rely primarily on “business record affidavits” to prove they have a valid collection case against you. If you are served with a collection lawsuit that is accompanied by such an affidavit, do not give up hope.

SoloSuit helps you make the right defense the right way.

Negotiate with Crown Asset Management

Ready to contact Crown Asset Management to negotiate the debt and settle for less? Here are some debt negotiation tips from an attorney:

  • Only mention bankruptcy if it's a real option; empty threats don’t work.
  • Explain your financial struggles clearly to creditors or their attorneys.
  • Share evidence of your limited ability to pay, like relying on Social Security, having multiple debts, or wage garnishments.
  • Offer a realistic settlement amount—they’ll likely counter.
  • Junk debt buyers often settle for 10-35%, while original creditors may accept 50-75%.
  • If you suggest a payment plan, make sure it fits your budget.
  • Be honest about your finances—creditors likely know a lot about your situation already.

To learn more about how to negotiate with debt collectors like Crown Asset Management, watch the following video where a lawyer spills his secrets about how negotiate to settle debt:

Is Crown Asset Management legit?

Crown Asset Management is legit. It has been accredited by the Better Business Bureau since 2004, and it maintains an A+ rating. They purchase consumer portfolios from credit cards, consumer loans, auto loans, and multiple other lenders.

CAM seeks to follow all state and federal regulations, such as the Fair Debt Collection Practices Act (FDCPA), for fair and equitable treatment of consumers. CAM works with outsourced collection agencies and law firms and invites consumer feedback on how these outsourced agencies treat them.

It is critical that you know your rights under the FDCPA so that you can take the appropriate steps if CAM, an outsourced agency acting on its behalf, or any other debt collector oversteps the boundaries established by the law for the protection of consumers.

Knowing your rights under the FDCPA will protect you

The Fair Debt Collection Practices Act (FDCPA) is a federal law that protects consumers like you from unfair debt collection practices. Knowing your rights under the FDCPA will make you better equipped to fight back against a Crown Asset Management lawsuit. According to the FDCPA, debt collectors cannot do any of the following:

  • Contact you after 9 p.m. or before 8 a.m.
  • Attempt to collect a debt that does not belong to you
  • Threaten legal action and arrest
  • Call after you request them to stop
  • Lie and pretend to be lawyers
  • Contact your family, friends, or coworkers about your debt

If you encounter harassment or abuse from any debt collector, use the report the abuse on the FTC online platform: call 877-382-4357, submit a complaint on the CFPB website, or call 855-411-2372.

Respond to Crown Asset Management LLC lawsuit.

Now that you understand your rights as a consumer, you’re in a good position to respond if you’re served with a collection lawsuit from Crown Asset Management.

First and foremost, do not ignore the lawsuit. Ignoring a lawsuit means you will lose by default. Many people who get sued by Crown Asset Management let anxiety and fear paralyze them to the point that they do not take action and are left hoping that the lawsuit just goes away. Many debt collection agencies hope this is how you will respond, as it allows them to win a lawsuit, and the judge will issue a Default Judgment.

With a default judgment, Crown Asset Management can garnish your wages, put liens on your property, and even freeze your bank account.

At Solo, we understand the temptation to ignore calls and correspondence from debt collectors. If you’re facing financial challenges, the stress and struggle of keeping your head above water may leave you feeling incapable of dealing with debt collection companies. Let Solo help ease that burden with our tools designed to guide you in working out solutions with debt collectors that will allow you to regain control of your financial future.

The first step to beating Crown Asset Management in court is to respond to the lawsuit with a written Answer. Here's how.

SoloSuit can help you respond to Crown Asset Management debt collectors fast.

Follow these steps to Answer a debt collection lawsuit against Crown Asset Management LLC.

When Crown Asset Management sues you for a debt, you should receive a court Summons and Complaint. These are the legal documents that initiate a lawsuit. The Summons is the official notice that you are being sued, while the Complaint lists all the specific claims against you.

You have up to 35 days to respond to a debt collection lawsuit, depending on which state you are in. Follow these six tips to draft an Answer to your debt collection lawsuit against Crown Asset Management:

  1. You don't need to give a detailed answer: The Answer is a brief document. It isn't the place to tell your life story or give your entire defense. Be as straight to the point as you can be.
  2. Never admit debt liability: The complaints document comes with numbered paragraphs. Respond to every paragraph. You have three options: deny, admit, or deny for lack of knowledge. As a rule of thumb, lawyers advise you to deny, deny, deny. Let the plaintiff prove your responsibility for the debt.
  3. Include your affirmative defenses: These are reasons why you think the plaintiff is wrong to sue you. Assert your affirmative defenses for each paragraph. You don't make these up; there are options. For example, you don't owe the debt, you already paid part of it, the statute of limitations has expired, or you need the plaintiff to provide proof.
  4. Use standard formatting or "style: Court documents need to be formatted in a certain way. For instance, an Aanswer will include the defendant's (your) name, physical and email address, name of the court, the identity of the plaintiff, case title, and case serial number. The spacing and page format should also follow an acceptable style for the answer to be considered professional. If you're having trouble, you can use SoloSuit's template.
  5. Include the certificate of service: A brief document containing the name of the court, the name of the plaintiff, and the date you're sending it. If the plaintiff has an attorney, you should serve the attorney and not the company.
  6. Make sure you sign the document: The document is null and void if you don't sign it. A signature means that you accept the document as true or you have reason to believe that everything you filled in is accurate. You may print and sign manually or sign it electronically before you mail the letter.

After you've drafted your Answer with the help of these six tips, remember to file it with the court and send a copy to the attorneys representing Crown Asset Management. You can file your Answer in court via mail, in person, or through electronic filing in some states. You should send a copy of the Answer to the opposing attorney via USPS-certified mail with a return receipt requested.

SoloSuit can help you draft and file your Answer in 15 minutes.

Filing an Answer protects your position in the lawsuit, but it’s not the end of the journey. As a party to the lawsuit, you have a responsibility to show up for all scheduled hearings and the trial if it proceeds that far. Ideally, after you file an Answer, you can reach a settlement agreement with CAM, and the matter will be officially closed.

Now, let's consider an example.

Example: Janet, who lives in California, is getting sued by Crown Asset Management for an old credit card debt of $800. After doing some research online, she found out that Crown Asset Management purchased the debt from the original credit card company for $10, and now the collectors are trying to get her to pay off the full amount. She uses SoloSuit to draft and file an Answer document where she denies all of Crown Asset Management's claims and asserts her affirmative defenses. After a few weeks, she finds out that Crown Asset Management cannot prove all their claims because they didn't receive the correct documents from the original creditor when the debt was transferred. Crown Asset Management decides to dismiss the case.

Learn more about these six tips in this video:

Use SoloSettle to settle your debt with Crown Asset Management

You can also use SoloSettle to settle the debt for less than what you originally owed. You can start this process after Crown Asset Management validates the debt or even after they’ve initiated a lawsuit. SoloSettle is a web app that can help you draft a settlement offer and respond to counteroffers. When both parties have agreed on a settlement amount, you can pay securely using SoloSettle.

Suing consumers in court is a time-consuming and expensive endeavor for debt collectors. A tool like SoloSettle allows consumers and debt collectors to work together to reach a satisfactory resolution for both parties.

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How to Answer a Summons for debt collection in all 50 states

Here's a list of guides on how to respond to a debt collection lawsuit in each state:

The Ultimate 50 State Guide

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Below are some resources on how to use an arbitration clause to your advantage and win a debt lawsuit.

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The Debt Hotline

Hosted by Team Solo, The Debt Hotline breaks down debt and personal finance topics with help from attorneys, financial experts, and industry pros. We respond to real questions to help you navigate debt with knowledge and courage.

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