Sued by Troy Capital? How to Settle Your Debt

George Simons | January 24, 2025

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: Troy Capital, LLC is a debt buyer and collector who may file a lawsuit to satisfy an old debt. If you get sued for debt, file a written Answer to block a default judgment, which will give you the time you need to negotiate and settle for less. Use Solo to respond, negotiate, and protect your rights.

Debt collectors are employed to collect debts owed to creditors, but they are also required to follow laws that regulate those collections. In the event you are being sued, you should know how to handle the situation and what rights you have under the law. Different laws pertain to original creditors versus third-party companies.

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Who is Troy Capital?

Troy Capital LLC buys old debts. If you have seen Troy Capital LLC on your credit report or have been served with a lawsuit under this name, you need to understand who you are dealing with.

Handling thousands of collections lawsuits each year, Troy Capital LLC does not do it all on its own. They hire collection attorneys to file the lawsuits and finish the case. In many cases, they also use a “business record affidavit” as a witness. This helps to prove their case against you.

If you want to settle an unpaid debt with Troy Capital without going to court, give them a call at the Troy Capital phone number, or use the following contact information:

Ready Troy Capital reviews online

The Better Business Bureau does not accredit Troy Capital, LLC, and they have a “B” rating. Consumers can read reviews here.

Who does Troy Capital, LLC collect for?

Troy Capital, LLC purchases debts charged off by the original creditors. These creditors may include:

  • Credit cards
  • Auto Financing
  • Mortgage lenders
  • Santander

Troy Capital, LLC is a large purchaser of consumer debt. You may not recognize them as someone you owe money to, but it’s likely they’ve purchased the debt from another lender.

Respond to a debt collection lawsuit in 15 minutes with SoloSuit.

How Troy Capital gets your information

If you receive a call or correspondence from a company you’ve never interacted with regarding your debt, you might assume it’s a scam or question whether the debt is actually yours. However, it’s possible that this company has been hired to reach out to you about your outstanding debt, or they may have purchased the debt from the original creditor.

There are various places where Troy Capital or a contractor could have obtained your information. It might be from an original creditor or even your credit report. They might be able to obtain your information from a simple internet search.

If Troy Capital obtained your information from your original creditor, then they will have a variety of personal details about you. This might include your address, how much you owe, and the name of the original creditor. Legally, you can ask for all of this information and ask them how they obtained it.

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How to handle debt collectors

Respond to debt collectors quickly. It’s tempting to want to bury your head in the sand when facing a debt collector. However, avoiding a debt collector will only compound the problem and limit your possible solutions.

Debt collectors like Troy Capital or anyone they contract will contact you until your debt is paid. The longer you avoid paying the debt, the more damage it does to your credit score. Additionally, if you do not respond, the debt collector may file a lawsuit. If you fail to respond to the lawsuit, it may result in a default judgment against you. With a default judgment, you could face wage garnishment or asset seizure.

Ask Troy Capital, LLC, for more information about the debt. Be sure to get as much information as possible before you make any kind of settlement deal.

For example, you should find out the following:

  • Who is the original creditor?
  • The original amount of the debt.
  • How much is owed?

You should ask for as many details as possible. You should especially look into whether or not the statute of limitations has expired. This is important because, in this case, the debt is time-barred, and the debt collector can no longer sue you for the debt.

Ask for proof of the debt. Send a debt validation letter, which should provide all the proof the debt collector has about the debt.

How to respond if Troy Capital, LLC files a lawsuit against you

If Troy Capital LLC files a lawsuit against you, it’s important to handle the situation carefully. Take the following three steps.

  1. Review the lawsuit carefully to understand the claims against you and any deadlines for your response.
  2. File an Answer document within the timeframe specified by the court. Solo’s web-based app can make it easy to draft and file the Answer.
  3. Negotiate for a settlement. Troy Capital LLC wants to work out solutions with consumers, so take a hard look at your finances and decide what you can offer to settle the debt.

SoloSettle makes it easy to prepare a settlement offer, manage correspondence between you and Troy Capital, and offer a safe way to pay the creditor when you’ve reached an agreed-upon settlement amount.

Remember, even though you’ve filed an Answer and you’re working with Troy Capital LLC to settle the debt, an active lawsuit is still your responsibility. Keep track of hearing dates and make sure you follow-up until Troy Capital LLC officially drops the lawsuit.

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How to settle a debt with Troy Capital

Settling a debt is often the best way to avoid ending up embroiled in a lawsuit. Even if Troy Capital has already filed a lawsuit against you, you can still initiate settlement negotiations. Just take the following steps:

  1. Assess your finances. Take the time to realistically assess your finances to determine how much you can afford to offer to settle the debt.
  2. Reach out to Troy Capital to make your debt settlement offer. Ideally, keep it in writing and outline the hardships you are facing and why debt settlement would benefit you and the debt collector. Make sure you include the amount you can offer, but consider offering less than the maximum. That way, should they counteroffer, you still have room to negotiate.
  3. Get a settlement agreement. Once you’ve reached an agreement with Troy Capital, request a signed copy of the settlement agreement and keep this for your records.
  4. Make the payment on time.

SoloSettle can make the debt settlement process easy, keep your correspondence in a centralized location, and provide a safe way to initiate payment to Troy Capital while protecting sensitive financial information.

You have rights when dealing with Troy Capital.

Debt collectors have a job to do, but they must do so under the Fair Debt Collection Practices Act governing their profession. The following rules must be respected:

  • Specific hours of contact: Debt collectors may only call between the hours of 8 am to 9 pm.
  • No calls at work: Debt collectors may not call you at work if they know such calls are not allowed.
  • You can request a callback number: If a legitimate company is coming after you for debt, then they are required to explain who they are. This includes company information, as well as a number to call back.
  • No harassment or lying: Debt collectors may not force you to pay more than you originally owed, and cannot threaten you with any jail time, or wage garnishment if this is not legitimate.

Should any of these rules be violated, you should report it to the Federal Trade Commission and the Consumer Financial Protection Bureau.

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