Who is Cavalry Portfolio Services?
Cavalry Portfolio Services, LLC is a debt collection agency and debt buyer located in Valhalla, New York. They also have locations in Phoenix, Arizona; Tulsa, Oklahoma; and St. Paul, Minnesota.
Cavalry Portfolio Services may show up on your credit report as “Cavalry SPV I LLC“. They are one of the largest buyers of distressed debt in the United States.
Who does Cavalry Portfolio Services collect for?
Cavalry Portfolio Services buys debt collection portfolios for pennies on the dollar. They purchase debt from credit card companies like Bank of America, Chase, and Citibank. They also collect for payday loan companies, car title loan companies, auto finance companies, utility companies, and telecommunication companies.
Is Cavalry Portfolio Services legit or a scam?
Cavalry Portfolio Services is a legitimate company. They were most likely assigned your debt (or bought your debt) from one of the companies they work with. However, just because they are legit, doesn’t mean you actually owe them anything. Keep reading to learn more.
How can I remove Cavalry Portfolio Services from my credit report?
Cavalry Portfolio Services collections can hurt your credit score and remain on your credit report for up to seven years regardless of whether you pay it or not. Unfortunately, paying the collection could even lower your credit score.
However, it is possible to remove a collection account from your credit history before seven years.
(Debt collectors prefer that we didn’t tell you this, but it’s something you should know.)
Lexington Law Firm is a credit repair company that helps people fix their credit.
In addition to collections, Lexington Law will help you challenge (and possibly remove) other inaccurate information from your credit report. These items include inquiries, late payments, charge-offs, foreclosures, repossessions, bankruptcies, and more.
Call Lexington Law now to learn more: (800) 220-0084
Cavalry Portfolio Services, LLC Contact Information
Cavalry Portfolio Services, LLC
500 Summit Lake Drive, Suite 400
Valhalla, NY 10595
Phone number: (866) 483-5139
Should I contact or pay Cavalry Portfolio Services?
Nothing good can come from speaking to a collection agency on the phone. And making payments on the debt will reset the clock. So instead of helping your credit, it could make it worse. Of course, there are times when it’s best to just pay the collection account, especially if it’s new, and you’re certain that it’s legit.
The best way to handle this is to work with a credit repair professional. They delete millions of negative items every year from companies like Cavalry Portfolio Services for millions of clients nationwide.
And they may be able to help you too.
Will Cavalry Portfolio Services sue me or garnish my wages?
It’s possible, but if you work with a law firm like Lexington Law, you have nothing to worry about. They will help you dispute the collection account with the credit bureaus and possibly remove it from your credit report. It’s also quite possible that you may never hear from or have to deal with Cavalry Portfolio Services again.
Call Lexington Law to learn how they can help you avoid lawsuits and remove negative items from your credit report that will significantly improve your credit scores.
Some states allow wage garnishment, while others do not. It is important to note that if you are in a state that does not allow wage garnishment, it is illegal for them to threaten to garnish your wages or levy your bank account.
It is also illegal for Scott & Associates to make any claims they cannot or will not follow through on—this includes threatening to sue you or foreclose on your home.
Is Cavalry Portfolio Services hurting my credit score?
The missed payments that led to the collection harm your credit score. A collection account on your credit report further reduces your ability to qualify for new credit.
Debt collectors often buy and sell debt from one another, which can lead to multiple collections on your credit reports for the same account.
When this happens, if you don’t dispute the accounts with the credit bureaus and get them all removed, they will harm your credit score.
Cavalry Portfolio Services, LLC Complaints
Most debt collection agencies have numerous complaints filed against them with the Consumer Financial Protection Bureau (CFPB) and the Better Business Bureau (BBB). Most consumer complaints are about inaccurate reporting, harassment, or failure to verify a debt. If you find yourself facing any of these situations with Cavalry Portfolio Services, you should also consider filing a complaint.
You have many consumer rights under the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA). Lexington Law Firm knows that you have rights, and Cavalry Portfolio Services does too.
Have you been contacted by Cavalry Portfolio Services claiming that you owe them money?
Once a collection agency owns your debt, they report it to the credit reporting agencies. You may receive repeated phone calls and they’ll also likely send you aggressive collections letters. They may even threaten to sue you, which can lead to serious legal proceedings.
Your Rights When Dealing with Cavalry Portfolio Services
There are strict regulations about what a debt collector can and cannot do in the United States. For example, the Fair Debt Collection Practices Act prevents the use of abusive or deceptive tactics to collect a debt. In addition, the FDCPA provides you with many rights to ensure that collection agencies don’t take advantage of you. In particular:
- It is a violation of federal law for Cavalry Portfolio Services to report inaccurate or incomplete information on your credit report.
- You have a legal right to request debt validation on an alleged debt. Send Cavalry Portfolio Services a debt validation letter. By law, they have 30 days to prove to you that the outstanding debt is really yours and the total amount is accurate.
- Cavalry Portfolio Services may not threaten or harass you, call you repeatedly, swear at you, or publicly publish a list of debtors.
- Cavalry Portfolio Services must be honest about who they are and what they are attempting to do. They must notify you that they are a debt collection agency both orally and in writing.
- Cavalry Portfolio Services cannot threaten to have you arrested, and they are not allowed to threaten to take legal action if they have no intention of doing so.
Avoid the phone. Never talk to a debt collector on the phone. The less they know about you, the better.
Politely tell Cavalry Portfolio Services it’s your policy to deal with everything in writing. Request a letter with the original debt information and then hang up. If they keep calling, send them a cease & desist letter.
Record their phone calls. If you must deal with a debt collection agency on the phone, record them. Thirty-five states and the District of Columbia allow you to record your phone conversations secretly.
In the other 15 states, you can record with the other party’s permission. If you tell the debt collector you are going to record, and they keep talking, that’s considered giving permission. They will usually hang up.
Don’t believe what they say. Debt collection agencies are known to make false threats, lie, and tell you whatever they need to tell you to get you to pay the debt.
Don’t attempt to hide money. Hiding money or assets from a legitimate debt collection company is illegal if you owe them. However, it’s also best to avoid giving access to your bank account or credit card information.
Don’t apply for new lines of credit. It’s also considered fraudulent to apply for new lines of credit if you are unable to pay your current creditors.
Don’t ignore them. You can do things on your terms, but ignoring the situation will not make Cavalry Portfolio Services go away. Ignoring them sets you up for a possible lawsuit.
Know Your State’s Statute of Limitations. Each state has a statute of limitations on debt. Once your debt reaches a certain age, it is considered “zombie debt,” and you are no longer legally obligated to pay it. The age limit varies from state to state, but it’s typically around 4-6 years.
A collection agency is still allowed to contact you about these debts, but they can no longer sue you for them, and you are not required to pay them.
How to Deal with Cavalry Portfolio Services
There are several ways to deal with Cavalry. If you have a reason to believe that the debt is expired and you are being contacted about an old account, send them an Expired SOL Notification letter.
This lets them know that they are dealing with an informed consumer and that threatening to sue you for the money owed won’t work. It may help ease them off your back for a while.
If the debt has not expired and you believe that you do indeed owe Cavalry money, you should first ask for debt validation. You can do so by sending them a debt validation letter. In the event they refuse to validate the debt, you have to seek legal recourse through the State Attorney General.
If you have sent a debt validation letter and Cavalry Portfolio Services continues to contact you about the debt before they respond to the verification request, it is a clear sign they are violating the law.
Cavalry Portfolio Services likely isn’t going to listen unless you bring government authorities into the mix. In addition to your state’s attorney general, you can also report them to the FTC.
Remove Cavalry Portfolio Services From Your Credit Report Today!
Lexington Law Firm specializes in disputing Cavalry Portfolio Services collection accounts. They have over 18 years of experience and have removed over 7 million negative items for their clients in 2020 alone.
If you’re looking for a reputable credit repair company to help you with collection accounts and repair your credit, consider working with Lexington Law.
You can give them a call at (800) 220-0084 for a free credit consultation. They have helped many people in your situation and have paralegals standing by waiting to take your call.
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