Cavalry SPV I LLC is an affiliate of Cavalry Portfolio Services, a company established in 2002 with the sole purpose of buying up high risk debt. It is also one of the most ubiquitous debt buyers in the U.S., and isn’t shy about going after as many accounts as possible. Every year, Cavalry SPV I LLC sues many people, often with little regard for every individual account, so the company frequently makes mistakes in pursuing the wrong people or in pursuing debt that has passed out of the statute of limitations. And in many cases, it’s not a mistake, but a strategy on this debt collection company’s part. As such, anyone who is sued by Cavalry should be ready to fight back.
Who is Cavalry SPV I LLC?
Cavalry Portfolio Services, again, was founded in 2002 and is headquartered in Valhalla, New York. The name Cavalry SPV I LLC is what most see when they are sued by Cavalry, and represents the company’s debt collection wing. It is much like any other debt scavenger, in that its only function is to identify and purchase debt from banks and other lenders. The collector hopes that it can squeeze payment from a small portion of the accounts it buys. It only needs to recoup a tiny portion of those accounts to make the effort worthwhile.
On its website, Cavalry makes a lot of claims about its desire to work with account holders fairly and transparently. Honesty, integrity, responsibility – these terms are sprinkled throughout Cavalry’s site, but some consumer review sites have reported harassment, debt collection beyond statute of limitations, and even wage garnishment without warning. These things are not surprising coming from debt scavengers, and no debt buyer should be considered an ally. Their only goal is to get people to pay.
What can I do if I am being sued by Cavalry SPV I LLC?
When dealing with a debt scavenger, defendants usually have more options than they would if they were taking on a reputable bank or credit card company. But before any of those defenses can be deployed, the defendant must first answer the suit. This is a critical step in the process, and neglecting to do so means Cavalry will likely win a default judgment. With this, the debt collection agency can ratchet up the pressure with little stopping them, even moving onto wage garnishment. Unfortunately, the overwhelming majority of people do not answer the suit, instead hoping it just goes away. It won’t, and debt scavengers leverage this to win claims they wouldn’t have otherwise.
The defendant only has a short window to provide this answer, but once they do, they have time to prepare a proper defense. A debt defense attorney can help their clients with this and attack any pressure points in the collector’s suit. For example:
- Demand to see account information – The debt scavenger business model necessitates the mass purchasing of accounts, and it’s often the case that those accounts are only bundled with scant information. However, to execute a successful lawsuit against an account holder, comprehensive information about the account’s history is required. If Cavalry cannot produce this information, the suit may be thrown out entirely. This is a common vector of attack when handling debt scavengers, as they know that only a tiny portion of people will fight back. This is also why debt scavengers typically neglect to honor debt verification requests from account holders, instead holding out until they can secure a default judgment.
- Make sure statute of limitations applies – Just like Cavalry is willing to posture even when they don’t have the information on the account, they will posture even when the account holder can no longer be sued. The account holder can only be sued if the debt is within the statute of limitations, which typically lasts between three and six years. Outside of this timeline, the debt is off limits for legal action. However, it’s not always easy to determine when the statute ends, as it can be reset by making a payment on the debt. It is something that should always be checked, though, because there’s nothing stopping debt scavengers from suing someone for old debt.
- Know when to settle, and how – Sometimes, Cavalry has the information it needs and is legally able to sue for the debt. When that’s the case, it doesn’t make sense for the defendant to draw things out and accrue more fees as a result. A lot of debt cases eventually end up in the settlement phase, especially if it’s early on, as the collector stands to lose money on legal fees as well.In addition to piecing together their client’s defense, this is an area that a debt defense attorney can help with. Without an attorney, Cavalry will feel empowered to push the defendant around, and can usually get away with it. A debt defense attorney can get their client into a more favorable position during settlement negotiations by raising doubts in the collector’s case. A skilled debt defense attorney can often reduce the total debt by 50 percent or more, depending on how much is owed.
The best way to counter an aggressive debt scavenger is to get aggressive right back. Debt buyers like Calvary SPV I LLC can be rebuffed with a strong defense, and a debt defense attorney can provide one.
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