If you’ve been contacted by Cavalry Portfolio Services about a debt they claim you owe, it’s a good idea to know who you’re dealing with. What’s more, it’s crucial to understand your rights in the debt collection process and how to avoid getting taken advantage of or exploited by deceptive tactics.
Who Is Cavalry Portfolio Services
Cavalry Portfolio Services is a debt collection agency. The company’s clients are usually big banks like Chase and Bank of America. According to Cavalry, they are leaders in the acquisition of non-performing consumer loan portfolios.
In other words, the agency purchases and collects on credit card debt, payday loans, auto finance debt, utility companies, and telecommunication debt. The kicker is that Cavalry and other debt collection agencies purchase these debts from creditors for far less than the original amount, but they’ll try to collect on the full balance.
If Cavalry believes that you owe a debt, they’ve likely already reported the account to the three national credit reporting agencies, which can hurt your credit score.
Cavalry’s contact information is as follows:
Cavalry Portfolio Services
500 Summit Lake Drive, Suite 400
Valhalla, NY 10595
P: (866) 483-5139
In general, though, we don’t recommend contacting debt collection agencies directly since they often record calls and can be tricky to handle.
Cavalry Portfolio Services was slapped with a class-action lawsuit for violating the Telephone Consumer Protection Act (TCPA) — the settlement, worth more than $24 million, was granted final approval on Oct. 13, 2020. The lawsuit claimed that Cavalry contacted consumers without their consent, which is expressly prohibited by the TCPA.
Other proposed class-action lawsuits have alleged that the company misrepresented and contradicted consumers’ right to dispute an alleged debt, omitted material information from a debt collection letter, stipulated a false deadline for a consumer to accept a settlement offer, and tried to collect a debt without the license to do so in that state.
The Consumer Financial Protection Bureau (CFPB) received 36 complaints about Cavalry Portfolio Services. The company gave a timely response on all complaints, and 24 were closed with an explanation, while 12 were closed with some form of non-monetary relief.
Some of the topics of the complaints to the CFPB included:
- Attempts to collect a debt not owed
- Written notification about a debt
- The company took or threatened to take negative or legal action
- The company filed incorrect information on the consumer’s credit report
- Communication tactics
- False statements or representation
What to Do if You’ve Been Contacted by Cavalry Portfolio Services
Cavalry Portfolio Services sends debt collection letters and makes debt collection calls for the purpose of trying to recover unpaid debts owed to their clients.
For starters, it’s important Cavalry to verify your debt. Sometimes the information a creditor has about you and the debt owed is not always accurate. The Fair Debt Collection Practices Act (FDCPA) protects consumers against creditor violations, however, violations still happen.
Next, work with a debt resolution law firm to receive personalized advice about your next course of action. The Tayne Law Group experience will give you peace of mind that your debts are being taken care of in the best possible way.
We fight hard to get cases resolved with debt collectors at Cavalry. Our skilled and dedicated settlement team is often able to save a substantial amount of money, compared to the original statement balance that a client brings to us at the initial meeting with our staff.
Working with a debt resolution law firm with the kind of experience that we have in the debt resolution and collection industry assures you that your debts are being handled in the best possible way. Call 1-866-890-7337 today for a free, no-obligation debt help consultation and see what a difference a phone call can make.