Cavalry Portfolio Services lawsuits can be intimidating and financially devastating. In our experience, most people have never heard of Cavalry Portfolio Services. They only learn of their existence after Cavalry Portfolio Services serves them with a lawsuit or sends them a collection letter. If Cavalry Portfolio Services has contacted you about a debt they claim you owe, it’s a good idea to know who you’re dealing with.
What is Cavalry Portfolio Services?
Cavalry Portfolio Services is a collection agency that purchases old debt from companies and collects on it. Because the debt is old, they can buy it for extremely cheap rates. They then start collection calls to get the money as fast as possible, intending to collect the full amount of the debt plus interest and penalties.
If Cavalry Portfolio Services has served you with a lawsuit, you already know that they use aggressive debt collection tactics, including multiple daily calls, harassment, and threats. It’s important to remember that under the Fair Debt Collection Practices Act, debt collection companies such as Cavalry Portfolio Services cannot do the following while trying to collect a debt:
- Contact anyone who doesn’t own the debt
- Call before 8 a.m. or after 9 p.m. unless you have given them permission to do so
- Cause your phone to ring for extended periods of time or make repeated phone calls
- Contact you at work if you have asked them not to
- Make false statements to collect the debt or misrepresent the amount you owe
- Make threats of harming your credit or wage garnishment
- Send collection letters that appear to be from a court or government office
- Threaten to arrest you if you do not pay the debt
- Threaten to take legal action against you they don’t intend to take
- Use obscene or profane language
Cavalry Portfolio Services is NOTORIOUS for deceptive tactics. Did you know that the Consumer Financial Protection Bureau (CFPB) has received numerous complaints about Cavalry Portfolio Services? Some of the topics of the complaints to the CFPB included:
- Attempts to collect a debt not owed
- Communication tactics
- Filed incorrect information on the consumer’s credit report
- False statements or representation
- Threatened to take negative or legal action
- Written notification about a debt
If you were sued for a debt, it’s natural to investigate your options, especially if you’re headed to Cook County Court against Cavalry Portfolio Services. Have you already received a lawsuit and court summons? Timing is of the essence, and it is critical to hire an experienced consumer law attorney to help guide you through the process.
Why Is My Debt Being Sold?
When you open a credit card, take out a loan, line of credit, or even generate a balance somewhere like a doctor’s office or hospital, that company will usually attempt to collect the debt from you in the short term. However, many of these companies have limited collection departments and sell the debts to debt buyers and collection agencies. These collection agencies are much more aggressive in their efforts to get you to pay the debt because their only purpose is to collect the debts they bought for pennies on the dollar.
Debt collection agencies purchase these debts for pennies on the dollar and then begin a campaign to get you to pay it. Their tactics can include letters, phone calls, and even behavior that’s illegal and harassing. For example, many consumers don’t realize that a debt collection agency will sometimes sue someone for a debt after the statute of limitations, the time they’re allowed to sue for a debt, has expired. Since the agency stands to make enormous profits if they can even get you, or force you through a lawsuit, to pay, their methods are ruthless.
Debt Collectors often use threats and claims of legal action to coerce a consumer to pay up or settle the debt, relying on the fact that most consumers might not be aware of their rights and will either ignore the collector or pay the debt just to get the collection efforts to stop.
Debtors have rights, and they can take legal action against debt collection agencies who cross the line, such as those telling you they are with the police department, calling you at work after you’ve asked them to stop, or lying about the amount of money you owe or its current status regarding the statute of limitations.
Don’t Deal with Cavalry Portfolio Services Alone
Cavalry Portfolio Services may contact you multiple times to encourage you to settle with them directly. However, this is not always in your best interest. Their representatives might try to convince you that this is your only avenue for resolution, but you deserve to know your rights and have a lawyer advise you about your options.
Hiring an attorney in Chicago, Illinois, to fight back can provide the legal support and experience you need to take on this powerful debt collection agency and increase your chances of winning a lawsuit. We fight hard to get cases dismissed with debt collectors like Cavalry. Our skilled and dedicated attorneys can assist you in saving a substantial amount of money, compared to the original statement balance that Cavalry Portfolio Services is demanding.
In fact, at the time of this writing, none of our clients have ever paid Cavalry a penny from a lawsuit when they hired us early enough. While we can’t guarantee victory in your case, our track record speaks volumes.
Contact Chicago Consumer Law Center, P.C.
Our law firm has a track record of protecting consumer rights and explaining your options when a company like Cavalry Portfolio Services takes you to court before they get a default judgment against you. Although the earlier you contact us, the better, no matter where you are in the process, you deserve to know your rights and what to expect. Give us a call at (312) 858-3240 or complete the form on our website to schedule your free strategy session.
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The information in this blog post (“post”) is provided for general informational purposes only and may not reflect the current law in your jurisdiction. No information contained in this post should be construed as legal advice from the individual author or the law firm, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting based on any information included in or accessible through this post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country or other appropriate licensing jurisdiction.