Who is Cavalry Portfolio Services?
Cavalry Portfolio Services, LLC is a debt collection agency based in Valhalla, New York, with additional offices in Phoenix, Arizona; Tulsa, Oklahoma; and St. Paul, Minnesota.
Cavalry Portfolio specializes in purchasing and managing portfolios of non-performing consumer loans such as credit card debt and personal loans. They are one of the largest buyers of distressed debt in the United States. They might appear on your credit report under the name “Cavalry SPV I LLC“.
Who does Cavalry Portfolio Services collect for?
Cavalry Portfolio Services collects debt on behalf of a broad range of entities. Their primary business model involves purchasing distressed debt portfolios for a fraction of the original amount owed. These debts could originate from various sources, such as major credit card companies like Bank of America, Chase, and Citibank.
Their services also extend to collecting for other types of lenders and service providers, including payday loan companies, car title loan companies, auto finance companies, utility companies, telecommunication companies, and student loan debt.
Is Cavalry Portfolio Services legit or a scam?
Despite any negative experiences some consumers may have reported, Cavalry Portfolio Services is a legitimate debt collection company. However, like many debt collection agencies, they have been known to utilize persistent strategies, including frequent calls, texts, or emails to collect the unpaid debt.
How can I remove Cavalry Portfolio Services from my credit report?
Collection accounts can impact your credit score for up to seven years, so it’s essential to address them promptly. To remove collections from your report, start by disputing any errors related to the account with the credit bureaus.
If the information is accurate, consider negotiating a “pay-for-delete” agreement, where you offer payment in exchange for the account’s removal. Another option is to work with a credit repair service that specializes in challenging collections.
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Cavalry Portfolio Services, LLC Contact Information
Address:
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?
Before contacting a debt collector, verify that the debt is legitimate and accurately reported. Credit reports can contain errors or list debts that are no longer valid. Also, be aware that making payments on a debt can reset the clock and potentially harm your credit.
The most effective way to deal with Cavalry Portfolio Services is to work with a credit repair professional. They help remove millions of negative items every year from companies like Cavalry Portfolio Services on behalf of their clients.
Will Cavalry Portfolio Services sue me or garnish my wages?
Cavalry Portfolio Services, like any third-party collection agency, is entitled to sue you to collect the debt you owe, particularly if you’ve been unresponsive to their collection efforts. If they win a judgment against you in court, they might be able to garnish your wages or even levy your bank account, depending on the laws in your state.
However, it’s important to note that taking such legal action and wage garnishment are often a last resort for collection agencies, as it can be expensive and time-consuming. Before it reaches this point, you’ll usually have several opportunities to negotiate a payment plan or settle the debt for a lesser amount.
Cavalry Portfolio Services, LLC Complaints
Many collection agencies have numerous complaints filed 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). These rights include the ability to dispute credit reporting errors with the credit bureaus and to be treated fairly and respectfully by debt collectors.
Your Rights When Dealing with Cavalry Portfolio Services
Debt collection companies must abide by state and federal laws. The FDCPA prohibits abusive, unfair, or deceptive practices and ensures your rights are protected:
- It is a violation of federal law for Cavalry Portfolio Services to report inaccurate or incomplete information about you to the credit reporting agencies.
- 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 cannot threaten or harass you, call repeatedly, swear at you, or publicly publish a list of debtors.
- Cavalry Portfolio Services must be honest about who they are and their purpose. They must notify you in writing and verbally that they are a debt collection agency.
- Cavalry Portfolio Services cannot threaten to have you arrested or imprisoned for unpaid debts.
Remove Cavalry Portfolio Services From Your Credit Report Today!
Credit Saint offers assistance with disputing Cavalry Portfolio Services collection accounts. With over 15 years of experience, they have worked with clients to address incorrect entries on credit reports.
If managing collection accounts feels overwhelming, working with a trusted credit repair company could be a helpful step toward improving your credit.
Visit their website or call (855) 281-1510 for more details.
