Cavalry Portfolio Services or Cavalry SPV is a debt collection agency, which receives a lot of consumer complaints to our law firm for debt harassment. Find out who they are, why they might be calling, and how you can stop them.
What is Cavalry Portfolio Services?
Cavalry Portfolio Services or Cavalry SPV is a third-party debt collection agency based in New York. Cavalry has received consumer complaints alleging violations of the Fair Debt Collection Practices Act (FDCPA), such as attempting to collect debts not owed and sharing information about debts with unauthorized third parties. If Cavalry has contacted you about delinquent collection items, make sure you understand your rights before you take action.
In March 2016, Cavalry reached a settlement with the state of West Virginia over allegations of phone abuse and harassment, in addition to failing to gain suitable licensing to operate in the nation. The debt collection agency was expected to cease collection efforts on $19.7 million in debt and forever cease contact with close to 3,000 clients.
In 2015, this agency was fined $175,000 from the Arizona Department of Financial Institutions for many different offenses, including refusing to supply consumers with evidence of debt.
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Is Cavalry Portfolio Services a scam?
They’re legit. According to the Better Business Bureau (BBB), Cavalry Portfolio Services, LLC was founded in May 2002 and incorporated in September 2002. The BBB established a profile page for Cavalry in 2003. The BBB lists Cavalry Portfolio Services as a collection agency and credit reporting agency that uses the alternate business names, Cavalry SPV II, LLC, Cavalry Investments LLC, and Cavalry SPV I, LLC. Buzzfile estimates Cavalry Portfolio Services’ annual revenue at $13.4 million and the size of its headquarters staff at 82 employees, with an estimated 82 total employees across all locations.
Who does Cavalry Portfolio Services collect for?
Cavalry Portfolio Services acts primarily as a debt purchaser and debt collector. Unlike many third-party collection agencies, Cavalry purchases delinquent debts from consumer retailers, rather than merely collecting them on their behalf. According to its website, Cavalry is “a leader in the acquisition and management of non-performing consumer loan portfolios, helps people create affordable solutions to resolve their debt and is committed to providing customers with a professional experience.”
The Cavalry website does not provide any detailed information about the types of businesses or industries for whom they collect debts. Cavalry employs “Resolution Specialists who work with customers to identify solutions that improve their financial fitness. These highly trained team members have extensive knowledge about the various financial options available and work to find the most suitable options for each and every customer.”
Cavalry’s core values include consumer care; achieving excellence; valuing integrity; active, open communication; responsibility; working toward a common purpose; “exciting the human spirit”; and social betterment. Their collection services include legal services and credit reporting to all three national credit reporting agencies.
Cavalry Portfolio Services cites membership in the Receivables Management Association (RMA). Their website provides links to state and federal legal disclosures and to the Consumer Education page of the RMA website.
Who are we? We are Lemberg Law, a Consumer Law Firm
Lemberg Law is a consumer law firm helping victims of collection harassment and abuse. We are ranked A+ by the BBB. We’ve helped more than 15,000 consumers stop harassment and recover money from debt collectors. Harassed? Abused? Misled by a collector? Call our Helpline today! There is no charge unless we win.
How many complaints are there against Cavalry Portfolio Services?
As of December 2019, the BBB has closed 297 complaints against Cavalry Portfolio Services in the preceding 3 years, with 49 complaints closed in the previous 12 months. Most of those complaints cited problems with billing and collections, although 25 complaints also cited problems with customer service. As of March 2015, the Consumer Financial Protection Bureau (CFPB) has closed 115 complaints involving Cavalry. Justia lists at least 8 cases of civil litigation involving Cavalry.
Can Cavalry Portfolio Services Sue Me or Garnish My Wages?
It is illegal for a debt collector to make empty threats to sue you or garnish your wages. It is also unlikely Cavalry would sue you for a debt you may not owe or they cannot validate. However, debt collection agencies are known to have summoned debtors to court and garnish wages after a default judgement. Contacting an attorney BEFORE this could possibly happen would be a smart move. We’ve helped thousands of consumers fight back against unscrupulous debt collection harassers. Find out if we can help you too today!
In June 2018, in United States District Court for the District of New Jersey, a judge issued an order in a case alleging Cavalry Portfolio Services had violated both the FDCPA and the New Jersey Consumer Fraud Act (NJCFA). In this case, the plaintiff had opened a department store credit card. She began making purchases with the card in 2009 and made her last payment on the card in September 2010. In October, she defaulted on the card, and in March 2011, the original creditor began collection efforts. In July 2013, the debt was sold to Cavalry. The plaintiff had not made any payments on the delinquent account since her last payment in September 2010, so in April 2015, Cavalry filed suit…to collect the balance owing on the account, which Cavalry claimed was over $1,600.00. In her complaint, the plaintiff alleged that Cavalry had violated the FDCPA by attempting to collect an invalid debt. According to the complainant, “the four year statute of limitations in Article 2 of the Uniform Commercial Code had expired when Cavalry filed its… collection action.” The plaintiff also requested that the Court certify her complaint as a class action, so that all others who had received similar letters from Cavalry attempting to collect debts past the statute of limitations would also be compensated. Attorneys for Cavalry argued that the appropriate statute of limitations of the debt was six years, not four years.
At the June 2018 hearing, the Court had to decide whether the debt CPA was attempting to collect was still actionable under the FDCPA. The Court noted that this distinction was important because the case was filed more than four years but less than six years after the debt was incurred. According to the plaintiff, the credit she used to make purchases was issued solely for consumer shopping at one, specific retail outlet, and that her purchases at that store “should be regarded as installment transactions between the original creditor and herself as buyer of goods.” In support of her claim, she cited a previous case in which it had been determined that “claims arising from a retail customer’s use of a store-issued credit card…are subject to the four-year statute of limitations.” Attorneys for Cavalry argued that the credit card was not issued by the department store, but by a financial services company, and that the credit card could have been used not only at the department store, but also at a wide variety of many other retail outlets that also had a similar credit arrangement with the finance company. As a result, because a credit card that is not issued for use at only one retail outlet should be considered a multi-store credit card more akin to a line of credit, Cavalry argued that the six-year statute of limitations should apply.
Ultimately, the court determined that from the plaintiff’s perspective, the card she had obtained was only a single-store credit card. In addition, although Cavalry had claimed they had sent documentation to the plaintiff indicating that the credit card was a multi-store card, the Court decided that they had not submitted enough evidence to convince them that the plaintiff’s case should be dismissed. As a result, the Court denied Cavalry’s Motion of Summary Judgement and allowed the plaintiff to proceed with her complaint.
Press Releases of Lawsuits Brought On By Lemberg Law Against Cavalry Portfolio Services, LLC
October 5, 2015.On behalf of our client, Lemberg Law recently filed a complaint in U.S. District Court, Southern District of New York. The case, against Cavalry Portfolio Services, charges the debt collection agency with violating federal law and asks for between $500 and $1,500 per robocall in statutory relief, plus other relief.
Robocalls are annoying, frustrating, and sometimes they’re against the law. Our client says that this debt harasser robocalled her cell phone. She thinks she was getting robocalls because, when she answered the calls from Cavalry Portfolio Services, she heard silence before hearing a beep. Our client says that she never gave Cavalry Portfolio Services her cell phone number and never gave them permission to call her cell phone.
The lawsuit alleges that Cavalry Portfolio Services violated the Telephone Consumer Protection Act (TCPA) by calling our client’s cell phone without her express consent using an automatic telephone dialing system or a predictive dialer.
March 18, 2014.In a class action complaint, Lemberg & Associates is representing Cory Horton, who is suing Cavalry Portfolio Services, LLC, for alleged violations of the federal Telephone Consumer Protection Act. The complaint alleges that Cavalry Portfolio Services negligently, knowingly, and/or willfully placed calls to Mr. Horton’s cell phone, thus violating the TCPA and invading his privacy.
The complaint alleges that Mr. Horton received autodialed cell phone calls from this agency in an attempt to collect on a debt allegedly owed by Mr. Horton. When Mr. Horton answered the calls, he often heard a prerecorded message. He had never given his cell phone number to the creditor or to Cavalry, and did not provide his express consent to robocall his cell phone.
The class of people being represented are those who, between February 2009 and February 2013, received a cell phone call from Cavalry Portfolio Services that was placed using an automated telephone dialing system and/or by using an artificial or prerecorded voice and who did not provide prior express consent for such calls.
Update: The court granted a joint motion to vacate deadlines and stay the case pending completion of mediation.
Cavalry Portfolio Services Calling You?
Federal laws protect you. The Fair Debt Collections Practices Act (FDCPA) regulates the behavior of collection agencies by prohibiting actions such as the use of abusive or threatening language; harassment; or the use of false or misleading information to collect a debt. The FCRA regulates how collection agencies and creditors report delinquent debts to credit reporting agencies. Additional consumer protection laws include the Telephone Consumer Protection Act (TCPA) and the Consumer Financial Protection Act (CFPA).
Can I sue Cavalry SPV for harassment?
Yes. If you want to enforce your rights, or recover money for violations — you need to sue. Federal laws provide individuals like you with a means to seek monetary damages in court. For example, the FDCPA allows consumers who have been violated to recover damages of up to $1,000, plus attorney fees and court costs.
Consumers have reported this agency harassing them from the following numbers:
“We’re so impressed with the way the lawyer listened to us and knew that the place we were in. Thank you for stopping the calls. The check was a wonderful bonus, but mostly we are glad we are not being hounded anymore.”
“I received outstanding professionalism from the own staff. I had a horrible experience when trying to solve a debt. 1 debt collector associate said she would speak to the prosecutor’s office and another representative told me that when I called the office back he would call the police and have me arrested. I had been insulted, mocked, and threatened, and feared that the police would appear at my door any moment.”
“I never thought I’d finally be free of the nonstop phone calls and letters in the mail, but I finally am free. You went to work straight away, and I saw results fairly quickly. I felt like you really cared about getting me the relief I longed for. I can not thank you enough”
Can You Help Me Delete Cavalry Portfolio Services from My Credit Report?
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About the Author:
Sergei Lemberg is a lawyer whose practice focuses on consumer law, class actions and personal injury litigation. He has been repeatedly recognized as the “most active consumer attorney” in the country. In 2020, Mr. Lemberg represented Noah Duguid in the United States Supreme Court in the case entitled Duguid v. Facebook. He is the author of Defanging Debt Collectors, a book that teaches consumers how to battle debt collectors and win.