Beating Cavalry SPV at Their Own Game: A Guide to Handling Debt Collection Calls.

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Are you tired of being hounded by debt collection calls from Cavalry SPV? How did they get your information, or what to do next? You’re not alone! 

Cavalry SPV is a significant player in the debt collection industry, known for buying old debts from big banks like Wells Fargo and CitiBank. 

But here’s the catch, when creditors sell these unpaid debts to companies like Cavalry SPV. They can make some money back, even if it’s a fraction of what you actually owe. And they also get to avoid the costs of chasing you down for payment. 

But here’s the thing, Cavalry SPV isn’t above using sneaky tactics to get their money. That’s where their subsidiary, Cavalry Portfolio Services, comes in. 

If you’re wondering how to handle your debt with them, don’t worry; we have you covered with some options.

Request Cavalry SPV to Validate the Debt

Asking a debt collector to validate your debt is a crucial step in the debt collection process. It helps you understand the debt details, identify any errors or discrepancies, and protect your rights as a consumer.

In the Fair Debt Collection Practices Act (FDCPA), debt collectors are required to provide validation of the debt if requested by the consumer within 30 days of their first contact. This validation must include the original creditor’s name, the debt amount, and Proof that the debt collector has the legal right to collect the debt they are claiming you owe.

By requesting validation of the debt, you can ensure that the debt is accurate and that the debt collector is acting legally. This can also help you make an informed decision about handling the debt, whether negotiating a payment plan, disputing the debt, or seeking legal assistance.

Additionally, suppose the debt collector is not able to provide validation of the debt. In that case, they must cease collection activities on that debt. This will give you peace of mind, knowing that you are no longer being chased for a debt you may not owe.

Asking a debt collector to validate your debt is crucial in protecting yourself from debt collection harassment, ensuring that the debt is accurate, and making an informed decision about handling the debt.

When requesting validation of a debt, you can ask the debt collector for the following specific details:

  • The name of the original creditor
  • The amount of the debt
  • The date you submitted the last payment on the debt
  • A copy of the original contract or loan agreement
  • The Proof that the debt collector has the legal right to collect the debt, such as a copy of the assignment or purchase agreement for the debt
  • Information about how to dispute the debt if you believe it is inaccurate
  • Information about the statute of limitations for the debt in your state
  • A breakdown of any interest, fees, or charges added to the original debt amount
  • Information on how payments made on the debt are applied and credited.

Work Out a Payment Plan with Cavalry SPV

It is important to remember that debt collectors must provide this information if requested within 30 days of the first contact. They must only collect the debt if they can provide the information.

Suppose a debt collector can validate your debt. In that case, they have provided you with the necessary information to confirm the debt is accurate. They have the legal right to collect it. In this case, proposing a payment plan with the company is one of the options available to settle the debt.

A payment plan is an agreement between you and the debt collector to repay the debt in a series of regular, manageable payments. Payment plans can be a good option if you cannot pay the total debt at once but can make regular payments over time.

By proposing a payment plan, you can agree on the repayment terms, including the amount and frequency of payments. This can help you avoid legal action and additional fees, such as late fees or interest charges. Additionally, it will help you budget and plan your finances accordingly, so you can know when the debt will be fully paid off.

It’s also important to remember that by proposing a payment plan, you are showing the debt collector that you are willing to take responsibility for the debt and are working towards a solution to pay it off. This is a positive step and may also prevent the debt collector from taking legal action against you.

Try to Settle The Debt 

Settling a debt with a collection company is another option available to pay off the debt. Debt settlement means negotiating with the creditor or debt collector to pay off a portion of the debt in a lump sum or through a series of payments in exchange for the creditor or debt collector agreeing to forgive the remaining balance.

For example, suppose you owe $10,000 to a creditor and cannot pay the total amount. In that case, you may be able to negotiate a settlement where you pay $5,000 in a lump sum or through a series of payments. The creditor agrees to forgive the remaining $5,000 of the debt.

Debt settlement can be a good option if you have a lump sum of money available and are willing to negotiate with the creditor or debt collector. However, it is essential to remember that it may harm your credit score. It is crucial to consult with a debt professional before proceeding with a debt settlement.

It is also important to note that some debt collectors have differing views on settling the debt. In some cases, the creditor may have already sold the debt to a debt purchaser and may not have the authority to settle the debt.

In summary, debt settlement is an option where the consumer, with the help of a debt professional, negotiates with the creditor or debt collector to pay off a portion of the debt in exchange for forgiving the remaining balance. It can be a good option for those with a lump sum of money available and willing to negotiate with the creditor or debt collector. Still, it may hurt their credit score, and it is essential to consult a professional before proceeding with a debt settlement.

Seek help from a debt professional

In conclusion, settling a debt with Cavalry SPV can be confusing and stressful. Still, it’s essential to understand that you have rights as a consumer. 

One of the most important steps is to request validation of the debt from Cavalry SPV to ensure that the debt is legitimate and that the statute of limitations hasn’t passed. 

If the debt is validated, you can seek help from a debt professional to negotiate a settlement. 

If you are struggling with debt and are looking for assistance in dealing with companies like Cavalry SPV, Debt Management Success can connect you with professional debt experts who can help with debt calls, debt lawsuits, and debt settlement. 

Don’t let debt collectors take advantage of you; take control of your financial situation and seek help today.

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Join the over 50 Thousand people who have received help from Debtmanagementsuccess.com!

Contact Information
Do You Owe Over $10,000 in Federal Student Loans?
What is The Current Loan Status of Your Loans?
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Are you Currently Enrolled in College or Going Through Active Bankruptcy?
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