Let’s cut right to the chase: You most likely landed on this article because you’re in the Minneapolis/St. Paul area. And you’re getting a relentless stream of calls, letters or both from a company you’ve never heard of: Cavalry SPV I, LLC.
And the content of these calls is alarming: they’re either threatening to sue, or are telling you that they are already in the process of suing you!
Currently, scamming through phone calls and mail is at an all-time high, it may be alarming to have a pushy recurring name that lacks familiarity popping up so often. So let’s get down to the facts you need to know on Cavalry SPV I, LLC, what it means that they are suing you, and the steps you can take with that knowledge in hand.
Who Are Cavalry SPV I, LLC?
Cavalry SPV I, LLC is one of a handful of mega-buyers of debt in the United States.
These companies buy up debts and information on collecting them from other companies. Their business model involves making these buys at just pennies on the dollar, giving them a large amount of room to invest in collecting in full compared to the original holders of these debts.
Since 2002, Cavalry has made major debt buys usually around 4 cents per dollar discharged from their client. Think of it this way: if these folks picked up a $10,000 debt at their normal rate, they only had to front $400 to obtain the rights to it.
This lack of overhead costs opens up a lot of opportunity to spend money on paper mail, robocalls, and live phone calls. Cavalry SPV I, LLC usually takes full advantage of all of these avenues.
Why is Cavalry SPV, I LLC Suing Me?
Cavalry SPV I, LLC mainly focuses on debts discharged from major national banks. This includes many that have a prominent presence in the Minneapolis and St. Paul region such as:
- Wells Fargo
- Capital One
If you know of a debt held by a large bank and you’re receiving collection contact from Cavalry SPV I, LLC, there is a good chance that this is a legitimate attempt to collect.
While Cavalry SPV I, LLC tends to work with banks, they do make deals to obtain debt from other sources.
After the collections phase, Cavalry SPV I, LLC is the company that now has full rights to the debt. This gives them the right to pursue legal action up to and including suing the debtor directly.
Am I Obligated to Pay Them Immediately?
The answer to this question is tricky, and requires legal counsel to fully navigate, but fortunately there is an extremely simple answer that covers most of your bases: you are not obligated to pay Cavalry SPV I, LLC immediately after they contact you.
This is because there are legal procedures that debt collection agencies must follow, and frankly, sometimes they don’t.
If they do not have access to the full circumstances and information surrounding the debt, you are not legally obligated to pay. Also, sometimes these agencies will attempt to collect on debts that have already been paid either to them, or another agency.
Being sued by a debt collector is not the end of the road it may seem like at first glance. With legal counsel, it is simply your opportunity to have a fair day in court.
Are There Any Options for Dealing With Cavalry?
That’s where we come in! As specialists in defending clients from debt collection agencies including Cavalry SPV I, LLC, the team at Walker & Walker have the knowledge and experience to get you the best result legally possible.
How to Confront Cavalry Before Payment
If you haven’t paid a cent to Cavalry SPV I, LLC, don’t worry. We’ll examine every angle of the case, using state and federal law to your advantage on your behalf.
The extra time you took to avoid payment often turns out to be the right choice, when so often these companies fail to properly vet their debt collection.
What to Do If You Are Already Paying
For clients in Minnesota/St. Paul, even debts that have been partially or fully collected on still have a chance of being recovered.
Thanks to recent state statutes on this very topic, fully collected debts either paid direct or through wage garnishment can be recovered if the collection is proven improper.
Are you ready to take on one of the biggest debt collection agencies in the United States? Me and my team at Walker & Walker are ready and willing to do so on your behalf.
Bankruptcy filing with Walker & Walker is the answer to your problem — so please don’t hesitate to give us a call today!