Is Calvary Portfolio Services a scam? Cavalry Portfolio Services is a legitimate debt collection company with a history of harassing consumers on debts owed. They often bring civil lawsuits against people in Minneapolis, Saint Paul, and greater Minnesota.
If you’re reading this article it is likely because you have no idea who Calvary SPC I LLC is and turned to the web to find out more information on who they are and why they are contacting you. You may even have gotten a summons and complaint from them.
If you live in Minnesota and Calvary SPC I LLC is filing a lawsuit against you, Walker & Walker Law Offices may have a solution for you. We are a Minnesota Bankruptcy Law Firm with offices in Minneapolis, St. Paul, Blaine, and Brooklyn Park.
Calvary SPV I LLC is one of the nation’s largest debt buyers and can be contacted directly at 866-483-5139. This company buys debts for pennies on the dollar from banks such as Wells Fargo, Citi Bank, Chase and Capital One. According to the BBB, Calvary Portfolio Services has 100’s of complaints against them.
Many banks believe that collecting debt themselves would cost them more than to utilize a company such as Calvary SPV I LLC.
Once Calvary SPV I LLC has purchased a debt from a bank, they may use a debt collection company to send out harassing debt collection letters or make harassing phone calls to collect your debt.
They may also utilize a debt collection law firm such as Messerli & Kramer, Gurstel Law Firm, RiverView Law Office, Johnson, Rodenburg & Lauinger, or Raush Sturm to start a lawsuit against you in order to collect a debt.
Often, company’s such as Calvary SPC I LLC are only given a spreadsheet of information that they purchase from banks with little information.
The information contained on these collection sheets may only contain your name and contact information. Furthermore, is it possible that Calvary SPV I LLC cannot produce signed contracts or actual evidence that you owe anything.
In accordance with the Fair Credit Reporting Act, if Calvary SPV I LLC appears on your credit report they may not be able to actually prove that you owe a debt, which then in turn, must be removed from your credit report.
In Minnesota, a bankruptcy law firm can often get back money that was already garnished from paychecks or levied from bank accounts in the last 90 days, but only if the creditor got at least $600.
In Minnesota, it is against the law for a debt collector to threaten to sue you or garnish your wages. Calvary SPC I LLC will often not sue you for debt that they cannot prove that you truly owe them.
It is important to contact a bankruptcy attorney prior a default judgement for non-payment. We can hep you fight against debt collector harassment.
According to their website, Calvary Portfolio Services was founded in 2002 and “At Cavalry, the customer always comes first. Our customers receive the respect, consideration, and solutions they deserve. We understand that financial issues impact each person differently. Through our commitment to resolving each customer’s financial situation, we build relationships, not barriers.”
Calvary Portfolio Services are located in Valhalla, New York, Oklahoma, and Arizona. Calvary is a debt purchaser, which means they purchase debt that has been written off by companies.
Even in the event they are unable to collect on a debt, they are still able to generate a profit as they purchase debt for pennies on the dollar.
Remember, if you do not take action, you may receive a Summons and Complaint from Calvary SPV I LLC. Receipt of a Summons and Complaint means that formal legal action has been taken against you and you will have 20 days to respond to the lawsuit.
If you receive a lawsuit against you without a case number this is also something to look out for as the debt collection company would have to take on more costs to file your case with the courts and allow you more time as well.
If you receive a default judgment against you, that will entitle Calvary SPC I LLC to garnish wages and take further action to place a lien on your bank account or your home.
You may also face your credit report being negatively affected with this action and difficult applying for a loan in the future with this judgment on your credit report.
Everyone’s situation is unique and how you decide to handle debt collection harassment from Calvary SPV I LLC is ultimately up to you. If the debt you owe is relatively small, compared to the costs of employing an attorney, it may be best just to square up the debt and pay it off to the debt collection company so your credit report is not affected. Often debts can be settled with Calvary SPV I LLC for much less then they claim you owe sometimes around 50% or more.
Payment plans can often also be arranged to pay off your debt with a debt collection company.
If you owe more then $10,000, it would be a wise idea to contact an attorney about filing for bankruptcy. Filing for bankruptcy will enable you to avoid the harassing phone calls and debt collection letters immediately. You’ll have the option of filing for a Chapter 7 Bankruptcy which will get rid of unsecured debt. Filing for a Chapter 13 bankruptcy will allow you to have a payment plan of up to 60 months to pay off debts owed to collectors.
If you live in Minnesota and received a letter from Calvary SPV I LLC then it is important to contact Walker & Walker Law Offices right away and not delay.
We can help negotiate a fair settlement and explore your options with you to avoid the negative consequences of handling the debt collection on your own. Give us a call today to discuss how to deal with Calvary SPV I LLC at 612-824-4357.
Cavalry Portfolio Services, LLC
500 Summit Lake Drive, Suite 400
Valhalla, NY 10595
Phone Number: 800-501-0909