Having to deal with a debt lawsuit from Cavalry SPV I LLC can be challenging. However, it is actually not that hard to defend yourself if you know the right knowledge and strategies. This post will guide you to navigate the legal process and improve your chances of success.
Cavalry SPV I LLC Overview
Cavalry SPV I LLC, which is also known as Cavalry Portfolio Services, is the name of a debt collection agency or company. It is located at 500 Summit Lake Drive, Suite 400, Valhalla, New York 10595, according to the Florida Division of Corporations. The company focuses on purchasing debts like credit cards, medical bills, utility bills, and so on in bulk from original creditors at discounted rates and trying to collect these debts from the consumers. While it is not BBB (Better Business Bureau) accredited, it gets a good rating by this organization.
Reason Why You are Getting Called by Cavalry SPV I LLC
If you are contacted by Cavalry SPV I LLC, it means you have a debt to a creditor that has sold your debt to them and they are trying to collect the debt from you. Actually, it is not always like that. It can also be because your name is used by others, you had a debt but have paid it off and there is no confirmation, or there is a mistake.
Beating Cavalry SPV I LLC in a Debt Lawsuit
For those who get sued by Cavalry SPV I LLC and want to beat them in a debt lawsuit, you can follow the following steps:
1. Respond to the lawsuit
The first step that you need to do after getting a lawsuit from Cavalry SPV I LLC is to respond to it. do not ever think of running away or ignore it because they will automatically win the case and you will lose and have to pay everything. Depending on the state, you have a few days to file a response with the court. When responding, make sure to address the allegations. Aside from that, you should also state your defences.
2. Review the claim
Then, you have to review the records from the case. There is a chance for the records to be inaccurate because the company like Cavalry SPV I LLC is just a third party that purchased your debt from the original creditor. Even though you admit that you have a debt, it is still important for you to review the claim and do not only believe in what is written in the claim. Check out the claim and make sure the amount is accurate.
3. Request debt validation
Do not hesitate to request debt validation because you have the right to request such a thing under the Fair Debt Collection Practices Act or FDCPA. You can request it by sending a debt validation letter to Cavalry SPV I LLC. In the letter, you should request them to prove that the debt is yours and they have the right to collect it. Besides, you should also ask them to provide you with documentation, including the details of the original creditor and the amount owed.
4. Collect evidence
It is important for you to gather all relevant documents, such as communication with the original creditor, payment records, and any contact with Cavalry SPV I LLC. You should collect the documentation that states the amount of the debt, any amount of money you have paid, and so on.
5. Consider filing a counterclaim
If you believe that Cavalry SPV I LLC violates any laws under the Fair Debt Collection Practices Act or FDCPA, such as harassment, misrepresentation, or attempting to collect a debt you do not owe, you may want to consider filing a counterclaim.
6. Attend the court hearing
On the day of the court hearing, do not ignore it and make sure to show up. If you fail to do it, do not get surprised if the court releases a default judgement against you. During the hearing, please be clear and concise when presenting your case. Talk only facts and provide evidence that can support your defences.
7. Consider settlement
If you admit that you owe the debt but there is no way for you to pay the full amount at the moment, do not hesitate to negotiate a settlement. A debt collection company like Cavalry would usually prefer to settle for a lower amount than spend money on the trial.
8. Seek help from an attorney
As dealing with a debt lawsuit can be challenging, you are advised to consult with an attorney. The experienced one and the one that specializes in debt defence is better for you to increase the chance of winning the case. By hiring them, you will be able to get certain legal advice and you will have a legal representative that will represent you in court.
In Case You Lose a Debt Lawsuit to Cavalry SPV I LLC
If you lost a debt lawsuit against Cavalry SPV I LLC, you should be ready to face several consequences, such as:
Wage garnishment
Wage garnishment is a type of legal action where the creditors or debt collection agencies like Cavalry SPV I LLC are allowed to collect owed debts directly from the wages of a consumer by following the legal procedures or laws and regulations. The company usually decides to take this action after they have tried to collect the debt and all their attempts have failed. It is an effort to force the consumer to pay off their debt.
The process of wage garnishment will be started after a court order is released. After obtaining a court order, the company will ask their employer to hold a certain amount of money from the paycheck of that person so that the money can be used to pay off their debt. The minimum percentage of money that can be garnished has been regulated by law to keep the balance between the financial stability of the consumer and the creditor or the debt collection agency.
Bank account levy
Bank account levy refers to a type of debt collection that allows the creditor or a debt collection company to seize funds directly from someone’s bank account after a judgment is issued by a court. After getting the judgment, the company can ask the court to issue a writ of execution so that they can seize the funds from the bank account of their consumer legally without any issues.
Property lien
A property lien is defined as a situation where a party like Cavalry SPV I LLC restricts the sale or transfer of property owned by someone until that person’s debt is paid off. It is an effort to make that person pay off their debt. Just like the other two above, this one also must follow legal procedures. The individual has two options to resolve a property lien, which are repaying their debt or making a settlement with the company. If that person fails to do any of them, do not get surprised if the company starts a foreclosure process as they need to recover the owed amount by selling the property.
If there are any issues with the validity of the debt or the lien, arbitration can be used to resolve the issue outside the court. This one is not only cheaper but is also more efficient compared to litigation processes that are pretty long. It allows all the parties involved to present and defend their arguments before an arbitrator who has to be neutral issues a decision on the dispute.
Tips to Avoid Getting Sued by Cavalry SPV I LLC in the Future
In order to avoid getting sued by Cavalry SPV I LLC in the future, make sure to consider the tips below:
1. Maintain accurate records of debts
By maintaining accurate records of debts, you will be able to show them evidence when there is an issue or misunderstanding regarding a thing. It is a must for you to keep ever documentation, including communication logs, payment receipts, and loan agreements. Please keep everything organized and accessible. In order to ensure accuracy, do not forget to review these records regularly.
2. Communicate effectively with creditors
By keeping in touch with the creditors, you will be able to get beneficial solutions. It is better for you to inform them if you have a hard time financially and always stay honest about your situation.
3. Seek assistance from credit counselling services
By seeking help from credit counselling services, you will be able to learn about valuable financial education. Plus, you will also receive a guide from them. They can help you with many things, including developing a budget, learning about your financial obligations, and finding options for managing debts effectively.
