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Anyone deal with Cavalry Portfolio Services???

Date: Tue, 08/31/2010 - 17:02

Submitted by anonymous
on Tue, 08/31/2010 - 17:02

Posts: 202330 Credits: [Donate]

Total Replies: 7


I have a large alleged debt with Cavalry Portfolio Services. Anyone here settled with them? How much will they take, percentage wise? Thank you.


I'm dealing with them right now. I had an Orchard Bank credit card charged-off... the credit limit was only $300 and now my balance has ballooned to over $1800! (My fault, I know...)

They settled with me for $1500. I am making a payment for the first $500 this week and then paying $150 a month until the rest is paid off.

I spoke with a woman by the name of Mrs.Reis, her number is 888-481-4264 (direct line). Now I'm in no way support debt collectors, but I've dealt with my fair share of them and she has been the nicest and most helpful so far. She's really been trying to work with me to come up with a solution that works for both of us.

Hope this helps!


lrhall41

Submitted by on Tue, 08/31/2010 - 21:45

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Quote:

Originally Posted by Anonymous
I'm dealing with them right now. I had an Orchard Bank credit card charged-off... the credit limit was only $300 and now my balance has ballooned to over $1800! (My fault, I know...)
They settled with me for $1500. I am making a payment for the first $500 this week and then paying $150 a month until the rest is paid off.
I spoke with a woman by the name of Mrs.Reis, her number is 888-481-4264 (direct line). Now I'm in no way support debt collectors, but I've dealt with my fair share of them and she has been the nicest and most helpful so far. She's really been trying to work with me to come up with a solution that works for both of us.
Hope this helps!


Thanks for the info. Why did you settle for such a high amount? Typically you can settle with a CA for 50% or better.


lrhall41

Submitted by on Wed, 09/01/2010 - 19:23

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Why would you settle with them anyway? They usually don't have the correct information to collect on the debt. They either don't have any documented proof or they have tried to manufacture it and their case is full of holes! Remember too - you didn't have a contract with these people, but rather the original creditor who has sold your debt for pennies on the dollar. They have insurance for default accounts, get tax breaks when they charge off/write them off and then also sell your bad debt - so, they get their money, one way or another.


lrhall41

Submitted by Angeldove on Tue, 09/07/2010 - 05:09

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