What Is Cavalry SPV I LLC, and Why Is It on My Credit Report?
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Summary:
Finding Cavalry SPV I LLC on your credit report can be alarming, especially if the debt is unfamiliar or incorrect. This guide explains how to assert your rights under the Fair Credit Reporting Act (FCRA) and outlines detailed steps to potentially remove Cavalry SPV I LLC from your credit report. By understanding your rights and following these steps, you can help protect your credit score and rectify mistakes that might impact your financial health.
No one appreciates dealing with debt collection agencies, particularly when the debt listed is incorrect or outdated. A mark on your credit report from a collection agency like Cavalry SPV I LLC can affect your credit score for years. This guide will delve into who Cavalry SPV I LLC is and provide actionable steps to challenge and potentially remove their entry from your credit report.
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What is Cavalry SPV I LLC?
Cavalry SPV I LLC is a debt collection agency based in Greenwich, CT. The company specializes in purchasing portfolios of delinquent consumer debts from original creditors and attempting to collect on them. These debts can include credit card balances, auto loans, and other consumer loans.
Consumers have lodged numerous complaints against Cavalry SPV I LLC, often citing aggressive collection tactics, such as persistent phone calls and letters. Understanding your rights under the Fair Debt Collection Practices Act (FDCPA) is crucial when dealing with any debt collector, including Cavalry SPV I LLC.
Debt collectors like Cavalry SPV I LLC can contact you by phone, mail, or other methods to collect a debt. However, they must follow the rules outlined in the FDCPA to ensure fair treatment of consumers.
Pro tip
Be proactive by knowing your rights under the FDCPA and always verify the accuracy of debt claims made by collectors.
Why is Cavalry SPV I LLC contacting me?
If Cavalry SPV I LLC is reaching out to you, it’s likely because they purchased your delinquent debt from the original creditor. They now own the debt and are attempting to collect the amount owed. Typically, they contact you through phone calls, letters, and sometimes emails to inform you about the debt and seek repayment.
Does Cavalry SPV I LLC affect my credit score?
Yes, having an account sent to a debt collection agency like Cavalry SPV I LLC can significantly impact your credit score. A collection account can stay on your credit report for up to seven years, lowering your score and making it harder to get a credit card, mortgage, or other loans in the future. Therefore, if you see Cavalry SPV I LLC on your credit report, you should take immediate steps to address it.
Fortunately, you are protected by the Fair Credit Reporting Act (FCRA), which regulates how debt collections are reported on your credit report. Before reporting a debt to a credit bureau, debt collectors must take one of the following actions:
- Speak to you about the debt, either by telephone or in person.
- Mail you a letter or send an electronic communication about the debt and wait a reasonable amount of time (generally 14 days) for a response, in case the letter or email is returned as undeliverable.
Pro tip
It’s a good practice to check your credit report periodically to ensure there are no mistakes or surprises. You can get a free copy of your credit report from each of the three main credit reporting agencies once every 12 months by visiting AnnualCreditReport.com.
How to remove Cavalry SPV I LLC from your credit report?
Whether the debt is legitimate or not, taking steps to remove Cavalry SPV I LLC from your credit report is crucial. Follow these comprehensive steps:
- Review your credit report for any inaccuracies involving Cavalry SPV I LLC. Obtain a free copy from major credit reporting agencies (Experian, TransUnion, and Equifax).
- If the debt is accurate but disputable, file a dispute with the credit reporting agencies and provide supporting documentation.
- If the debt is inaccurate, dispute the information by supplying evidence of the error.
- Engage with Cavalry SPV I LLC in writing to request a debt validation letter. This letter should detail the debt and your rights regarding disputing it.
- If the debt is valid but you wish to resolve it, consider negotiating a pay-for-delete agreement, where you pay a portion of the debt in exchange for its removal from your credit report.
- Should disputes not resolve the issue, consider seeking legal advice to protect your rights.
Request all correspondence in writing
Ensure a documented record of communications with Cavalry SPV I LLC by requesting written correspondence. Contact Cavalry SPV I LLC at the following address:
Cavalry SPV I LLC Contact Information
1 American Lane, Suite 220
Greenwich, CT 06831
Ph# (866) 483-5139
1 American Lane, Suite 220
Greenwich, CT 06831
Ph# (866) 483-5139
Request a debt validation letter
Cavalry SPV I LLC is obligated by law to provide a debt validation letter within five days of their initial communication with you. This letter provides detailed information about the debt owed, helping to confirm the debt’s legitimacy and outlining your rights.
- Name and mailing information of the debt collector.
- Name of the original creditor.
- Account number associated with the debt.
- Itemization of the current debt amount, including interest, fees, payments, and credits.
- Your debt collection rights and how to dispute the debt.
Pro tip
Use certified mail for all communications with debt collectors, credit bureaus, or other agencies. This helps maintain a record of sent and received information, which is crucial for disputes or legal settings.
File a dispute with the credit bureaus
If you believe you don’t owe the debt or if Cavalry SPV I LLC fails to validate it, file a dispute with the credit bureaus. Each bureau has its own process, requiring documentation of the error.
Equifax
P.O. Box 740256
Atlanta, GA 30374
P.O. Box 740256
Atlanta, GA 30374
Experian
P.O. Box 4500
Allen, TX 75013
P.O. Box 4500
Allen, TX 75013
TransUnion LLC, Consumer Dispute Center
P.O. Box 2000
Chester, PA 19016
P.O. Box 2000
Chester, PA 19016
Check the statute of limitations
Evaluate whether the statute of limitations in your state has expired. This may influence the enforceability of the debt and its removal from your credit report, although it does not prevent debt collectors from attempting to collect the debt or report it.
Negotiate a pay-for-delete agreement
If you genuinely owe the debt, consider negotiating a pay-for-delete agreement with Cavalry SPV I LLC. This involves paying part of the debt in exchange for removing the collections account from your credit report.
Monitor your credit report
About 30 days after taking action, monitor your credit report. If no changes occur, consider filing a complaint against Cavalry SPV I LLC and seek legal assistance if necessary.
How to file a complaint against Cavalry SPV I LLC
If you believe Cavalry SPV I LLC has engaged in unfair practices or violated the law, filing a complaint with relevant agencies is an option:
- File a complaint with the FDIC. This applies if the debt collection concerns a bank regulated by the FDIC.
- File a complaint with the CFPB. This raises awareness and aids others experiencing similar issues.
- Find your state’s regulator. Many states have their versions of the FDCPA. Look up your state’s regulator in the State Bank Directory.
Pro tip
Use the 11-word phrase to request cessation of debt collector communications: “Please cease and desist all calls and contact with me, immediately.”
Frequently asked questions
Is Cavalry SPV I LLC a legitimate company?
Yes, Cavalry SPV I LLC is a legitimate debt collection agency that is authorized to collect debts across various states.
Can Cavalry SPV I LLC sue me or garnish my wages?
Yes, Cavalry SPV I LLC may legally pursue wage garnishment or lawsuits to recover debts, depending on the state’s laws and the age of the debt.
How can I stop Cavalry SPV I LLC from contacting me?
You can send a written request to Cavalry SPV I LLC asking them to cease all communications with you. Use certified mail to send this request and keep a copy for your records. Under the Fair Debt Collection Practices Act (FDCPA), they must comply with this request.
What should I do if I can’t pay the debt I owe to Cavalry SPV I LLC?
If you cannot pay the debt, you should contact Cavalry SPV I LLC to discuss possible payment arrangements. You may also consider seeking advice from a credit counselor or a consumer rights attorney to explore your options, such as negotiating a settlement or disputing the debt if it is not valid.
Key takeaways
- Dealing with debt collectors can negatively affect your credit report for a significant period.
- Understanding your rights under the FCRA is crucial for disputing and resolving inaccuracies.
- Effective strategies to consider include validating the debt, negotiating deletions, and engaging in legal avenues if necessary.
- Maintain all debt-related communications in writing to protect your interests.
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