Have an issue with Cavalry Investments? Need help?
Are you being harassed by a debt collector? Is someone from Cavalry Investments contacting you by phone, mail, email, or Facebook? Are they threatening to sue? We explain all about Cavalry Investments and whether they are legitimate and what to do if they contact you.
Cavalry Investments is a debt buyer. The company was founded in 1991 when it went by the name Zirmak Investments, L.P.
If you owe legitimate debt, Cavalry Investments is a legitimate company that will try and collect, and yes, you should pay them. However, even legitimate companies have been known to sometimes act unfairly and violate things like the Fair Debt Collection Practices Act (FDCPA). So if you have been harassed or treated unfairly, consider filing a complaint or working with an attorney.
Yes, Cavalry Investments is a legitimate company.
Cavalry Investments purchases many types of debt, including debt from big corporations like Chase and Bank of America, for their credit cards and overdrawn accounts, but they also collect for cell phone companies and medical providers.
Don’t assume you can ignore Cavalry Investments. If they believe they are collecting on unpaid debt that is legitimate, they can file a judgment against you to recover the money. It’s best to check into why they are contacting you and take legal action as necessary thereafter.If they violate the most recent FDCPA regulations about when and how they contact you, you can share your complaints with outside attorneys, or file complaints with the government. You can get legal help to sue the collection agency if that is insufficient.
Cavalry Investments collect for themselves. They purchase debt from credit card companies on medical providers, and then they try to recover that debt for a profit.
Sometimes debt collectors call you when you don’t actually owe anything. This can happen when someone accidentally reported bogus debt, there was a case of mistaken identity, or more commonly, you have a phone number that is associated with an old account.No matter why they are calling you, if you believe it’s a mistake, it’s up to you to validate the debt with Cavalry Investments immediately. This is a process where you ask them to confirm the legitimacy of the debt and that it belongs to you. You have 30 days from the first point of contact to start this process. If the company can’t validate the debt, they can’t continue to pursue repayment.
If they are calling you about debt you have already paid, confirm that your credit report accurately reflects that information. Sometimes your credit report doesn’t say that the debt is paid when it was. Update your credit report and then let the company know that they are working with incorrect information by starting that validation process within the first 30 days of contact.
As a debt collector, some of the laws that Cavalry Investments must follow include the FCRA, the FDCPA, and the TCPA.
That alphabet soup stands for the Fair Credit Reporting Act, which gives you rights to help ensure your credit report remains accurate; the Fair Debt Collection Practices Act, which protects you from being abused and deceived by debt collectors; and the Telephone Consumer Protection Act, which limits robocalls and other telephone spam.
If you think any of these consumer protection laws may apply to your situation, tell us about it.
If Cavalry Investments contacts you about expired debt, confirm that your credit report accurately reflects the SOL. Some companies are working with incorrect information or they didn’t do their part to validate the debt when they bought it. No matter what, if there’s a mistake make sure the credit reporting agencies fix it and that you inform Cavalry Investments with a cease communications notice. An attorney can help you with this.
Employees who work for collection agencies don’t usually make much money. They get paid a minimum hourly wage plus bonuses for settling your debt. The companies themselves usually buy your debt for pennies on the dollar, often between one and ten cents for every dollar of debt you have. You can use these two pieces of information to negotiate. Companies often ask for between 40% and 80% of your original debt, but they are likely to settle for less if it means getting a commission now rather than months from now.
If Cavalry Investments asks you to pay debt you don’t think you owe, you can ask them for a validation letter. It is up to them to prove the authenticity of the debt they are trying to collect. If they can’t, then you can send them a letter of insufficient validation. If they ask you to pay a debt you owe, the easiest way to get rid of them is to settle with them. Again, you might be able to settle for less given that they aren’t the original lender, so they are only focused on getting a profit over the minimal amount they paid for the debt–not the full amount you owe. You can work with an attorney who can negotiate on your behalf.
Yes, if the debt is not expired or beyond its SOL. However, debt collectors like Cavalry Investments are prohibited from suing or threatening to sue consumers for payment on a debt that is past the statute of limitations. They might even make a mistake and sue you over debt that isn’t yours.
Cavalry Investments Holdings LLC owns Cavalry Investments.
The current CEO is Andrew Zaro who recently made the news for purchasing an $11 million home in Beverly Hills.
Cavalry Investments is headquartered in Greenwich, CT.
Cavalry Investments buys debt from big corporations like Chase and Bank of America, for their credit cards and overdrawn accounts, but they also collect for cell phone companies and medical providers.
Employees are given an hourly rate with a commission or bonus every time they get a settlement. So they are more likely to settle with you even if it’s only a fraction of the total amount you owe if it means getting a bonus right away.
Have you seen an item on your credit report that says “Cavalry Investments”? You might not recognize it or have any idea where it came from. This item on your credit report reflects a delinquent account that was sent to collections. It means that a collections agency has purchased your delinquent account from the original lender.
Legally a lawyer is not required to deal with any type of debt collection but it might certainly be in your best interest. Firstly, having a lawyer can make it a lot easier than having to field all the phone calls and text messages or emails you get. Secondly, a lawyer has a lot of expertise when it comes to deadlines and the written notices that have to be sent for specific circumstances. They can do all of this on your behalf. Finally, debt collection employees don’t always get a lot of training, so they might make mistakes and not always follow the rules when it comes to the Fair Debt Collection Practices Act. Having an attorney can help you sue Cavalry Investments for damages if they violate the law.
The FDCPA uses the word “verify,” but some other organizations use the word “validate.” Verification and validation both have two meanings:First, You “validate” a debt by sending a letter to Cavalry Investments officially asking them for information that would confirm the validity of the debt. Remember that you have 30 days from the first time Cavalry Investments contacts you to validate the debt. if they were trying to collect on separate accounts you need to send separate requests for each account. Always keep copies and send it through the mail with certified tracking and a signature requirement. Second, Cavalry Investments then “validates” the debt on their end by providing you with this information. once they get your letter they have to stop all of their collections activities until they have sent you verification which shouldn’t take more than 30 days. If they don’t follow this process, they can’t verify the debt, or they break the law while doing so, you can take additional legal steps. Attorneys can make this process easier.
It can take anywhere between a few weeks and a few months to settle depending on the complexity of your case. Sometimes it can take a couple of years especially if there are delays because of limited Staffing or because you are in the middle of something like bankruptcy filings or you are trying to prove financial hardship.However, employees get paid a bonus when they settle so they are incentivized to help you get your settlement done sooner.
How much you offer is based on your financial hardship. It is always best to offer what you can but you don’t necessarily need to give everything you have. A reasonable settlement won’t leave you bankrupt or require you to sell your house. In most cases you can negotiate for a lower percentage of your total debt, remembering that collection agencies only pay a fraction of the value for your debt and the people who are calling you to collect on that debt get paid a bonus. Sometimes this incentivizes employees to accept a lower settlement in exchange for getting a settlement right away.
If you ignore attempts to contact a legitimate debt, yes, they can sue you, but no, they cannot just take all the money in your bank account without a court order. If you ignore attempts to collect on a debt they can get a default judgment against you which basically means they now have permission from the courts to try and collect on your debt using whatever accounts you have. They do have to inform you of these steps when the process comes about so if you continue to ignore them you might not realize the process has been initiated.
You can ignore Cavalry Investments, but you shouldn’t. Even if they have you mistaken for someone else or the debt has expired, it is better to consider legal action and fix the mistake. According to changes to Fair Debt Collection Practices Act (FDCPA) in 2021, collection agencies like Cavalry Investments can contact you over debt via email, text message, and social media messages without prior consent and if you ignore all of these attempts, they can sue you or file a lawsuit.
When debt collection agencies like Cavalry Investments purchase debt it comes with the contact information that was included as part of your paperwork to get the original debt or was added to your account.
Yes, you can probably pay your debt to Cavalry Investments with a credit card. They work with you to accept payments in many forms over the phone, by mail, or online but sometimes there is a processing fee.
Yes, paying off collections will improve your credit long term, but it doesn’t happen immediately. Accounts that were sent to collections stay on your credit report for seven years unless you negotiate for what is called a tradeline deletion. As the name suggests, this is where the entire line item is deleted so the account is removed. Even if you don’t negotiate for this, that 7 year mark doesn’t start until you settle your debt so the sooner you pay off collections, the sooner you can initiate that 7 year period and the sooner you can have the account cleared from your report.
A statute of limitations or SOL is the expiration date for each type of debt. How long debt stays active is based on the type and the state. However, qualifying debt does expire at the end of the SOL.
When you file for bankruptcy, the process is actually quite lengthy and complicated. As an individual there are different types of bankruptcies called chapters. Each chapter has a different set of requirements. One chapter, called chapter seven, erases all of your debt only after you have liquidated every ass that you have to try and offer a lump-sum settlement that gets split between all of your creditors.If you are considering bankruptcy or you are currently in the process of filing for bankruptcy, this is something to discuss in more detail with an attorney who can look at your specific situation.
If you have debt that was paid off, you can get it removed from your credit score by contacting the credit reporting agencies. The same is true for debt that has expired. If there is debt on your credit score that isn’t yours, contact the credit reporting agencies to confirm the mistake.However, if you have debt that was sent to collections it remains on your credit score for 7 years. So it stays there showing a zero balance but it’s still there. This means it can hurt your score for seven years although not nearly as much as being unpaid. One of the easiest ways to get this type of debt removed from your credit score is to negotiate for what is called a tradeline deletion as part of your settlement with the company. With a tradeline deletion the debt collector informs the credit reporting agencies to remove that account from your credit score entirely so nothing gets reported and it is erased.
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