Cavalry Portfolio Services is a debt collection agency that works for a variety of clients, primarily focusing on collecting debts related to consumer and commercial accounts. They don't directly collect for individual creditors in the way some smaller collection agencies might. Instead, they work with larger organizations and financial institutions that have amassed significant portfolios of delinquent debt. Let's delve deeper into the types of clients they serve:
What Types of Debt Does Cavalry Portfolio Services Collect?
Cavalry Portfolio Services doesn't specialize in just one type of debt. Their diverse portfolio reflects the range of clients they represent. This commonly includes:
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Credit Card Debt: This is a significant portion of their collections. When consumers fall behind on credit card payments, the credit card companies often sell these debts to agencies like Cavalry.
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Medical Debt: Outstanding medical bills are another area where Cavalry Portfolio Services operates. Hospitals, medical providers, and billing agencies often sell off delinquent accounts to collection agencies to recover some of the outstanding amounts.
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Student Loan Debt: While less common than other debt types, Cavalry might be involved in collecting on defaulted student loans, although this is generally handled by government agencies and specialized student loan servicers.
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Retail Debt: Unpaid balances from retail purchases, such as furniture or electronics, are also frequently passed on to collection agencies like Cavalry.
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Telecommunications Debt: Unpaid bills from phone, internet, or cable services could end up in the hands of Cavalry Portfolio Services.
Who Are Cavalry Portfolio Services' Clients? (The Big Picture)
Understanding Cavalry's client base is crucial. They don't typically collect for your local plumber or small businesses. Their clientele is more substantial and includes:
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Large Banks and Financial Institutions: These organizations frequently offload delinquent debt to reduce their own costs and streamline their operations.
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Debt Buyers: Companies that purchase portfolios of debt at a discount and then attempt to collect the full amount. Cavalry often works for these debt buyers.
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Credit Unions: Similar to banks, credit unions may also sell off their delinquent accounts.
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Large Corporations: Corporations with significant customer accounts receivables might utilize agencies like Cavalry to manage delinquent accounts.
It's important to remember that Cavalry Portfolio Services doesn't create the debt; they simply pursue collection on behalf of their clients. If you receive a notice from them, it's vital to understand which debt is being pursued and to verify its legitimacy.
How to Verify a Debt from Cavalry Portfolio Services
If you receive communication from Cavalry Portfolio Services regarding a debt, take these steps:
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Request Validation: Under the Fair Debt Collection Practices Act (FDCPA), you have the right to request validation of the debt. This means asking for proof that the debt is legitimate and belongs to you.
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Review Your Credit Report: Check your credit report to verify the existence of the debt and the amount owed.
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Contact the Original Creditor: If possible, try contacting the original creditor (the company to whom you originally owed the money) to discuss the debt directly.
By taking these steps, you can protect your rights and ensure you're dealing with a legitimate debt collection attempt. Always approach these situations responsibly and document all communication with Cavalry Portfolio Services.
