Third Party Collection Agency Like Cavalry Portfolio is Fined $1.5million For Keeping Negative Entry On Consumers Credit Report. But You Can Have Cavalry Portfolio Deleted From Yours!

Cavalry portfolio is one of the largest third party debt collection agencies in the US. When I say third party, I am referring to a company that’s comes into the picture to collect on behalf of the original creditor you may have done business with. This company would either sell the rights to the account to this third party (in this case Cavalry Portfolio) or they would work on a commission basis.

Cavalry Portfolio is also sometimes misspelled as Calvary Portfolio services but they are one in the same company. Collection companies in general are a lot of times known for their aggressive and sometimes annoying phone calls and communications.

You might have also noticed a “cavalry portfolio chargeoff” on one of your three main credit reports with Equifax, Transunion or Experian. The reason this entry might not be familiar to you is because you never did business directly with them but instead they are the third party looking to collect on some sort of debt. You might also have a situation where the entry on your file is a total mistake and should not be there in the first place!

There are laws that protect consumers’ credit and credit reports, the most popular being the Fair Credit Reporting Act. A few years back one of the largest collection agencies was fined by the Federal Trade Commission for violating the FCRA (Fair Credit Reporting Act) and paid $1.5 million dollars. The exact reason they were fined was because they failed to include the “date of last activity” on consumer credit reports which would allow them to indefinitely leave the negative marks on the reports.

This was beneficial to them because that meant they could try and collect from the consumer forever and If the person tried to buy a home, car or apply for any type of consumer credit, even if it was 12 years after the “last activity” on the account, it will still show on the credit report and the person would most likely be denied for what they were applying for!

According to the FCRA, a collection account should be deleted from a file 7 years after the date of the last activity OR IF THEY ARE NOT PROPERLY VERIFIED WHEN DISPUTED BY THE CONSUMER. IF the collection agency does not include a date, then there was no way to tell when the item is to be deleted…

The $1.5 million dollar fine was the largest amount a collection company ever had to pay and it was moreso a message from the Federal Trade Commission to the agency that they cannot operate carelessly with consumer information. You should understand that there are laws in place that can assist you with getting your credit rating back on track. The key is knowing exactly how the challenge/dispute process works. (continue below) The disputing of inaccurate, outdated, questionable and unverifiable items on your credit report is your right under the law. Congress created the process to protect consumers and all the players involved must abide by these regulations. Also keep in mind that it’s about what the bureaus can PROVE to be accurate, those are the only entry’s that are allowed to stay on your files.

For example, If Equifax has a Cavalry Portfolio charge off on your credit report and you dispute it THE RIGHT WAY, they have to provide proof that the account is accurate and correct, and they have 30 days to do so.

If within 30 days they are unable to complete their investigation or cannot come up with the proper proof, then the item needs to be DELETED FROM YOUR FILE, PERIOD. As a matter of fact, if they do not comply with this they can be fined for non-compliance.

On a daily basis, savvy consumers that understand this process go from having a bad credit rating to a good one by using this very same knowledge. I know because I was forced to understand exactly how this all worked as a Real Estate Professional, my livelihood depended on it…I had a lot of clients that were in the process of shopping for a new home to purchase but were unable to move forward because of Cavalry portfolio and other collection and charge-off accounts.

I had no choice but to find a solution to their problem, and that I did.

The solution I found out about was a Credit Repair Advocate. I know you might be saying, what’s that?!

A Credit Repair Advocate is simply an organization that has an in-depth understanding of the Fair Credit Act from a legal standpoint and uses this wealth of knowledge to advocate on behalf of any consumer that needs their help. Their sole goal is to use their knowledge to make sure that a blemished credit rating becomes a good one in the quickest possible time. They make sure that negative items that are not properly VERIFIED by the Bureaus are DELETED from each report that it shows up on.

They would work with you each step of the way to make sure that your ratings improved so that you are later able to get approved to purchase a home, car or other items you might need using your credit. For the last 18 years they have been working assisting clients by successfully deleting thousands of negative entries from their reports.

Over the years I have referred many people to a particular credit repair advocate by the name of Lexington Law.

Here is a recent Cavalry Portfolio Charge-off they were able to get deleted from a report…

Good Luck, Tony Banks

P.S. Click Here to learn more about having Cavalry Portfolio Charge offs deleted.

Here is what others that have been through the process are saying;

“I just wanted to thank you and tell you that your system is going to be able to put me in a home almost two years earlier than I originally expected to. My credit score has jumped over 60 points in the last 6 months to a very respectable level and now when I apply for a mortgage...I will be able to name my price. So file this e-mail in the happy customer section and I will refer anyone with less than perfect credit to your services it has made a world of difference for me!!!! Thanks again!!!!” — C.R., Lexington client*

“I am very impressed & pleased with your service. Also, a side note, that about a month ago I moved into a new apartment where as usual, they checked my credit... thanks to your help, I got in. That would not have happened before. Thanks again. Have a super day!!!!” — T. Willson, Lexington client*

“Thank you for your service. I have had great results from the work you have done on my behalf. I had been warned not to use any credit repair company, but after some research I decided to give Lexington a try. The results have been better than expected. Several items have been deleted from my credit report and more inportantly my FICO® score has dramatically improved. I was recently approved for 'best rate' financing on a new car and a home construction loan. Thanks.” — B.K., Lexington client* Visit Lexington Law Advocates today