If you are unfamiliar with Cavalry SPV I, LLC, you may be stressed and confused when you receive notice that it is suing you. You may also believe the lawsuit is a scam and ignore it, but Cavalry SPV I, LLC is legit. Below, we explain what you should know about Cavalry SPV I, LLC, and your potential options if dealing with a Cavalry SPV I, LLC lawsuit.
What Is Cavalry SPV I, LLC?
Cavalry SPV I, LLC is not a creditor or lender. That is why you may not recognize it. It is a national debt buyer and collector, also known as Cavalry Portfolio Services, LLC, and Cavalry. Cavalry describes its services as acquiring and managing non-performing consumer loan portfolios. This description is a lofty way of saying it purchases charged-off debts from creditors and then pursues the debt from debt holders.
Creditors may sell debt they have not been able to collect and do not anticipate collecting to companies like Cavalry SPV I, LLC. Creditors sell these old debts, which may include credit card debt and personal loans, for a fraction of the debt amount. Then, once the debt buyers own the debt, they seek the total debt from debt holders.
Debt buyers often use litigation to pursue debt collection. Is Cavalry Portfolio Services threatening a lawsuit against you, or is it already suing you? If so, it may mean Cavalry bought an unsettled debt from your creditor and believes you owe it money.
Who Represents Cavalry SPV I, LLC?
Cavalry uses two law firms that handle most of its debt collection cases in Texas – Jenkins & Young, P.C. and Javitch Block LLC. Jenkins & Young, P.C. is located in Lubbock, Texas. Javitch Block LLC’s primary office is in Cleveland, Ohio, but it has an office in Richardson, Texas.
Both law firms concentrate on debt collection. They have significant experience pursuing debt on behalf of their clients. If you hear from one in a Cavalry SPV I, LLC lawsuit, we recommend having an experienced North Texas debt defense lawyer to defend you and protect your best interests.
What Happens if You Don’t Respond to a Cavalry Lawsuit?
Unfortunately, many consumers ignore lawsuits from debt buyers like Cavalry out of fear, lack of funds, or believing it is a scam. Debt buyers hope debt holders dismiss these lawsuits because it likely means an easy win for them. We cannot emphasize how important it is to respond to the lawsuit.
If you do not respond to a Cavalry lawsuit, the court may grant Cavalry a default judgment. A default judgment means the court rules in Cavalry’s favor and legally entitles Cavalry to the money it alleges you owe.
With a default judgment against you, the court may allow Cavalry SPV I, LLC to obtain the money in the following ways:
- Bank or investment account garnishment
- Wage garnishment (for some out-of-state default judgments)
- Property lien
- Property seizure
How to Deal With Cavalry Portfolio Services
You must file a written response to Cavalry SPV I, LLC’s lawsuit before the deadline to prevent a default judgment. Your response must follow Texas legal procedures. You must also submit it to the court and send a copy to the plaintiff.
The deadline to file your answer differs depending on which court is handling your case. For example, if sued in Justice Court or small claims court, the deadline is as short as 14 days. The deadline for District Court or County Court is as short as 20 days.
We recommend working with an experienced attorney to help you file your answer and handle your case. You should address each allegation against you, provide defenses, and demand debt validation. More importantly, it should sway the court to your side. Our debt defense lawyers have extensive experience defending consumers against debt collection companies. We can draft and file an effective response to Cavalry SPV I, LLC’s lawsuit for you.
See our guide for more information about how to respond to a court summons.
What if the Deadline for Filing My Response Has Passed?
If the deadline has already passed, we recommend discussing your situation with a debt collection defense attorney immediately. Even if the deadline has passed, you can file a late answer if the case is still pending. If the case is finished, your attorney can determine your best legal options and advise you about moving forward.
What Are My Options if Cavalry Portfolio Services Sues Me?
The unique circumstances of your situation will determine your best options to move forward. They may include:
Fight the Lawsuit
You may have viable defenses to Cavalry’s claim to get the case dismissed. For example, creditors and debt collection companies have four years to bring a debt collection lawsuit in Texas. If the statute of limitations has expired, Cavalry SPV I, LLC cannot sue you to obtain the debt.
Another defense may be that Cavalry cannot prove you owe it money. Our debt defense attorneys will investigate the validity of Cavalry’s claim for weaknesses to strengthen your defense. You can learn more about other potential defenses to debt collection lawsuits here.
Negotiate a Settlement
If Cavalry SPV I, LLC can prove it owns the debt, you owe it, and it has the right to sue you to collect it, negotiating a settlement may be a good option. Cavalry may be inclined to settle because settling is less costly than litigation. Additionally, you may be able to negotiate a settlement that is less than the total debt.
Explore Other Debt Resolution Options
You may have other options to handle Cavalry Portfolio Services and the debt. For example, bankruptcy may be a favorable option if the debt is too much to handle. A debt defense attorney can help determine whether you have other debt resolution options.
Schedule a Consultation With Warren & Migliaccio to Discuss Your Situation
Contact our attorneys if you are dealing with Cavalry Portfolio Services and a debt collection lawsuit. Our firm has a track record of success defending our clients from creditors and debt collectors. We are happy to review Cavalry’s case against you and help you determine your next steps. Fill out our online contact form or call our office to request your consultation today.