If you’re struggling with a collection account reported by Cavalry Portfolio Services, don’t worry. There are strategies to remove it from your credit report and potentially increase your credit score. In this blog post, we’ll go over everything you need to know about Cavalry Portfolio Service and how to remove their negative impact from your credit report.
What is Cavalry Portfolio Services?
Cavalry Portfolio Services is a debt collection agency that purchases or services delinquent debts from creditors. They are a 3rd party that attempts to collect these debts. They can report delinquent accounts to credit bureaus, which can result in a collection account being added to your credit report. This can have a negative impact on your credit score and make it difficult to obtain credit in the future.
How to Verify a Collection Account with Cavalry Portfolio Services
The first thing to do when dealing with Cavalry Portfolio Services is to verify the debt they are collecting. The Fair Debt Collection Practices Act (FDCPA) gives you the right to request written verification of any debt being reported on your credit report. First, mail this debt validation letter template to the Cavalry Portfolio Services:
Cavalry Portfolio Services
Attn: Customer Care
1 American Lane
Suite 220
Greenwich, CT 06831-2200
This debt validation letter will ask the collection agency to mail you written proof that you owe the debt they’re collecting. If they cannot provide this proof within 30 days, they must remove the debt from your credit report.
How to Dispute your Cavalry Portfolio Services with the Credit Bureaus
1 in 3 credit reports contain errors. These inaccuracies can be disputed with the credit bureaus. They will then investigate the account and, if they find that it is indeed inaccurate, it could be removed from your credit report completely. Removing an inaccurate collection account could improve your credit score by as much as 100 points!
To dispute your Cavalry Portfolio Services Collection account on your own, mail this free collection dispute template to each of the three credit bureaus. Don’t have the time? Download the Cambio app and we’ll take care of it for you.
Here are some best practices when sending a dispute letter to the credit bureaus:
– Only dispute items you believe are inaccurate.
– Send your dispute via mail. This is because letter disputes are processed differently than online disputes.
– Add any copies of evidence that support your dispute. This could include receipts, police reports, etc.
Negotiate a Pay to Delete with Cavalry Portfolio Services
If either of the above strategies are unsuccessful, you can try what’s called a pay to delete. This involves negotiating with your creditor to have them remove the account from your credit report upon payment. Finally, ask for any agreement in writing before making any payments.
Download our free Pay to Delete PDF Template to do this strategy on your own. Want us to do this for you? Download Cambio today!
Now, here are some best practices when negotiating a “Pay for delete” with a collections agency:
– Do not agree to a payment you cannot afford
– Do not admit ownership of the debt
– Make sure you get a signed agreement letter from the collection agency before making any payments. Otherwise, they have no legal obligation to remove the debt upon payment.
How to Use Cambio to Dispute or Negotiate a Pay to Delete with Cavalry Portfolio Service
Cambio is a mobile app that can help you remove negative items from your credit report and improve your score. You can use Cambio to monitor and dispute collection accounts, negotiate pay to delete agreements, and more.
What to Do If Collection Agencies Violate Your Rights
Cavalry Portfolio Services is required to follow the Fair Debt Collection Practices Act (FDCPA). If they violate your rights under this law, you can report them to the Federal Trade Commission (FTC). Make sure you know your rights and how to protect yourself from illegal collection practices.
Conclusion
Removing a collection account reported by Cavalry Portfolio Services might seem overwhelming, but it is doable. Follow the steps outlined in this post and use Cambio to improve your credit score and get back on track. Don’t let Cavalry Portfolio Services’ negative impact on your credit hold you back – take action today and protect your financial future.
