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youngandindebt
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Hello, i just signed up for this board as i recieved a copy of my credit report and want to begin to rebuild and repair my life. my first question is:

Calvary Portfolio Serv has showed up on my credit report with a balance of 2,265.00 owed with an account that i opened in June of 2002 with Associates Credit Visa Card. Now I fully admit to owning this card and being young and foolish and not paying it off very well at all.

i took the Calvary contact # found on this site and called and heres what happened:

i called and spoke with Anthony at x1457 and asked him if he could help me clarify what this debt is. He asked for my SS# and i refused it but gave my name and the last 4 digits only of my SS#. He then told me it was the Associates Visa and that the balance is 2,298.00 as of today. He said i can settle for 1800.00 or make monthly pmts of around 80.00. I then asked for a DV letter and for him to place everything we just went over(the lump settlement and monthly pmt options) into writing and mail them to my address. I then gave them my brothers address which i am using as my permanent mailing address right now as i am inbetween moves and temporarily living elsewhere but close enough to get my mail.

he told me all of my requests will be sent out possibly in seperate letter and should arrive within a week.

so my questions are:

how did i do?

and what is my next step?

Thank you in advance for all of your help!

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I'll be REAL surprised if you get anything from Calvary except another demand for payment in full.

You never ask for validation of the phone, do it all in writing.

You also should not mention validation - which means they have to prove the debt, then in the same breath say you'll pay it, you're defeating the whole purpose of validation.

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ok so if i do get another letter from Calvary i should request in writing the DV?

im guessing the chances are slim to none that they will actually send the DV like they said?

i really just want to get rid of it as quick as possible so if i can just verify that this is my old visa debt then id like to pay it and have it reported as paid.

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You definately need to starting reading everything you see on this site as fast as you can.

Sounds like you are about to make the SAME mistake I did. And thats just paying the debts. If you have delinquent bills, you can get either get them to slip up legally, getting them off your credit for nothing. Or at least get them off your CR by paying them with an agreement to do so.

Get reading!

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Most likely you will not get anything from them, but good news. If you do not receive you statement of rights within 5 days from first contact, you have your first violation. Give them 10 days to send you something, then DV them (they will ignore it) and once you have the green card back dispute it with the CRAs (It will be verified). Then you will have 2 violations, continued collection and FCRA for not listing in dispute. In no time at all you will have Cavalry owing you.

I am in a simular situation and just have to get my complaint together so I can send it along with my ITS letter.

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I have found the best way to get rid of Cavalry is to give them enough rope to hang themselves, and they will. Meaning violate violate violate. Pretty soon you will have them on more violations than the debt is worth. Make sure you send 3 DV's (looks like YOU are acting in good faith) and then complain to the ACA. http://www.acainternational.org/ Collectors have their own *watchdog*. :twisted:

oh and the FTC. But make sure you keep records. They will deny any wrong doing.

I have Arrow in this situation. They just keep ignoring my DV letters and I filed with ACA. I recived another "settlement" offer today I can settle my Zombie Debt for 65%! WOW. They are going to let me pay 65% of a debt they only paid about .02 on the dollar for! What Pals!

I'll be faxing it over to ACA tonight.

:twisted:

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Young, FYI, there is almost no difference between a paid CO and an unpaid one. It makes no difference to your FICO, so I wouldn't pay squat unless they can validate it AND they promise in writing to remove it.

Don't talk to them over the phone and don't promise to pay anything, unless they validate first AND agree to remove the negative info.

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  • 1 year later...

i just looked up my credit report and saw that cavalry portfolio has me owing them $472. i dont know where this debt came from and have no way of contacting them. can anyone help me in anyway to find a contact mailing address or phone number. thanks alot.

marcus

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Eventually Academy and Portfolio will go away. Make sure you word your DV strongly and ask for a full accounting of the alleged disputed debt from its inception to the date of their most current demand letter. Make sure you ask that it be certified by a Notary to attest to the accuracy of the accounting by someone with 1st hand knowledge of the account.

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