Cavalry Portfolio Services is a debt collection agency that works for a wide range of clients, primarily focusing on collecting debts related to consumer credit accounts. They don't publicly list every single client, as this is considered proprietary business information. However, we can paint a picture of their typical clientele based on industry knowledge and public information.
Cavalry Portfolio Services' primary revenue stream comes from purchasing portfolios of delinquent debt from original creditors. These creditors are often large financial institutions and companies that originally issued the debt. This means they don't directly collect for individual businesses or small-scale lenders on a regular basis.
Here's a breakdown of the types of clients Cavalry Portfolio Services likely collects for:
Types of Clients for Cavalry Portfolio Services
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Major Banks and Credit Unions: These large financial institutions often sell off portfolios of charged-off debt to agencies like Cavalry to avoid the expense and complexity of in-house collection. This is a common practice for minimizing losses on delinquent accounts.
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Credit Card Companies: Similar to banks, credit card issuers are significant sources of debt portfolios for debt buyers like Cavalry Portfolio Services. Unpaid credit card balances represent a major portion of consumer debt.
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Finance Companies: Companies that provide loans for specific purposes (e.g., auto loans, personal loans, student loans) frequently sell off delinquent accounts.
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Healthcare Providers: While less common than the above, Cavalry might also handle collections for medical debt that has been sold to a debt buyer.
What types of debts does Cavalry collect?
Cavalry Portfolio Services primarily focuses on collecting consumer debt. This includes a broad range of debts, such as:
- Credit card debt: This is likely the largest segment of their portfolio.
- Personal loans: Unpaid balances from personal loans issued by banks or finance companies.
- Medical debt: Though not their primary focus, they may collect on medical bills purchased from healthcare providers.
- Retail debt: Debt accrued through store credit cards or other forms of retail financing.
- Student loan debt: While less prevalent than other types of debt, it is possible for Cavalry to collect on this debt, although this is often handled by government agencies or specialized debt collectors.
It's important to remember that Cavalry Portfolio Services only collects on debt after it has been purchased from the original creditor. They are not directly employed by the original lender to collect. They acquire the debt and then pursue collection efforts.
Disclaimer: This information is for educational purposes only. It is not legal or financial advice. If you have questions about a specific debt collection attempt, you should contact the debt collector directly or seek legal counsel.
