Calvary Portfolio fined $15,000 by State of Arizona.

Discussion in 'Credit Talk' started by cap1sucks, Dec 27, 2008.

  1. cap1sucks

    cap1sucks Well-Known Member

    This article by the Jay Fleischman Law Center. Found it using tweetgrid from

    Cavalry Portfolio Services Punished For Trying To Collect From The Wrong People

    December 26, 2008

    cavalryDebt collector Cavalry Portfolio Services, LLC was examined by the Arizona Department of Financial Institutions in 2007. Apparently a lot of consumers had complained that Cavalry was trying to collect on debts that were not theirs.

    Mistakes happen, of course. So the consumers told Cavalry that they had the wrong people and to stop calling.

    Unfortunately, Cavalry did not conduct an investigation of the claim of misidentification or the dispute and continued to assert that a debt was legitimate and continued to contact various alleged debtors without conducting such investigation.

    The Arizona Department of Financial Institutions filed a Cease and Desist Order against Cavalry in September 2008. And finally playing it smart and deciding that it was best to avoid losing their license to do business in Arizona, Cavalry took its lumps.

    The Arizona Department of Financial Institutions ordered that Cavalry immediately stop the violations of the Arizona law . . . and immediately pay to the Department a civil money penalty in the amount of fifteen thousand dollars ($15,000.00).

    Good work, Arizona!

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