Cavalry CollectionsPortfolio Services in Phoenix has been trying to collect on an invalid expired debt that is 8.5 years old, 2.5 years beyond the AZ statue of limitations to collect or sue on a debt (6yrs) and off my credit report. When I advised the guy that the legal limitations in AZ to collect or sue for debt are no longer valid, he responded with "what are you a lawyer", I said no just an infomed educated consumer! He laughed and hung up. A week later I got a letter form Cavalry stating that they will sue me, I presented the letter to a lawyer friend and he laughed, stating that Cavalry uses scare tacticts to collect on debts that are old and invalid and where the statue of limitations for them to legally collect or sue have expired! He stated that they would have had to legally (in Arizona) sue me no later than August 30th of it is now October! The original period where they could have sued was August he stated that they could never attempt to collect the debt and that they always use these types of tactics to try to collect on expired limitations of debt, they prey on the uninfomed or uneducated. The sad thing is that I attempted to negotiate with the original creditor in 2003 (prior to Repo) asking them to reduce my car payments by just 100.00 per month for 6 months and add the 600.00 onto the end term of the loan, But Chrysler refused to work with me!
Dont pay cavalry anything until you have researched and done your homework!
Always check with your states statue of limitation for debt before paying anything! Most states seem to be around 6 or 7 years but a few like RI, LA, OH are as many as 15 years, so where the debt comes off your credit report, the creditors or collections agency can still sue you in those states.
This link is pretty good for determing the statue of limitations:
Http://www.creditinfocenter.com/rebuild/statuteLimitations. Shtml
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