Letter from Cavalry SPV I, LLC

[Anonymous]

If I decide not to anything about this, what are the likely change that they can take me to court?

I'm hearing some people say that unless you have that kind of money in the bank, just wait for SOL to pass...

[Anonymous]

Guys,

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I received the following from Cavalry:

Dear XXXX:

Based upon our contact on 7/30/2016, the following payment arrangement has been established.  The terms of this arrangement are as follows:

Individual Payments(s)

08/31/2016 $12766.84

All agreed upon payments must be received by their due dates and until the oustanding balance has been paid.  Once full payment has been received and the funds have cleared the banking system, this account will be closed with no further obligation.

Please note we are not obligated to renew this offer.

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I noticed that they added this account to all 3 credit bureaus and it does their letter does not state that they would remove the account from the bureaus.

What should I do?

Thank You

[Anonymous]

I had an account with them that I paid in full. The amount was only about seven hundred and something dollars, but when it was all said and done, the trade line was removed. They said they wouldn't delete, but they sent me a survey about their services and asked my opinion and I responded that I would be satisfied if they removed the trade line and they did. With such a large amount you don't want to run the risk of them suing for the balance.

[Anonymous]

so it turns out I won't have the funds to pay them in full.

what should I do now?  Should I call them and arrange payments.  I need to do this by tomorrow.

please help.

Thank You

[bourgogne]

what is the DOFD and what state are you in?

[Anonymous]

I am unsure what the DOFD is.  The current state is that I sent a PFD but it turns out that I will not have the money to pay the account in full.  They want the entire amount tomorrow.  I am unsure what to do now...

This is what they last sent me after I sent the PFD:

I received the following from Cavalry:

Dear XXXX:

Based upon our contact on 7/30/2016, the following payment arrangement has been established.  The terms of this arrangement are as follows:

Individual Payments(s)

08/31/2016 $12766.84

All agreed upon payments must be received by their due dates and until the oustanding balance has been paid.  Once full payment has been received and the funds have cleared the banking system, this account will be closed with no further obligation.

Please note we are not obligated to renew this offer.

[bourgogne]

when was the first time it was late and not brought current.  meaning can they sue you now.  when is this from?

http://ficoforums.myfico.com/t5/General-Credit-Topics/DOLA-DOFD-SOL-AHHHH/td-p/13384

[Anonymous]

date of last payment was Oct 07, 2013.  I am pretty sure they can still sue me, which I am very worried about.

the account was actually closed by Citi on Oct 10, 2012.

[Anonymous]

Anyone else that can offer advise?

Thank You

[bourgogne]

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@Anonymous wrote:

Anyone else that can offer advise?

Thank You

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advice.  what kind are you looking for, you know all the facts.  if you cannot figure out if they can sue you based on the links then you don't stand much of a chance dealing with them on any level imo.  read and get smart on your options.  you cannot pay.  they will not pay for delete even if you could.