Don't ever doubt the power of filing a complaint against a collection agency through CFPB.
I filed a complaint after numerous disputes through the CRA's. Here is their reply to my online complaint....
Dear Sir or Madam:
Thank you for giving Cavalry Portfolio Services, LLC ("Cavalry") the opportunity to respond to this complaint.
In the complaint, Mr. Xxxxxxxx alleges that Cavalry purchased a debt from HSBC that he did not owe; that Cavalry reported inaccurate information to the credit reporting agencies regarding Mr. Xxxxxxx's account; and that Mr. Xxxxxxxx disputed the debt.
Cavalry investigated the allegations and responds as follows:
By way of background, on or about December 6, 2010, the underlying account was opened with HSBC Bank Nevada, N.A. The account was branded as an Orchard Bank credit card account. On or about September 30, 2011, the account was charged off. On or about October 20, 2011, a Cavalry affiliate acquired Mr. Xxxxxxx's account.
As a data furnisher, Cavalry reports information regarding customers' accounts to the credit reporting agencies. Mr. Xxxxxxx. disputed his account. In response, Cavalry marked the account to reflect the dispute and requested that the credit reporting agencies update Cavalry's tradeline to reflect the disputes. Based on a review of credit reporting records regarding Mr. Xxxxxxxx's account, Cavalry reported accurately.
On or about November 2, 2011, Cavalry sent Mr. Xxxxxxxx the notice required under 15 U.S.C. 1692g which requires that consumers be provided notice of their rights. The notice was not returned as undeliverable. Cavalry did not receive a request for validation from Mr. Xxxxxxxx during the thirty-day validation period.
Cavalry received Automated Consumer Dispute Verifications ("ACDV") submitted to the credit reporting agencies regarding Mr. Xxxxxx Cavalry account. In response, Cavalry investigated the disputes and verified the information provided. Cavalry sent timely responses to the ACDVs. Additionally, Cavalry requested that the credit reporting agencies update Cavalry's tradeline to reflect the disputes.
In the interest of customer service, Cavalry closed Mr. Xxxxxxx account and permanently terminated collections on the account. Further, Cavalry requested that the credit reporting agencies delete Cavalry's tradeline from xxxxxxx credit report. Cavalry expects, but cannot guarantee, that the credit reporting agencies report accurately.
If your office has any further questions, please do not hesitate to contact Cavalry.
So, why do you think they caved? SOL? Bad debt? They couldn't prove ownership?
*Sits back and waits for score bump*
Rebuilding since April 2016... Total Credit Lines: $57,800...
Line of Credit: NFCU navCheck $5,000... Credit Cards: Citibank (Secured) $5,000... NFCU cashRewards Visa $2,900... Discover It (Secured) $2,500.... Cabela's Visa $2,000...Retail Cards: Crate & Barrel $8,000... Pottery Barn $5,600... West Elm $5,600... Grandin Road $3,000... Improvements $3,000... Overstock $2,700... Firestone $1,200... Care Credit $1,100... Speedway $1,000... Several others $100 - $500
Scores (4/16 to 8/16)
EQ: 568 --- 599// TU: 550 --- 633 // EX: 552 --- 625
