CACH LLC is a debt purchaser that typically buys up charged-off accounts from a number of different sources. Although its parent company has filed for bankruptcy, that alone will not make any judgments or lawsuits against debtors disappear. On the contrary, CACH LLC, or a company that has bought its accounts, can still collect on these debts. If you’re being pursued for unpaid debts, a lawsuit has been filed against you, or a judgment has been entered in court, you’re probably wondering how best to put CACH LLC out of your life.
Trust the Fullman Firm. We are skilled debt settlement attorneys with a thorough understanding of debtor protection laws and the tactics of creditors like CACH LLC. We can help bring you financial peace of mind by settling your debts for possibly much less than what you owe.
Key Facts About CACH LLC and Debt Settlement
Located in Denver, Colorado, CACH LLC is actually a subsidiary of Square Two Financial. CACH is a debt purchaser, meaning it buys charged-off accounts from credit cards, secured and unsecured loans, lines of credit, retail accounts, and checks. One portfolio of charged-off accounts was purchased from Bank of America’s FIA Services.
In 2017 Square Two filed for Chapter 11 bankruptcy protection in New York. However, a bankruptcy filing does not mean that judgments or lawsuits against debtors have gone away. Nor does it mean collection efforts on old CACH LLC debts will cease.
Many of the assets that Square Two previously owned have been bought up by other, similar companies. For example, a company named Resurgent Capital Service LP purchased CACH LLC and has begun collecting on their accounts. You may also want to know that in California, CACH LLC is represented by Mandarich Law Group, the Law Offices of David Sean Dufek, the Law Offices of Michael K. Sipes, and the Neuheisel Law Firm.
Will I Be Sued?
Because CACH LLC’s bankruptcy filing does not wipe out your debt, you can and likely will be sued by CACH (if you haven’t already been) or someone who has bought an account from it. Above are some of the law firms you may hear from in the litigation phase of CACH’s debt collection activities. So what can you expect from a lawsuit?
CACH, or someone who purchases the debt from this company, will file a complaint and summons. The complaint will contain details about your identity, the original creditor, what you apparently owe, and more. You need to review these allegations and notify a debt settlement attorney right away if any of them are false. The summons is the court paper that orders you to respond to the complaint. You will have 30 days to do so in most cases.
If you actually owe CACH, or a company that has purchased your delinquent account, there is little you can do as far as contesting the lawsuit. That doesn’t mean you should not assert any legal defenses you have. And it certainly doesn’t mean you should not dispute any errors in the complaint by filing your own answer. But assuming you legitimately owe the debt, and the company that has sued you has a rightful claim to collect on the account, the plaintiff will likely obtain a judgment against you.
Trying to dodge service or ignore the court papers won’t help your case. CACH (or whoever has sued you) can eventually effectuate service one way or another. And refusing to answer the complaint or appear in court allows the plaintiff to obtain a default judgment.
What Can CACH Do With A Judgment?
A court judgment entitles CACH, or whoever has bought the account from CACH, to actually collect on what it owes. This could include anything from wage garnishment to seizing your bank account to levying your property and more. Court judgments generally do not include just the amount of the underlying debt. You can also expect it to include interest, attorney’s fees, and court costs at the very least.
Why Should I Consider Debt Settlement with Cach LLC?
Whether you have been sued, a judgment has been entered against you, or you’ve received collection demands in the form of phone calls and letters, debt settlement is a viable option for you. Even when creditors obtain judgments against debtors, they know collecting is still an uphill battle. Put simply, it will take a considerable amount of time for the judgment creditor to collect everything you owe – if it ever does. For instance, there are limits in California to how much a creditor can seize from your bank account using a court judgment.
On top of this, creditors must pay people to go after you and enforce the court judgment. Someone has to find your bank accounts, find your property, and find your employer. You may work another job or have other property or have accounts at other banks. That will take time (and money) to hunt down as well.
With CACH in particular, the bankruptcy may offer some additional leverage. Whoever might have purchased your account has already paid money and will now want to collect whatever it can, while it can.
Debt settlement allows you to exploit these situations and make a one-time, lump-sum offer to settle your account for less than what you owe. CACH, or whoever has purchased its account, wants to get what it can from you. But they’re not going to admit this. In fact, if you deal with them directly, they will likely demand everything up to and including the judgment.
We Can Help With CACH LLC Debt Settlement
The Fullman Firm has an experienced team of lawyers and staff who understand that debt settlement is part process and part strategy. You need someone advocating for you who is familiar with debt purchasers and knows how to negotiate effectively with them.
Are you ready to settle your CACH LLC debt once and for all? Let the Fullman Firm help. Call today to learn more about how debt settlement can save you time, money, and stress.