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How to Settle Debt with Cavalry SPV

Sarah Edwards | January 13, 2025

Sarah Edwards
Legal Expert
Sarah Edwards, BS

Sarah Harris is a professional researcher and writer specializing in legal content. An Emerson College alumna, she holds a Bachelor of Science in Communication from the prestigious Boston institution.

Edited by Hannah Locklear

Hannah Locklear
Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

Summary: If you’ve been sued by Cavalry SPV, you can settle the debt at any stage of the debt lawsuit process. To settle a debt with Cavalry SPV, you should respond to your pending lawsuit with an Answer, determine how much you can pay off in a lump-sum, send a settlement offer, and get the settlement agreement in writing. SoloSettle can help you settle your debt with Cavalry SPV for less.

Are you getting calls from a company known as Cavalry SPV? Are you clueless about who this company is or how it got your information? If so, you’re not alone.

Cavalry SPV is one of the nation’s largest debt purchasers in the United States. They regularly purchase old obligations from large banks and creditors, including Wells Fargo and CitiBank.

Creditors often sell old, unpaid obligations to debt collectors like Cavalry SPV. The debt sale generates some income for them, even if it’s significantly less than what the debtor owes. Selling also allows creditors to avoid the cost of collection activities, which can quickly add up and yield little return.

Cavalry SPV is one of those debt collectors. The group’s subsidiary, Cavalry Portfolio Services, LLC, performs most of its debt collection activities. Wondering how to settle a debt with Cavalry SPV? Here are your options.

Ask Cavalry SPV to validate your debt

It sounds simple, but many people don’t take the time to require debt collectors to validate their debts. By law, all debt collectors must send consumers a letter introducing themselves and outlining the fundamental rights that they have concerning their financial obligations.

One of the most basic rights that the Consumer Financial Protection Bureau (CFPB) provides is the ability to request verification of a debt. Under current law, consumers have up to 30 days to ask a debt collector for proof that they owe the debt and that the debt collector retains ownership of the obligation.

Consumers can ask Cavalry SPV for specific details to validate the debt, including:

  • Proof that the consumer owes the debt
  • The current amount of the debt
  • Last transaction made by the consumer concerning the debt
  • The calculation for the statute of limitations on the debt
  • Cavalry SPV’s debt collection license for their state

Once you submit your debt validation letter, Cavalry SPV can no longer pursue any collection activity against you until they provide you with the proof you request. You can also ask Cavalry SPV to report to collection bureaus that you’re disputing the debt.

Sometimes, Cavalry SPV won’t have the information needed to prove you owe the debt. In that case, you’re not likely to hear from them again. Remember that debt collectors often purchase old accounts by the thousands. Creditors don’t always provide enough supporting details for the collection agency to validate all the obligations they buy.

If Cavalry SPV validates the debt, you’ll need to turn to other methods to resolve the issue.

Check out the video below to learn how sending a Debt Validation Letter can benefit you:


Propose a payment plan with the company

If Cavalry SPV can validate your debt and the statute of limitations hasn’t passed, you have a few options. One is to work out a payment plan with the company if you can’t pay the obligation in full.

You’ll want to protect your payment details from Cavalry SPV if you set up a payment plan with them. Some debt collectors arbitrarily debit consumers’ accounts when they have their payment information on file.

If you want to set up a payment plan with Cavalry SPV, tell them what you can afford to pay monthly to resolve the debt. Ideally, you’ll want to put more toward resolving the debt than the minimum amount specified in your payment plan, but an agreement protects you from matters escalating further.

Once you establish your payment plan, use a prepaid debit card or similar tool to make monthly payments. The prepaid card should be separate from your regular bank account, and you should only transfer enough money to cover your regular payments. That way, Cavalry SPV can’t charge your card for cash you don’t have.

Settle your debt with Cavalry SPV before going to court

If Cavalry SPV files a lawsuit against you to collect an old debt, you’ll need to step up your defense.

First, reply to their Complaint with an Answer. Your Answer should address all their grievances with your responses. Mail your Answer to Cavalry SPV and the court that has jurisdiction over your case.

While the goal is to settle your credit card debt before your court date, filing an Answer protects you from the potential of a default judgment. The judge must read your Answer and allow you time to present your case if you can’t settle the debt before the court date.

Next, you’ll want to determine the amount you can afford to pay Cavalry SPV in a settlement. Ideally, you’ll want to offer at least 60% of the total obligation. For instance, if you owe $1,000, you’d offer Cavalry SPV $600 to settle the debt.

How do I start the negotiation process with Cavalry SPV?

Send Cavalry SPV the following message via email:

"I see you’re suing me for [$1,000] for [case number]. I don’t have that kind of money and I don’t agree with the amount. But I do have [$600] that I can pay within 30 days to settle the debt in full. Let me know if you accept.”

It will then just be a matter of waiting to hear back, as the company may need a few days to consider your offer. They’ll likely attempt to negotiate with you, so you may go through several rounds of emails before reaching a final agreement.

Once you have an agreement, make sure you get it in writing. You can refer to it if Cavalry SPV tries to come after you for the debt again. You’ll also want to make all of your payments per the agreement. If you don’t abide by its terms, the company can resume its collection activities, which may include another lawsuit.

SoloSettle takes care of the debt settlement negotiation process for you.

Settle with SoloSettle

Make an Offer

Let’s take a look at an example of how to settle a debt with Cavalry SPV:

Example: Justin is being sued by Cavalry SPV for an old credit card debt. He uses SoloSuit to respond to the lawsuit, giving himself time to work out a debt settlement. After doing some investigating into his debt, analyzing his finances, and researching previous debt settlements involving Cavalry SPV, Justin determines he can afford to settle the debt at 75% of the original amount. He uses SoloSettle to send and receive settlement offers to Cavalry SPV. In his initial offer, Justin states he can pay off 40% of the debt. This gave him room to negotiate, and after a few rounds of counteroffers, Cavalry SPV accepts a settlement at 60% of the debt.


SoloSettle can help you settle your debt with Cavalry SPV

SoloSettle, powered by Solosuit, is a tech-based approach to debt settlement. Our software sends and receives debt settlement offers on your behalf and helps you negotiate the best deal for your circumstance. Once an agreement is reached, SoloSettle helps you manage the debt settlement agreement documentation and forwards your payment to Capital One for you, helping you protect your personal financial information.

Check out this review from a real SoloSettle customer:

“I'm very thankful for SoloSettle. Having a third party negotiate the settlement was instrumental in resolving this case and saved me from two giant headaches: 1) I didn't have to deal with the plaintiff's lawyer and 2) I didn't have to go to court. I also love that the payment was processed through SoloSettle. I was nervous about sharing my personal financial data with the other side, but SoloSettle protected that for me. I hope I never get sued again, but if I do, I would use SoloSettle again in a heartbeat.”

Watch the video below to learn more about how to settle your debt with Cavalry SPV or any other debt collector:

What is Solo?

Solo makes it easy to resolve debt with debt collectors.

You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt. SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.

SoloSettle can help you contact your debt collector or creditor and negotiate the debt to settle for less, all online. It simplifies and streamlines the process to settling your debt.

No matter where you find yourself in the debt collection process, Solo is here to help you resolve your debt.

>>Read the FastCompany article: Debt Lawsuits Are Complicated: This Website Makes Them Simpler To Navigate

>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)

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