Sued by Cach LLC? Everything you should know

Cach LLC Company Overview

Cach LLC was founded on the 30th of March 2005 in Denver, Colorado, and is owned by SquareTwo Financial Corporation. It is one of the biggest debt buyers in the United States.

Debt buyers essentially buy debts from certain Companies or Financial Institutions at a much lower price than the actual value of that debt. What that means is, if Client A owes Company B an amount of $100,000, a Debt Buyer would sweep in and buy that debt for something much lower, at let's say $60,000. Company B realizes a loss of $40,000, but at least has collected the $60,000 instead of being dragged to court for a long period of time. It's also important to note that Financial Institutions usually want to avoid adverse media about court battles with people who cannot pay their debts as it can damage their reputation.

The debt buyer on the other hand, will employ various tactics in order to retrieve as much as they can of original value of the debt, that being $100,000 in the example above, and therefore make a profit. As debt buyers have a specific purpose, which is that of collecting debt, they are not really bothered about having a bad reputation. On the contrary, they actually strive when they have bad reputations as it can drive fear into debtors in order to pay off their debts.

Cach LLC Bankruptcy

On the 19th of March 2017, Square Two Financial Limited filed for bankruptcy. As such, most of the companies subsidiaries and assets, were sold to Resurgent Capital Services. Although most clients were hoping that this bankruptcy would mean that their debts would be cleared, that didn't happen.

What did happen was that clients were unable to sue back Cach LLC for consumer violations. This includes violations such as the Massachusetts Consumer Protection Act, known as Chapter 93A, or Fair Debt Collection Practices Act. The reason for this is that courts do not allow anyone who files for bankruptcy to be sued.

Despite the above though, as mentioned below in the Tactics section, Cach doesn't really do debt collecting itself. It outsources debt collection to other companies such as Resurgent who either handle claims directly or outsource even further. Clients are therefore still eligible to sue the Debt Collectors themselves if they believe that the tactics they are undertaking are unlawful and out of order.

Cach LLC Lawsuits and Tactics

Cach LLC has focused mostly on acquiring credit card debts. The company is known to be extremely aggressive when it comes to debt collection by hiring law firms and third party debt collectors whose aim is to collect as much of the debt as possible.

Debt collectors usually use all methods they can to retrieve a debt, ranging from nonstop telephone calls, lawsuit threats, and even showing up at your house. These are all aggressive tactics that actually work in scaring people into paying their debts.

Cach specifically tries to collect its debt portfolio through two different models:

Debt Collection: There are many reports on companies such as Resurgent and Fresh Start, which are contracted by Cach LLC in order to collect debts.

Litigation Collection: Cach is very well known to immediately sue people in order to collect their debt,as people fear the burden of attorney costs in addition to the actual debt to be paid.

Steps to follow if you've been sued by Cach LLC

If you've been already sued by Cach LLC, chances are that the company has sued you for the amount of debt you owe, as well as additional interest for late payment and attorney plus court fees. Such a lawsuit would be delivered to you in person.

It is important to note that the next steps are crucial. If you do not respond to the lawsuit, it is most likely that Cach will try to instigate a default judgement. This means that they may try to put a claim against your properties and assets, freeze funds in any bank accounts you have, or even legally seize your salary.

At this point you should clarify certain questions you may have to determine whether an attorney is needed or not. Have you already paid the debt they are claiming? Is the amount they are requesting correct?

It is important to note that debt collectors should be informed about your financial situation if you are unable to pay. You can both figure out a payment plan which won't affect your standard of living. There are a lot of people who managed to negotiate a reduced total debt than what they owed, along with a rather relaxed payment plan. The internet is full of such cases!

If however, your situation and the debt you owe is rather complicated, you should consider finding an attorney who has dealt with debt collectors in the past. As Cach LLC is well known in the US, it is very likely you may find an attorney who has handled previous cases with them, which will be very beneficial for you.

Cach LLC Contact Information and Complaints

The following Contact information is the most recent for the company:

Phone Number: 303-296-3345 / 1-888-665-0374

Address: 4340 South Monaco Street, Denver, CO 80237, United States

Website: https://cach-llc.com/

For Complaints, please visit the Better Business Bureaus and file a complaint directly with them.