If you have heard from CACH LLC recently, they are likely pursuing you for an unpaid debt.
This means that they have either been hired by your old creditor or have acquired the debt from them to profit on your payments, however, they rarely pursue the debts themselves.
Even though they are debt buyers, they typically seek out third-party debt collection companies when pursuing debt settlement.
Either way, CACH LLC will need to open a collections account on your credit report in order to legally pursue payment. This can mean trouble for your credit score.
Check out our in-depth guide to learn more about CACH LLC and how to remove them from your credit report.
What is CACH LLC?
CACH LLC, under the parent company SquareTwo Financial, is a medium-sized debt collection agency that is headquartered in Greenville, SC.
Founded in 2005 in Denver, Colorado, they specialize in debt collection on behalf of financial institutions, though they outsource to Resurgent Capital Services who’s phone number is (888) 665-0374.
They typically buy debts from financial institutions (credit card debt) such as Capital One or Bank of America.
While CACH LLC is a legitimate debt collector, this does not make them popular among their customers.
They have accrued 103 complaints with the Consumer Financial Protection Bureau (CFPB) and 43 complaints with the Better Business Bureau (BBB) for things such as harassment, inaccurate reporting, and failure to validate debt information, all in violation of consumer protection laws in the United States.
If you experience similar treatment, you can file a complaint as well.
Steps to Remove CACH LLC from Your Credit Report
Here are the essential steps to take to remove a CACH LLC collection entry from your credit report.
Ask for a Goodwill Deletion
If you have already paid the debt, there is a chance that you can get the entry deleted.
You can try requesting a goodwill deletion from CACH LLC to have them remove the entry with little hassle.
A goodwill deletion means that CACH LLC will remove the collection entry from your credit report out of benevolence.
This method typically only works if CACH LLC can see that the collection is a one-off event.
Usually, the debt will have to be paid, and you must be up to date on your payments to show that this was a blip on your record.
To request a goodwill deletion, write a letter to CACH LLC explaining why you were late on your payments in the first place and why you would like the entry removed.
If you had extenuating circumstances, such as a job loss, this is good to mention. It creates a narrative and may inspire sympathy from CACH LLC.
One of the most important things to remember when crafting your goodwill deletion letter is to be polite.
If you write to CACH LLC demanding that they remove the entry, they are going to be less likely to grant you your request.
Write a Debt Validation Letter
If you haven’t paid the debt or have been denied a goodwill deletion, you should request debt validation from CACH LLC.
This is a way that you can get the collection entry deleted on a technicality.
Under the Fair Debt Collection Practices Act (FDCPA), you have a right to request that a debt collector verify that the debt belongs to you before you make any payments on it.
This law also lays out a statute of limitations to pursue the debt.
This is because it is common for information about the debt to get misconstrued when it is transferred from the original creditor to the debt collector.
It is essential that you validate the debt before you make any payments on it. Otherwise, you could be footing the bill for someone else’s debt.
This step is time-sensitive, so it is best to do this as soon as possible no matter what the status of your debt is.
To request debt validation, you will need to write a debt validation letter.
This is a letter that asks CACH LLC to confirm certain details of the debt, such as the name, date of debt acquisition, and total amount.
Once CACH LLC receives your debt validation letter, they are required to respond to it. They should come back to you with various documents meant to prove that the debt belongs to you.
Once you receive these documents, be sure to parse through the details and look for any inaccuracies.
If you see anything that does not match up, file a dispute with the three major credit bureaus and demand that CACH LLC close the account.
Make a Pay-For-Delete Agreement
If the debt does indeed belong to you, your next step is to negotiate a settlement with CACH LLC.
The most common type of settlement that customers make with debt collectors is a pay-for-delete agreement.
A pay-for-delete agreement is when CACH LLC agrees to delete their entry from your credit report in exchange for payment on the debt.
Sometimes, debt collectors are willing to accept less than the full amount because they may have purchased the debt for pennies on the dollar.
However, this will require some negotiation on your part.
Start by offering to pay CACH LLC half of the total balance of the debt. Work with them to come up with a reasonable solution that works for both of you.
Once you get the terms of the agreement in writing, make your first payment to CACH LLC. Never allow them direct access to your bank account.
After 30 days, check your credit report to see if CACH LLC still appears as an entry.
If they do not, continue to make payments until you have paid the full, agreed-upon amount.
If CACH LLC is still on your credit report, reach out to them, and remind them to uphold their end of the deal.
Hire a Credit Repair Company or Law Firm
If you aren’t gaining ground with CACH LLC, you can always hire a credit repair company to remove the entry for you.
A credit repair company specializes in identifying and removing any negative entries on your credit report.
They can also review your overall financial habits and help you improve your scores through better money management skills.
When looking for a credit repair company, it is important to work with a reputable company.
I like to recommend Credit Saint to those looking for a trustworthy credit repair company.
They have helped their customers clean up their credit report and boost their score for years.
They understand the industry inside and out and use their knowledge to help you get your financial goals back on track.
Based on the detailed customer complaints, CACH employs severe legal avenues to collect, including hiring a collection attorney to file debt collection lawsuits or default judgments that oftentimes include the original debt, late fees, and attorney fees.
The most popular question we receive is, “Can a debt collector file a default judgment against me or garnish my wages?”
The answer is yes. To protect yourself from wage garnishment or any other collection attempts, seek out a debt relief law firm that specializes in chapter 7 bankruptcy and debt settlement.
Keep in mind that contacting a law office does not immediately create an attorney-client relationship. You must retain them for it to take into effect.
Dealing with CACH LLC
Collection accounts are a black mark on your credit report. They can remain on your report for up to seven years, even if you pay the debt.
Future lenders can see them and make loan decisions based on the fact that you failed to pay a debt.
The only way to reduce the impact of a collection account is to remove them altogether.
If you are unsure how to remove CACH LLC from your credit report, you are not alone. Thousands of people are able to successfully clean up their credit report, and you can too.
Dealing with debt collectors requires patience and tenacity. They are difficult to deal with, but they can be reasoned with if you know what to ask for.
By following the steps outlined above, you can prevent harassment from CACH LLC and reduce their impact on your credit score.
As a general disclaimer, the information in this article is not meant to substitute as legal advice.
Please seek legal counsel with a legitimate law office or law firm should your situation warrant it.
We’ve read in many customer complaints, CACH LLC will routinely seek out Mandarich Law Group on behalf of CACH when pursuing debts in the state of New York, pointing towards their aggressive tendencies.