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CACH LLC is a buyer of charged off debt that filed for Bankruptcy on March 19, 2017. Just because they filed for Bankruptcy doesn’t mean a lawsuit or judgment goes away. Much of their assets were purchased by other debt entities. Specifically “Resurgent Capital Service LP” bought CACH out of Bankruptcy and is now pursuing their accounts. Resurgent also owns “LVNV Funding LLC“.
CACH may be showing up on your credit report or they may have served you with a lawsuit. CACH LLC filed thousands of collection lawsuits each year against consumers. CACH hired local collection attorney to file the lawsuit.
CACH relied on witness testimony in a “business record affidavit” when trying to prove their cases. It is important to fully understand the rules of evidence when attacking these affidavits and any documents attached. If you have a lawsuit or judgment with CACH LLC then you should take action to protect yourself.
CACH LLC was located at 4340 S. Monaco, 2nd Floor, Denver, Colorado 80237; however, this company is simply a shell corporation. In reality, CACH LLC was just a simple shell corporation owned entirely by Square Two Financial whose headquarters is located at 4340 S. Monaco, Second Floor, Denver, CO 80237 (Toll Free: 877-304-0146). Square Two Financial was one of the largest delinquent debt purchases in the United States. In 2013 alone, the company grossed over $100,000,000 in profits before going out of business in 2017.
According to information filed with the Securities Exchange Commission, Square Two Financial is owned by CA Holding, Inc. K.R.G. Capital Management, L.P. owns the majority interest in CA Holding, Inc. Why would a company, individual, or group of individuals go through this much trouble to disguise who actually owns CACH LLC? To protect the true owners of the company from liability due to unfair collection practices.
How Did CACH LLC collect debt?
CACH LLC purchased thousands of delinquent debts from credit card companies, medical providers, banks, cell phone companies, cable companies, personal finance companies, and other entities.
CACH LLC would then retain law firms to collect the full amount owed on each account. In addition to the amount owed on the delinquent account, CACH LLC will add interest, late fees, penalties, attorney’s fees, court costs, and any other fees that the company believes it can squeeze out of the consumer.
In order to have standing to bring a lawsuit, CACH LLC had to prove to the court that it now legally owns the account and it has the right to sue you. If CACH LLC cannot produce admissible evidence that it owns the account, the lawsuit if often dismissed. However, many courts will rule for CACH based on the evidence presented so negotiating a settlement with assistance of an attorney may be the way to go.
The second issue with many of the lawsuits filed by CACH LLC is a lack of evidence of the debt. In order to obtain a judgment, CACH LLC must prove that you owe the debt and the amount of the debt that you owe. In order to prove this, CACH LLC must have documentation verifying this information. CACH often relied on affidavits claiming you owe the debt.
With a Lawyer
Most of our cases are dismissed by the creditor prior to trial or we reach a favorable settlement for our clients depending on the circumstances of their situation.
Without a Lawyer
The majority of collection lawsuits end up with a judgment against the consumer. Primarily because they did nothing to protect themselves or attempted to defend themselves.