A Review of Cach LLC Collection Agency

Cach LLC is one of the most prominent junk debt collectors based in Denver, Colorado. 

The debt collection firm is in the business of dealing with zombie debts or irrecoverable debt from notorious defaulters.

They mainly buy bonds for some few pennies from legal, financial institutions such as banks, in an effort of reducing the cumbersomeness that comes with following up debts from notorious defaulters.

The firm comes in as a third party debt collector, in the case of a default by the loaned who had obtained some money from the loaner.

After purchasing the loan from the loaner, they contract another debt collection company to contact the defaulter. The contact is made through email notifications and calls to the defaulter.

Shell Corporation

Cach Collection Agency is just a shell corporation owned by Square Two Financial. It has been in the debt collection business for close to 12 years, having started business in 2005. Cach LLC address is 370 17th Street, Suite 5000, Denver, CO 80202-3050.

The parent company, Square Two Financial, is renowned delinquent debt purchases in the US. It works with other joint companies, namely; K.R.G. Capital Management and CA Holding, Inc.

However, the firms mentioned above have lawful status in the US, with all of them listed by the Securities Exchange Commission.

The reason behind the long chain of ownership is that Cach prefers to limit the information it disseminates to the public, due to the nature of the business it engages in.

How Cach Operates

The information purchased from loaners includes the defaulters personal and property details. It helps them create a credit report for easier follows up in the end.

The sad thing is that if you are a defaulter, you will not meet Cach Agency in person.

It is because they conduct their business using third parties such as collection law firms who obtain Summons and Complaint letters from a court of law.

The debt collection company, therefore, serves you with the legal document, which is a legal representation that you have a lawsuit at hand.

You are therefore given a period of 20 working days to make a response to Cach, to save you from having a legal default judgment on you. The case is served in either a district or superior county within your jurisdiction, usually the county.

Failure to respond within the 20 days of being served with the Summon and Complaint letter, with your lawsuit filed in a court of law, lands you into more problems.

First, the default judgment on you authorizes Cach to place a lien on your property, usually your home. Additionally, they will be allowed to freeze or lay claim on the defaulter’s bank accounts and wages or salary.

Undoubtedly, everybody is the business of recovering whatever they have spent in the form of investment.

This Collection Agency is not an exception to the above statement, and they will strive hard to get back the money because they have experienced debt collection defense attorneys.

However, defaulters can only hope for the best outcome when it comes to facing the lawsuits in the long run.

The debt collection agency will put a spirited fight in the trial to prove their claim.

It means that they will have to bring up the necessary proof, backed by the GEMB reports which may not be available immediately.

However, if it’s proven that the report is available for use by the defense attorneys, then a defaulter will have a tough time in courts.

Moreover, Cach will put much of their resources too deep into any judicial process to win the lawsuit.

The reason behind such massive investment is that most of the debt-related lawsuits wind up in favor of the plaintiff, a debt collection agency.

It is for this reason that most defaulters usually opt for a negotiation to settle the debt or pray for the court to dismiss the case.

What many people do not understand is why they put much of its resources to win any debt collection litigation against defaulters.

The answer to this is that, after winning the dispute, a defaulter is obligated to settle the debt, hence secure payments for Cach.

If you fail to make any installments on time, Cach moves quickly to a court of law to obtain bank account levy permission and place liens on your property.

Therefore, defaulters need to understand the consequences of further default to the settling of debts.

In most cases, the debt plus the interest will need to be settling in a period of more than 60 months.

It makes it safer for Cach to recover their money for an extended period and remain profitable.

Criticisms on Cach

First, Cach operates under a secretive environment making it difficult for defaulters to get in contact with them.

In most cases, they transfer your account and details to the contracted third party debt collection firm without any notification.

You will get lucky if your written correspondence gets an answer from them.

Secondly, if you want to settle an account with them, it may take long. It is because, the firm has to serve you with a litigation letter and go through the lengthy court processes, taking several months to see you through it.

Finally, yet fundamentally, the firm sails on the defaulter’s ignorance on the debt collection process, let alone making a claim.

While it may seem to go easier by yourself, most defaulters do not understand the Fair Credit Collections Act, where the rights of the defaulter are protected.

There is too much disinformation from the debt settlement companies, and Cach is not an exception.

It is, therefore, important that defaulters and loaners, alike, have to understand this particular company. Cach LLC Collection Agency phone number is (303) 296-3345, in case your institution has many zombie defaulters.

Cach will protect you from going under, by at least recovering some money for you.

All you need to do is to contract the company, furnish it with evidence that someone owes you a debt and let the court determine whether Cach has standing to collect on the money.