Recently, Lebedin Kofman LLP was retained as counsel to defend a private
student loan lawsuit. The creditor and plaintiff was Cavalry Portfolio
Services, LLC, a debt buyer who was represented by the law firm of Schachter
Portnoy, LLC in Kings County Civil Court. The suit in this case involved
our client’s alleged default on a student loan. Our firm began working
on this case shortly after he received the summons and complaint so that
an answer with affirmative defenses could be submitted and a default judgment avoided.
Calvary was founded in 2002 and is in the business of the acquisition and
management of non-performing consumer loan portfolios or debt. Schachter
Portnoy, LLC is a common debt collection law firm with over forty years
of collecting and enforcing debt for businesses, collection agencies,
healthcare providers, professionals, individuals, and governmental agencies
in the collection of delinquent debts and creditors’ rights matters.
From our experience in defending against them we have seen that they are
generally aggressive in seeking recovery of claims and judgments.
After filing an answer to the summons and complaint served on our client,
we were able to pressure Shachter Portnoy into a negotiated out of court
settlement for our client. The settlement reached in this case reduced
the amount owed by about 75% off of the full amount and we were even able
to have that amount split up into installments over a 15-month period.
This settlement saved our client over $15,000 off the principle amount
of the debt owed.