Providing Debt Relief for Clients Throughout the State of New York

PORTNOY SCHNECK & CAVALRY PORTFOLIO SPV

Portnoy Schneck, formerly known as Shachter Portnoy, is a common debt collection law firm that we see representing creditors in both New York and New Jersey. Most often we see Portnoy Schneck representing Cavalry Portfolio SPV, a debt buyer. Debt-buyers buy debt from original creditors like American Express or other debt-buyers like Midland Funding paying a fraction of the balance for the debt. Cavalry Portfolio has been a consistent creditor that we have encountered through the years with slight name changes.

Cavalry Portfolio and Portnoy sue consumers often obtaining default judgments that allow them to garnish wages, freeze bank accounts, and place liens on consumers’ real property. Judgment interest accrues sometimes multiplying a small judgment obtained to a much larger figure. Consumers must move to vacate a default judgment as soon as they learn of it to re-open the case and give themselves a chance to defend themselves on the merits. Cavalry Portfolio has a more difficult burden proving that they are the rightful creditor as they have to provide proof such as the chain of title or assignment from creditor to creditor as well as a bill of sale at a minimum. From our experience, forcing them to provide this proof creates leverage and also provides the opportunity to negotiate a lower settlement with Portnoy Schneck, whom have always provided good settlement offers to resolve consumer debt matters.