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What do I do if CACH LLC comes after me for an old credit card debt?

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So I had a credit card in college that I never paid off. I've let it ride for three years now with a total of $3500 unpaid. I just got a copy of my credit report that states that a company by the name of Cach LLC has the debt. This is apparently the notorious Collect America outfit and their branches of lawyer hooligans scattered about. I have not received any formal correspondence from them, that I know of. I have been reading about what to do and it seems that I have a few options but I don't know what will work. I want to pay this off, over time, but I don't want to get wrapped up with legal actions or a bogus company that will not take payments from me. Also, I don't know if they bought the debt or if they are "holding" it for Chase. I did have papers served to me back in '05 directly from Chase about the debt. Never responded. Now what to do? Contact this bogus company with a DV? I have read that once people have done that they have been taken to court immediately. Do I contact Chase first and try to make arrangements? Do I just keep my mouth shut and hope this goes away? I really could use some help here. Very confused..... Thanks for anything you could help with




If you were served in '05 and never responded, likely you have had a default judgement entered against you already. Contact the court of record and request a copy of the file to confirm.

Sub: #1 posted on Thu, 08/14/2008 - 16:27

NASCAR_Devil NASCAR_Devil
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But if I have them send a file to confirm, what should I do then? Does that mean Chase would still hold the debt?

Sub: #2 posted on Thu, 08/14/2008 - 16:51

cstammel cstammel

(Posts: 12 | Credits: 3.85)

How is Chase reported on your CR's? If they have a $0 balance and "Sold/Transferred", they no longer hold the debt.

Sub: #3 posted on Thu, 08/14/2008 - 17:06

NASCAR_Devil NASCAR_Devil
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says transferred and has a $0 balance. The other two say $0 balance as well, chargeoff/collection. So I guess these Collect America guys own the debt, which means they bought it for pennies on the dollar. any use in sending a letter to chase and getting them to reclaim, or is that a dead option?

Sub: #4 posted on Thu, 08/14/2008 - 17:54

cstammel cstammel

(Posts: 12 | Credits: 3.85)

Dead option. Chase is out of the picture. What state do you live in? If you do have a judgement against you, you need to find out the ramifications (wage garnishments, bank levies, etc) before you do anything.

Sub: #5 posted on Thu, 08/14/2008 - 17:59

NASCAR_Devil NASCAR_Devil
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I live in NYC. It's funny, nothing ever came of this debt back in '05, but recently I had another judgment against me for a Capital One card and they were seconds away from garnishment until I contacted the court and made a deal to pay in increments. I can't imagine why this never amounted to anything and why it doesn't show up on my credit report. The county is Nassau which is Long Island, even thought I lived in Buffalo at the time. So I should contact the court in Nassau even though Chase no longer owns the debt and they are the ones who sued me?

Sub: #6 posted on Thu, 08/14/2008 - 18:06

cstammel cstammel

(Posts: 12 | Credits: 3.85)

Contact the court of record from the summons in '05. Even if Chase obtained a judgement, they can still sell it off to a JDB. It is not unusual for a judgement to not hit a credit report until some activity(dispute, new JDB) brings it to light.

Sub: #7 posted on Thu, 08/14/2008 - 18:12

NASCAR_Devil NASCAR_Devil
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(Posts: 4666 | Credits: 308.23)

So by attempting to fix this, I could be doing more harm to my credit report? Is there anything I can do with this company, Cach LLC? Do you know of them? I know they are one of the worst JDB's out there. I don't want to give me them one penny more then what they paid for the debt, and I think legally I don't have to. But I would still owe 3,900 to Chase? Man, I'm so confused!

Sub: #8 posted on Thu, 08/14/2008 - 18:25

cstammel cstammel

(Posts: 12 | Credits: 3.85)

Here's some info on exemptions and SOL for NY

Interest Rate: Legal:16% Judgment:9%

Statute of Limitations
Open Acct:6
Written Contract:6
Domestic Judgment:20 (10 yr. renewable lien)
Foreign Judgment:20 (1 0 yr. renewable lien)

Bad Check Laws (civil penalty): Face value of check
plus two times check amount up to a maximum of $400 on NSF or
$750 on "no account" (Demand prescribed by law). GEN. OB. 1.1- 104

General Garnishment Exemptions:
90% of earnings, except 1st $127.50 wk. wholly exempt


Collect America are typical JDB's so be very wary in your dealings with them. I think your primary focus should be determining if indeed a judgement has already been awarded. If one exists and CACH is now the owner, they have a better legal standing to collect the full amount regardless of what they paid for it.

Sub: #9 posted on Thu, 08/14/2008 - 18:55

NASCAR_Devil NASCAR_Devil
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Thanks so much for your help man. What I received was not a judgment but a summons. The only number I have on this is the number for the attorney of the plaintiff. On one page it says Supreme Court of Erie County, which is where Buffalo is, on another it says "verification" and says Nassau County on it, which is Long Island. It states that if I do not reply, default judgment will be taken. I never received any information about a judgment. Should I contact the attorney and find out what they have in their files, or try to contact the Erie County Court? I can't thank you enough for your help. If they have made judgment, they the I'm SOL on the SOL (get it?) Thanks for finding that for me, truly appreciated.

Sub: #10 posted on Thu, 08/14/2008 - 19:09

cstammel cstammel

(Posts: 12 | Credits: 3.85)

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