Sued by CACH, LLC? Then You Might Like Know This: You Scare the Crap Out of Them.

CACH, LLC is a debt buyer. Like many other debt buyers, CACH likes to keep things quiet.

This makes sense, because if knowledge of CACH LLC’s tactics became widespread, the company would not last long.

Unfortunately for CACH, its parent company, “Square Two Financial” has to file an annual report with the Securities Exchange Commission. Some interesting facts are disclosed in that report. (Anybody who cares to download the annual report can do so right here: 20140314_SquareTwo_10K_).

Here’s where things get interesting, especially if you’ve recently been sued by CACH, LLC:

Among the disclosures, are “risk factors” that CACH, LLC has identified. CACH, LLC has identified YOU as a risk, even though you were sued by CACH, LLC, and not the other way around.

Yep, CACH is scared of YOU.

Specifically, CACH is worried that you will not be foolish enough to pay up when they give you a collection call.

They are afraid that you will not hand them an easy win in their lawsuit. 

In fact, they are so worried about this as a trend that they had to disclose it in a government filing (their annual report called a 10-K).

CACH tries to “spin” their fears to blame everyone but themselves, but I think you will see through it.  Here are some of the risks they’ve identified (in their own biased words):

• Websites exist where consumers list their concerns about the activities of debt collectors and seek guidance from other website posers on how to handle the situation.  These websites are increasingly providing consumers with legal forms and other strategies to protest collection efforts and to try to avoid their obligations.  To the extent that these forms and strategies are based upon erroneous legal information, the cost of collections is unnecessarily increased”

(10-K at p.23)

And check out this one for being rich with irony:

•We operate in a litigious climate and currently are, and may in the future be, named as defendants in litigation, including individual and class actions under consumer credit, collections, and other laws.

(10-K at p.23).

And boy, do they not want anybody in the media to tell you what jerks debt buyers are, as highlighted by the risk factor that might be paraphrased as “the truth might get out”:

•Print and television media, from time to time, may publish stories about the debt collection or accounts receivable management industry that may cite specific examples of real or perceived abusive collection practices. These stories are also published on websites, which can lead to the rapid dissemination of the story increasing the exposure to negative publicity about us or the industry.

(10-K at p.23).

But here are my favorite two:

•A significant portion of our collections relies upon our success in individual lawsuits, which are inherently unpredictable, brought against consumers and our ability to collect on judgments in our favor.

Combined with

Our inability to provide sufficient evidence on accounts that are subject to legal collections may negatively impact the liquidation rate on these accounts

So there you have it!  CACH is sweating its pants off afraid that you will hold them to the law because they cannot meet the legal requirements to prove their case against you.

If you look up the full text in the 10-K, you see that they try to frame their fears in terms of unreasonable legal demands that have been put upon them by unsympathetic regulators. 

Yeah, right. 

The game would be over for them, if only consumers would stand up for their rights en masse and defend themselves properly.

Speaking of which…

I'm Ian Chowdhury, the attorney who runs the California Collection Defense website.

I created an online course on how to defend against a California debt collection lawsuit. It is absolutely FREE...for now.

You need this course if you've been hit with a credit card collection lawsuit in California court.

After you sign up for the course, you'll also have the option of purchasing the step-by-step e-book that you may have heard about on how to prepare, serve and file an "answer," (the e-book is optional, it only costs $8 and is only available for people who enroll in the free course).

Streaming video lessons will also cover, in detail, the major aspects of understanding the debt collection case.  You can click here to sign up.

This is a course that I could definitely sell for money, but I want to make it available for free to as many people as possible.

Do you want to see a sample so you know what you're getting before you plunk down your $0? I get it. I'm a cynic too. Here you go:

You can sign up by clicking any link on the page, or by using this sign up button:

"What's the catch?" you might ask.

After all, I do represent consumers against debt collection cases, so why am I giving away all the information for free?

I don't mind telling you:  The "catch" is that it is in my own self-interest to help as many people as I can for free.

People who are the right fit for me will want to hire me to represent them if they possibly can.  Nobody WANTS to handle a lawsuit alone. Basically, I'm not losing any business by doing this.

Meanwhile, this course helps a LOT of people whose cases I simply can't take on.

And that helps ALL of us: As large masses of people learn to resist debt collection lawsuits, debt collection attorneys have to spread themselves ever more thinly and can spend less time on any one of their cases.  Let me rephrase a bit: Those jack asses can't take all of us on at once!

That's good for you, it's good for me, it's good for society, and it's absolutely DEVASTATING to the corrupt debt collection industry. :-)

The unfortunate fact is I may eventually have to start charging future students, because the course will inevitably start to consume a larger portion of my time.

But that doesn't affect you, because you can get in under the wire, by clicking the "SIGN UP" button, above, or any of the sign up links on this page.

One more thing.  To make sure you get what you need, I am offering one more perk with this free course:  Members will be able to call in to periodic conference calls with me (consumer attorney, Ian Chowdhury).

You will be able to submit questions in advance of the call, and then approximately once a month I will address those topics on the live call.

Please share this page with your friends and acquaintances on Facebook and elsewhere; I promise you some other people you know are facing a debt collection lawsuit -- it's not the sort of thing that people talk about, but it IS happing to them.

DISCLAIMER:  Hopefully, this is already obvious, but neither signing up for the course nor using the e-book means that Ian Chowdhury is your attorney.  Ian Chowdhury is not your attorney unless you have a signed written contract stating that he is.  Don't make Ian Chowdhury angry by claiming otherwise.