Cavalry Announces Portfolio Acquisitions Totaling $1.2 billion for First Half of Year

Cavalry Portfolio Services LLC, one of the nation?s largest debt buyers, has reported acquisitions totaling $1.2 billion in aggregate principal balances in the first two quarters of 2006, bringing the firm?s receivables portfolio to a total of $15 billion. The firm now services 10.9 million accounts.

Cavalry, one of the remaining large independents in the debt-buying sector, buys and collects on distressed consumer debt portfolios from major banks, credit card and consumer finance companies, and from other industries including telecom, healthcare and utilities. According to Al Brothers, Cavalry CEO, the firm has added about 2 million accounts and is expanding across its network.

?At Cavalry, we scrutinize deals very carefully. We moved forward with substantial acquisition activity in the first half of the year, more than double the transactions in the same period last year,? Brothers said. ?With the growth in our portfolio, we?re recruiting account specialists, looking to add about 10 to 15 employees monthly in each of our centers.?