Square Two Financial Corporation, the parent company of bad debt buyer CACH LCC, has filed Chapter 11 bankruptcy.
From the looks of it, this was a “prepackaged” bankruptcy, with Resurgent Holdings LLC waiting in the wings to buy up the assets of the company. If you are being sued by CACH LLC, your case is expected to go on without interruption. There may be a snag in getting documents (even more than usual) because of the need to integrate CACH’s record system with Resurgent’s.
If you are suing CACH, then you have my sympathy. Your case will likely be caught up in the bankruptcy and likely be stalled for a good long while at best.
In my opinion, Resurgent (and its subsidiary LVNV) is neither better nor worse than CACH, so from a consumer’s point of view, it’s probably neutral.
Of course, the irony in this is debt collectors are notorious for ridiculing consumers about not being able to handle their finances, yet CACH has joined the list of collectors that bought debt at 5 cents on the dollar which couldn’t meet their obligations.
If you are being sued on a consumer debt in Indiana, please call the Consumer Law Office of Steve Hofer. I will evaluate your case at no cost to you.