The Cadle

Recently, state regulators have unmasked The Cadle Company, an Ohio-based debt collector operating in Massachusetts, charging the company has employed fraudulent practices to intimidate and collect millions of dollars from hundreds of residents. A growing force of consumers has come together to stop these illegal practices. This momentum was triggered by a February 26, 2003 letter from the Secretary of State for the Commonwealth of Massachusetts that determined The Cadle Company has operated for more than 10 years as an illegal and unregistered debt collection operation. In the letter, Sec. William F. Galvin called for other state agencies in Massachusetts including the Massachusetts Banking Division, the Department of Revenue and the Attorney General's Office to investigate the company and take action. In the wake of this letter, many Massachusetts consumers and businesses have formally filed letters of complaint about The Cadle Company to the Massachusetts Division of Banking. The Cadle Company, which presents itself as a company that "just invests in loans" is actually a collection arm of a fraudulent enterprise consisting of many legal entities set up and controlled by Daniel C. Cadle, the president and sole owner of The Cadle Company. The sole purpose and intent of this enterprise is to defraud consumers and businesses, deceive state and federal courts, and avoid state laws and regulations meant to protect against predatory practices. On March 31, 2003 a group of Massachusetts consumers filed a demand letter with the company formally requesting The Cadle Company return all monies it fraudulently secured as a result of its actions over the last 13 years or face a lawsuit.