As a former employe of this company I stand with the american public and inform anyone that this company is a total RIP OFF. When 3 business men all friends thought up the idea of buying bad debt they invested their collective savings into it. They now own a major industrial site in Norfolk, Virginia and employe over a thousand employees. The company goes to all the major corporations and buys credit paper and loans for and average of 3 cents on the dollar. The company then imputs the information into a main frame computer system. Then in their most famous words state "let the games begin."
It doesn't matter if the loan is valid or not all that matters is if they can get the consumer to pay it. Loans and charges that may have been fraudulent are of no matter to these people. You can prove beyond a shadow of a doubt that whatever they are calling you about is not valid it does not matter. I was employed at the time that after making millions the company began to buy auto loan paper. This company violates the FDCPA thousands of times a day. Each violation is worth 1000.00 dollars to the consumer harmed by these violations. However, no one is really going after them. Say you did have an auto loan and the car was repoed and you still owed money on it. The owner of the loan then writes the loan off to save on taxes then in turn still attempts to collect..After a short period of time money from the resell of the auto is collected and the loan is completely written off. FOR SEVEN YEARS this can be reported on your credit file then by law it has to be removed. However, Portfolio Recovery Associates buys the paper and now owns the loan and rereports it to the credit reporting agencies under a new name and it pops back up on your credit. This can go on for 30 years.
I have seen people be denied home loans or have their checks garnished. There is no end to the dirty deeds this company will employe. After an intensive class on how to be the most uptight asshole you are given the opportunity to help the dirty three to continue to ripoff your fellow americans.
You want to hear a real scream? As an employee you are promised a commission on any account you collect. There is a control room in the center of the building in Norfolk with high tech equipment and computers where the owners sit day and night amd monitor EVERY CALL. I personally collected an 80,000 eighty thousand dollar account.My commission was supposed to be 10%. Eight thousand dollars. after I received account information to collect the money my call was busted in on and I was written up for violation of the FDCPA and stripped of the commission and my base salary and was fined by the company a thousand dollars. Come to find out the debt was from a deceased man and was over twenty years old and had been settled 18 years before. The widow of the man was selling her home to go into a retirment home and the sell was not allowed because the company that owned the loan in the beginning forgot to write it off as paid and sold the loan to Portfolio Recovery Associates by mistake.The widow not knowing any better paid Portfolio Recovery Associates again. Before anyone could step in a help this person she up and died of a heart attack. Portfolio Recovery Associates kept the money fired me when I took them to court. So not only are they ripping consumers off they rip off their own employees.
You cannot belive anything and I mean anything this company tells you. When they call and inform you that they are here to help you resolve whatever debt they claim you owe thell them you have resolved it. YOU HAVE RESOLVED NOT TO PAY THEM ANY AMOUNT OF MONEY WHATSOEVER!! When you are threatened with legal action tell them to BRING IT ON!! Trust me they won't. For one thing they must bring every written correspondence, phone conversation and all legal papers proving the debt and validity of such. 9.999999999999999999% of the time it can't be done. And by the way no one can threaten you with legal action unless they are prepared to follow through. Go online and download a free copy of the Fair Debt Collections Practice Act. FDCPA. When they yell at you yell right back...
In my uncles famous words tell to to go pound salt up their asses and hang up on them. THe only way these three are making money is through fear and ignorance. Once I found out, and that was within two weeks of being on the main floor and after collecting the necessary information for an eighty thousand dollar collection, I went to sue them.They then fired me, hell I wasn't going back anyway. It breaks my heart, I swore to defend this nation aganist all enemies and I failed this poor soul against a major enemy of the American consumer, Portfolio Recovery Associates.
Portfolio Recovery Associates are nothing more then THUGS. Stand up for yourselves people. GOD BLESS YOU and Semper FI. USMC Christiansburg, Virginia.
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