Portfolio Recovery Associates - Collection Agency Portfolio Recovery Associates reported bad information to all three credit bureaus Norfolk, Virginia

Yes you do still have protections.

You should visit the FTC website, www.ftc.gov and download the Fair Credit Reporting Act (your rights as to disputing stuff on your credit reports) and the Fair Debt Collection Practices Act (HOW to deal with scummy debt collectors.)

First, you should know that any TRUE AND ACCURATE consumer debt of yours is GENERALLY reported on credit reports about you for 7 years (from delinquency or charge off.)  So, this item should come off any credit reports about you on or about 10/2010.  The SOL doesn't matter as regards credit reporting.

PAY THEM NOTHING and don't comply with any "fraud reports" that they demand.

Further, if you send them a certified, return receipt requested letter that states you're not gonna pay it, they have to stop contacting you to attempt to collect.  In other words, they have to drop it or attempt to sue you for it (cease communications with you.)  The 3 year SOL is an affirmative defense against any lawsuit for this debt.  The SOL, as well as the 7 year general reporting period is based on the ORIGINAL DELINQUENTCY, and NOT BASED on when they acquired the debt.  Once they receive your letter that you won't pay and they still send you collection letters or telephone you, you should hire an attorney an sue them in district court for FDCPA violations.  The FDCPA allows you to be awarded actual damages, statutory damages up to $1000, and reasonable attorney's fees.

As to removing this from credit reports, read the FCRA.  If the debt is actually yours, then it is appropriate that it remain on credit reports about you until 10/2010.  If it is NOT your debt then you need to DISPUTE the debt in it's entirety.  You may dispute this with them and the 3 CRAs.

Proceedures for disputing the debt with them and other junk debt buyers/debt collectors are outlined in the FDCPA.  Proceedures for disputing with the credit reporting agencies/creditors are outlined in the FCRA.

Good luck.

I can not tell if you are saying that it is not your debt, or because it is out of the Statute of Limitations you feel you no longer need to pay it.  The Statute of Limitations and Credit Reporting Period are two different items.  This is something that a lot of people confuse and mix together, but they are two unique terms.

While the SOL may be 3 years and this debt is no longer LEGALLY collectible, it still can be reported on your credit report for 7 years.  Since the date of delinquency was 10/2003 it can be on your report through 10/2010, IF it is valid.  It is actually against the Fair Credit Reporting Act(FCRA) to "re-age" a debt.  This is why even though it was bought in 2008, it is listed as 2003.  Because no matter how many times it is sold or transfered the first date of delinquency can not be changed.

As to what to do.  If they have properly validated the debt and it is yours.  To get it off now.  You may want to send them an offer to settle the account, since it is old you can start with something like 25% of the amount owed.  On the condition that they consider the account settled in full and delete their listing from your credit reports.  Do this through certified mail and do not sign the letter or send any money until you have something in writing you can agree with.  You can also just wait it out and let it fall off in another year.

Now, if they did not properly validate the debt and the CRA's refuse to remove it you may want to take action against them under the Fair Debt Collection Practices Act(FDCPA).  A successful suit against them would get you $1000.  There are specific items they must do to meet this "validation" requirement and you can search for these requirements.  You need to compare these requirements with what you got and see if you have a suit.  While I am not saying to just pay these people to go away.  If you don't have a strong case it may be cheaper to actually pay them off than to go through all of the time and cost to file a suit on the hopes that you will prevail.

Once I found this collection account on our credit reports, and I found out who the original creditor was, I called them. According to the original creditor,Virginia Dominion Power,I was told I DON'T OWE THEM ANYTHING and to have a nice day.They don't even have a record of us at this time, nor did they place the hit on our credit reports.(As the hit was not on the Credit report until 8/2008, placed by Portfolio Recovery Associates...) If I paid any money to Portfolio Recovery Associates, the money would go to no one but them. This company also tried getting money from people on 20 + year old charged off accounts as well.I am not going to let some scumbag company line their pockets by trying to shake down people with scare tactics like "Pay us this money that the original creditor says you don't owe or we will put a bunch of crap on your credit report that the original creditor didn't, so you have to give us $250+ to get it removed."Original creditor says I owe nothing, so these jerks aren't getting a single thin dime either.

How can a third party collection agency place a hit on a credit report demanding that you pay such and such when the original creditor says you don't owe anything? This doesn't benefit me,or the original creditor in any way and they will see $0, Nada, goose egg.Giving the money to Portfolio Recovery Associates just justifies what they are doing to people,and people giving them money on these accounts does just that. This company has no decency or boundaries as to what they will do Besides taking the $253 and setting it on fire or flushing it down the toilet would at least be entertaining, but giving it to them would have the same result...giving away money for nothing.

As far as the house refinance was concerned, this hit didn't matter at all anyway. The new mortgage company told us it was so old and miniscule they didn't even pay it one bit of attention, and we refinanced at 4.75%.

As a fellow Debt Collection Agent, I stress to many people how many times in one day after dealing with hundreds of unpaid accounts that 99 percent of the people I speak to tell me the debt is invalid, expired, or not theirs.

If there is a debt reported by an agency that is such as Portfolio, NCO, RJM or any other company that is considered 3rd party debt collection, It is very important to know that all documents passed through to these companies have to be proven in the court of law. There is a federal Affidavit filed, and a judge has to sign off on the sale of the debt.

Once a debt is sold, regardless of age, it is still owed in full to the purchasing company. if there is a dispute, they are required to dispute the debt. Now I know that most agencies will dispute over the phone, but that is not something that must be provided.

As a debt collection agent, I would call the reporter on this from her statement a Professional Debtor. What this term means is she feels she is never in the wrong, never overlooks a bill-which in alot of cases does happen to even the most wealthy people. the fact of the matter is, there are so many fraudulent activities, and there are HUNDREDS of agencies being shut down for incorrectly handling affairs for people.

We are service providers. if you know you have a bill, pay it. if it add up with timelines and you want further research done, then ask the agency to do so, as you do the same.
IN most cases we are trying to help people clear up credit issues.

Debt collection has never had a good name, but all it takes is someone to pick up the phone and listen to options given for taking care of the bill that has been defaulted on, such as an old utility bill.

Now, in regards to Statute of Limitations, it is not where the debt was occured, it is where the debtor lives, thats the first thing. Here is the second and most important thing: STATUTE OF LIMITATIONS DOES NOT MEAN A DEBT EXPIRES. A debt never expires, and if you want creditors to stop the calls, then send a cease and desist letter. but if it is on your credit report, the only person you hurt is yourself. I know that there is a specific company out there that collects over 200,000 dollars a day.

I know that Portfolio is a good company, the people there have good intentions, and slanderizing a company for practices you do not approve of due to the simple fact that you just want to get out of your bill is just plain irresponsible and dumb. This is where you would need to grow up and take care of your responsibility.

And the worst part about this whole complaint, look at the amount! is it worth 253 dollars for you to buy your home or not?

Dravendebtcollect did not read or missed an important part of the complaint.  Poster said she called the power company and they said they had no record of her owing them anything.  With that said then Portfolio Recovery would have a difficult time providing validation of the debt

I suggest to the poster to call the power company back and have them look into if the account was ever sent to a collection agency.  Why should the poster pay for something that may not be hers.

It is up to the collection agency to prove the debt to be valid if they can't do that then they have no case.  And I will add that Portfolio Recovery is not a reputable agency they are low life bottom feeders.  Poster I would be very careful because they might try to sue anyway.  If they do sue you, be sure to answer the complaint.  And show up for the hearing because if you don't then they will get judgment against you.

I believe that they were phishing you, so don't fall into their trap.  Did you ever receive validation of this debt from Portfolio Recovery?

I did not miss anything, when a debt is sold, the AVERAGE associate of a company has no access to anything regarding the debt. or former account. Therefore it appears as if there has been no business done With the company.

Now I can tell you I personally do not like that IDEA because it is harder for me as a debt collector to validate a debt if they average associate of the origional merchant/creditor is not able to verify the information.

I know how alot of agencies work, and alot of them break the law. I can tell you that it is not always the AGENCIES fault, even though they are or can be held responsible in most cases. Alot of times it is just hit and miss with quality control. which we are required to have.

You, sir, are the epitome of a low-life bottom-feeder. The way you make accusatory comments to the OP simply illustrates how you treat people on the telephone.

I was checking my free annual credit report last night, and saw an inquiry from this rip-off scum company, which is how I ended up here on this forum. I am not sure if they are re-aging my account or what, but it was from a debt I incurred due to hurricane Katrina that I could not pay. I'm not a "professional debtor" or anything like that. I lost my job of 26 years due to the hurricane, and the money in question was to buy phone minutes so I could locate my family after the hurricane. Yes, I knew I was doing wrong and wouldn't be able to pay. So shoot me, which is probably what you, Dravendebt would prefer. I owed less than $100.00. I will NOT pay this money to a company that A) paid probably two cents on the dollar to acquire the "pleasure" of owning this debt, and B) Uses tactics that toe the line on legality, and C) Employs morons such as Dravendebt. I PRAY you are the one that finally finds me and calls me. I would have so much fun telling you off! I've been following your posts in the various forums on this subject, and you are the reason these companies get into trouble. You figure for every person you terrorize, the profits and your "commission" are worth it, and you know the attories general from the various states hold no power over you.

You sir, (or madam?) are a moron.

Oh, by the way Dravendebt, I am now in college, recovering from Katrina, and getting an education. Something you probably should have done so people would respect you. Or perhaps you do this job so well because it makes you feel like a big man to belittle people?

i have worked in debt collections for several years and have dealt with debtors in various states. first of all, there is no way for them to remove the debt from your credit report although some collection agencies have the ability, partically when there has been fraud. if i were you i would check my credit report. also the statute of limitations is not for where the company thats reported on your credit report is located but whatever state you live in. texas is the only state with the lowest amt of years and its 4. also the definition of written off doesnt mean that its off of your credit report. it means that the company you originally owed it no longer considering you an asset and tired of paying taxes on money that you owe them. therefore allowing an collection agency to buy the debt, relieving them of it. collections companies this large are not scared of the threat of litigation either. they have law firms that they keep on hand in every state for a reason. and even if the debt is out of statute of limitations all collection agencies have the ability to pull at least one of your credit reports regardless of a c&d letter, that letter only prevents them from contacting you via mail or phone. if i were you and you know that its owed pay the bill. if a collection company is reporting on nasdaq they have to be doing something right! also a lot of original creditors no longer have access to sold debts b/c they also have to release all info involved with it. if i were you i would settle the debt and cut my lost b/c it would be sad to not be able to refi over 253.00 b/c now the tradeline shows a collection agency which looks worst. you can also dispute the debt thru the credit agencies but if you cant prove this has been paid to them it will remain there.

Dravendebt is a troll looking for a cheap thrill by insulting others. If he were a real collection company he would use his real collection company name. I own Reeper Recovery. I can be Googled. I also own Reverand Dave collections. I am proud of what I do and I do it well. I always give the debtor the benefit of the doubt till they prove me wrong. Then I bring the wrath of me down upon them. Sue the crap out of the reporting company and ignore Dravendebt. He does not have a pot to piss in or a window to throw it out of.

 

Reverand Dave collections

"One free blessing with every repo"

for these same illegal tactics they are pulling on the OP! 

Missouri AG Takes on Portfolio

Attorney General Koster takes action against fraudulent debt collectors --Koster says businesses tried to collect debts people didn't owe--

St. Louis , Mo. - Attorney General Chris Koster today filed suit against two debt collection companies that are operating scams to collect debts from citizens who do not owe the money. Koster filed law suits in St. Louis against Portfolio Recovery Associates, a public company based in Virginia , and Professional Debt Management located in Kansas City . Koster said Portfolio buys old and bankruptcy-discharged debt, often from another bad debt buyer, and then tries to collect, sometimes through court action. He said the company often is attempting to collect on accounts that are already paid or have been discharged in bankruptcy; sometimes they try to collect from the wrong consumer or for the wrong amounts. He said the company has threatened to garnish consumers' social security checks, which they have no authority to do, and has refused to provide consumers with proof that the debt is valid. Koster said Professional Debt Management uses scare tactics, leaving messages on consumers' phones that there is an emergency. He said that like Portfolio, they attempt to collect on accounts already paid or from the wrong party. "The Attorney General's office intends to take aggressive action to protect Missouri consumers," Koster said. "I am asking the court to issue a permanent injunction prohibiting these companies from violating consumer protection laws and to order that they provide full restitution to the people they have harmed." Koster also is asking that the court impose monetary penalties and require the companies to pay all court costs.

 

 

YOU ALSO HAVE TO WORRY ABOUT THEM FILING FALSE 1099-C INCOME REPORTS WITH THE IRS! 

 

Is Portfolio Recovery Associates in Financial Trouble

?

We've

been flooded with consumer complaints from all across America stating that they have received IRS Form 1099-C from Portfolio Recovery Associates...

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Portfolio Recovery Associates, LLC

Revenue Discovery Systems

Aka/ Anchor Receivables Management

 

PORTFOLIO RECOVERY ASSOCIATES

AS A FINANCIAL INSTITUTION?

Corporate Headquarters 120 Corporate Blvd., Norfolk VA 23502, Mailing address: PO Box 12914 Norfolk VA 23541 Phone: (800) 772-1413      800-654-8818 or 757-519-9300 Fax: (757) 321 2504 or 866-296-0635

Offices: 4829 Hwy 45 North Jackson, TN 38305  

New Market Mall 5200 West Mercury Blvd Hampton, VA 23666  

500 West 1st Avenue Hutchinson, KS 67501  

Head Debt Collectors: Steve Fredrickson, CEO Email: sfredrickson@portfoliorecovery.com Andrew Holmes, President Email:  aholmes@portfoliorecovery.com Craig Grube, Sr., VP Email: cgrube@portfoliorecover.com Donald A. Williams, Associate General Counsel Email:  dwilliams@portfoliorecovery.com

www.portfoliorecovery.com

Delvanie Rush

is a liar and employee of Portfolio Recovery Associates, LLC.  Read her phony document.

Bud Says       

                 Consumer Comments Below

Portfolio Recovery Associates, (PRA) bottom feeders with deep pockets, have apparently figured out how to get blood from a turnip. They collect on accounts dating back to the 90’s -- accounts so out of statute that most consumers can’t even remember if they even existed. These vultures live off the grief and (in some cases) the time barred debts of unsophisticated consumers. Like most of the bottom feeders out there, PRA and Anchor are fighting the density of junk debt buyers who have flooded the market. To say the price for accounts has gone up is an under-statement. PRA is paying more just like everyone else to stay on top of the market.   One of PRA's favorite tricks is to use the IRS to collect for them. They issue the debtor a 1099C for the amount of the debt, then charge the full amount off as a loss. We've heard cases of other agencies collecting later on the same debt. Could PRA be charging off the full amount, then selling the account to another junk debt buyer? The poor consumer gets screwed in more ways than one. First, he's paid a questionable debt via a settlement to PRA - perhaps 60% on a debt they most likely couldn't have proven in court. Secondly, his taxes are hit when the IRS waves this 1099C in his face. They are effectively collecting for PRA at this point, since PRA took the loss (100%) of something they paid only pennies on the dollar for. Third, the consumer has to face the debt again when the junk debt buyer comes after him anew. Hopefully, the IRS will catch onto this scam. PRA is a publicly traded company, so one would think they wouldn't be able to get away with this type of financial accounting for very long without some preying eyes.  

CAUTION

: I recommend you

NEVER

disclose your bank account or credit card information to a debt collector, as you risk them emptying your account, or maxing out your credit card. If you feel they are reporting on your credit bureau files in error or need assistance in dealing with them, email  the details w/your location.  Assistance and referral to a consumer legal specialist may be available.