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Jude101

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  1. Ok, so I sent PRA a validation of debt letter on March 8th 2011. I got the green card return receipt in the mail signed by a "Steve Danner" with no date on it. That was about a week later, March 15th or 16th. As of today, April 23, I have heard nothing from them. What is my next step here? They had 30 days to supply me with something and not a peep. Not that I expected anything as this is completely past the SOL but it'd be nice to get a voided 1099c form. Any advice on what to possibly do next about this? Thanks and Happy Easter!
  2. Was contacted by PRA via letter in the mail back at the end of 2010. They didn't really send me a formal letter as such, but rather an "3 options/plans" to settle form. Seeing as this occurred just within weeks of my checking my credit report (which showed no negative items and a score of roughly 725 or so), this is obviously junk debt that is past the SOL. I sent them a C&D letter after that and heard/received nothing until a few weeks ago when I received the popular 1099c form. They are claiming THEY wrote off/canceled a debt of $1,223.10 on 12/24/10. They were never the original creditor of any of my financial accounts. I did have a card that was charged off years ago (2000 or 2001) and I'm assuming this is where they got it from. I was wondering if anyone has gone through the entire situation with this 1099c stuff and could perhaps advise me on what to do next? I want to file my taxes for this year but don't know if I can until this is taken care of? Can I just go ahead with filing for this year? I was under the impression that only the original creditor could issue this form and it would have to be within the tax year that it was written off, not when JDB buys it from the OC and then re-writes it off. What is my next move here? I'd really appreciate anyone's insight into this situation. I feel badly about the debt, but do not want to pay some collection agency who bought it for pennies on the dollar. I appreciate everyone's time and any informative/experienced answers you can give. Thanks!
  3. Which letter template is the FOAD and where can I find it? Thanks again people.
  4. Thanks for the responses people. The correspondence they sent me doesn't really say specifically "original creditor", yet it does mention a group by the name of "Associates Financial Services" which sounds to me like another CA. They don't give any information about that group or the original account # involved. Just the amount of the balance and the group name as given above. And, again, NO mention at all of my 30 day right to dispute the debt. I honestly do not remember the date of last payment, but if it's not showing up on my credit report at all then it's gotta be over 7.5 years since the date of first delinquent payment, correct? That would put it way over the Pennsylvania SOL. I've basically read horrible things about this company and how they basically buy junk debt well beyond the SOL and try to scare people into paying for it. I've also read of people who have tried to negotiate with them and they end up getting screwed over in the end. Anybody else got experience with this agency? Suggestions?
  5. Hi everyone. I'm a newbie from PA. I got a letter in the mail today from Portfolio Recovery Associates concerning a credit card debt that is extremely old. It's basically giving me 3 options for paying back a balance of $1,965.47. My issue is this. While I don't know exactly how old the debt is, I recently browsed my credit reports with all 3 bureaus and nothing shows up as a negative. There is nothing referring to this debt or any debt in this amount on my CR. After having researched what I could on Portfolio Recovery Associates, it seems they have a bad reputation for pulling crap like this. I know the SOL for my state (PA) is 4 years and without a doubt I haven't paid them or anyone towards this account within that time. While, moralistically, I would like to pay this off, I don't know if I can trust them. I now know that nothing of this is showing up on my credit report which means that it's at least 7 years old, correct? Also, if I do pay off what they're offering, won't it STILL reappear on my report as a paid off collections? I know it sounds awful to say, but at that point what sense does it make to pay it? I want to do the right thing, but it seems they set it up to get their money AND screw you over as well. What type of letter(s), if any, should I send them? Cease and desist? Validation of debt? Anything else? Just looking for suggestions on how to go about handling this. I just received it in the mail today and haven't heard from or received anything from them prior. Also, Ok, so the received correspondence from Portfolio Recovery Associates not so much in the form of a letter, but basically 3 payment options for a very old debt that isn't even showing up on my credit report. I've been researching this and have discovered that they have to tell me that I have 30 days to dispute the validity of the debt. Is this correct as far as anyone knows? There is no verbiage whatsoever about what my rights are concerning this debt and no other letter came with it. It's telling me that "your first payment is due no later than 12/30/2010" and "This letter is from a debt collector and is an attempt to collect a debt. Any information obtained will be used for that purpose." Yet, nothing about my 30 days to dispute OR the assumption of it being a valid debt if I don't respond within 30 days. Does this sound legit to anyone? I know, I know...PRA are vicious and notorious. I'd rather not contact them at all, trust me. I'm just wondering if that can somehow make this worse? I really don't like the wording of this option plan they sent me and don't know if it qualifies as a debt validation notice or not. I really need advice people. How would you handle it? Leave it go or ask for validation of debt? What are the best forms to use for this situation...could someone please suggest??

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