Portfolio Recovery Advice!!

[sweetie819]

I currently have two collection accounts with PRA. The total between both accounts is about 3K. The original creditor is no longer listed on my credit reports but my CR say that its due to fall off in 2019. I was reading on another forum and someone filed a BBB complaint because PRA was reporting as Loan style: factoring company account and that was a violation of FCRA because they are debt collectors. I looked at my May 2015 CR and PRA was reporting at a Factoring company account! I want to file a complaint with BBB but if it's due to fall off 7/2019 that means I'm still within SOL (I'm in MA) and I'm afraid of getting sued. Should I file the complaint? Do I have any recourse other than wait? They are the last two baddies on my report and I just want them gone! I tried PFD via email but nothing. I've never spoken to them and they occasional send mail to my moms house which I haven't lived in in 10 years. Any advice would be greatly appreciated!

[tralston3838]

When did you default with the OCs? That's what usually factors the SOL, not whatever PRA wants to put on your reports.

 

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[Sandscrit]

I currently have two collection accounts with PRA. The total between both accounts is about 3K. The original creditor is no longer listed on my credit reports but my CR say that its due to fall off in 2019. I was reading on another forum and someone filed a BBB complaint because PRA was reporting as Loan style: factoring company account and that was a violation of FCRA because they are debt collectors. I looked at my May 2015 CR and PRA was reporting at a Factoring company account! I want to file a complaint with BBB but if it's due to fall off 7/2019 that means I'm still within SOL (I'm in MA) and I'm afraid of getting sued. Should I file the complaint? Do I have any recourse other than wait? They are the last two baddies on my report and I just want them gone! I tried PFD via email but nothing. I've never spoken to them and they occasional send mail to my moms house which I haven't lived in in 10 years. Any advice would be greatly appreciated!

Leave it alone and let the state statute of limitations pass because you will only awaken the sleeping bear and get sued.

[tralston3838]

Your state SOL and your credit report fall of date are not the same. When did you default with the OC?

 

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[jack1212]

What's the DOFD on the account?

[sweetie819]

the last payment made was 8/31/2012 for both accounts

[tralston3838]

You say your CRs from 2015. Do you have current paper copies? Are they still reporting incorrectly?

 

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[insolent1]

Ignore anything to do with the BBB. They base their effectiveness solely on the goodwill of the business, in this case - PR, and expecting a CA to be nice to a debtor is pointless. If Portfolio ignores them or does nothing, the BBB can not sanction them, bring an enforceable action against them, or otherwise help you.

[fxtalon]

This will probably not be helpful to the OP. However a couple of years ago I took a payoff offer from a collection agency. The collection had not hit my credit reports at that point. After I started to pay the offer, the person I was talking to started pestering me and shaming me for not offering to pay the full ( made up) amount they said was the original collection. I pointed out to them that I had accepted their offer to pay the lower ( original) amount. That is what I paid. A couple of days later, the collection showed up on my report, tanked my score about 30 points. It showed up as settled debt for lower amount.

 

Boy was I ticked off. I filed a complaint with the BBB, as the agency was a member. Within a few days there was a response from the agency who said that in the interest of customer service, they would remove the paid off collection they inserted.

 

It was removed.

[mikenola]

I currently have two collection accounts with PRA. The total between both accounts is about 3K. The original creditor is no longer listed on my credit reports but my CR say that its due to fall off in 2019. I was reading on another forum and someone filed a BBB complaint because PRA was reporting as Loan style: factoring company account and that was a violation of FCRA because they are debt collectors. I looked at my May 2015 CR and PRA was reporting at a Factoring company account! I want to file a complaint with BBB but if it's due to fall off 7/2019 that means I'm still within SOL (I'm in MA) and I'm afraid of getting sued. Should I file the complaint? Do I have any recourse other than wait? They are the last two baddies on my report and I just want them gone! I tried PFD via email but nothing. I've never spoken to them and they occasional send mail to my moms house which I haven't lived in in 10 years. Any advice would be greatly appreciated!

Sweeie,

 

The very first thing you should do is figure out the Date of First Deliquency (DOFD). This date occurs at the original creditor and does not change.

 

The best way to do that is to get paper copies of your credit files from all four CB's and LexisNexus (the fourth is Innovis (sp?))

 

The SOL is keyed to the DoFD and nothing else.

 

If the Last Payment was 8/2012 your DoFD would be AFTER that depending on how the OC reported it at that time, but it will be close, probably 9/2012

 

If Maines SOL is 7 years after DoFD (and veryify that with your state attorney generals office or a lawyer) then 9/2017 is the end of the SOL.

 

Do NOT speak to anyone over the phone about this, it may bite you in the butt.

 

Put nothing in writing or verbally to anyone that reaffirms this is a legitimate debt and that you own it / intend to pay.

 

Your state SOL creates a dilemma for you in that it is tied to DoFD at 7 years. If you complain or challenge it to the CRA's and PRA actually does a real verification they can decide to sue you in court.

 

If you challenge, PRA will have the opportunity to change that to Debt Collector (from factoring) or what ever the right code is in Metro2 language. Then no harm no foul on their part, but that amount of attention may trigger them to take revenge, and they are a nasty lot.

 

You have to decide if that chance is worth taking.

 

I have a similar situation with them, but my SOL is long past and they are reporting other erroneous info and the info reported on TU is different than on EQ. My problem with them is that they have never made first contact with me and will not respond to letters. My next step is court to sue them. It seems they have used this tactic with many people whom they know the info is wrong but just flat out refuse to fix, making it pure spite on their part. Each court will have to decide if they can get away with it. The CRA's just keep saying the info is verfied and if I keep pushing them they will classify my disputes as frivolous which allows them to disregard the dispute.

 

good luck and let us know what you decide

Mike