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wj2005

Interesting letter from portfolio recovery PRA...

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So I just got a letter from them trying to get me to pay them on 1 of 2 cap1 accounts... $450 and $360 are the amounts. This letter was for the $450 one. 

 

What is so very interesting is specifically in the letter it says the following:

 

”within approximately 30 days of your final payment successfully posting, we will request that the three major credit reporting agencies delete our trade line related to your account from your credit bureau report”

 

has PRA stated pfd???

 

they also have in the letter that they will not sue me because of the age of the debt

 

now I am about to hit them somehow to try and get this removed without payment since they do report it on my cra as a 1 month term and also never sent me an original letter when they first got the account and then started to report it to my cr’s  

 

What will be be my best way of going about this? BBB, FTC, attorney general (Ohio) or another way?

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7 hours ago, wj2005 said:

So I just got a letter from them trying to get me to pay them on 1 of 2 cap1 accounts... $450 and $360 are the amounts. This letter was for the $450 one. 

 

What is so very interesting is specifically in the letter it says the following:

 

”within approximately 30 days of your final payment successfully posting, we will request that the three major credit reporting agencies delete our trade line related to your account from your credit bureau report”

 

has PRA stated pfd???

 

they also have in the letter that they will not sue me because of the age of the debt

 

now I am about to hit them somehow to try and get this removed without payment since they do report it on my cra as a 1 month term and also never sent me an original letter when they first got the account and then started to report it to my cr’s  

 

What will be be my best way of going about this? BBB, FTC, attorney general (Ohio) or another way?

 

PRA is one of the three major collection agencies that will delete the collection tradeline when you settle or pay, if the debt is at least 2 years from the DOFD.

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6 hours ago, dvd said:

 

PRA is one of the three major collection agencies that will delete the collection tradeline when you settle or pay, if the debt is at least 2 years from the DOFD.

Since when.... I thought they never pfd according to all the posts I have read on all forums out there

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It's on their website. The CFPB has some authority over debt buyers, the BBB does not, the FTC is a regulatory agency and won't get involved, and the AG won't get involved either unless they did something really illegal.

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On 12/17/2018 at 8:09 AM, legaleagle2012 said:

It's on their website. The CFPB has some authority over debt buyers, the BBB does not, the FTC is a regulatory agency and won't get involved, and the AG won't get involved either unless they did something really illegal.

Cfpb is the one I couldn’t think of when I was typing my response lol. 

 

Thats the one im going to try first... see if they will finally delete it especially since they won’t sue me as well. 

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They can report it correctly until 7 years and 6 months from DOFD.  So, please tell the CFPB what is wrong with the reporting. 

Edited by Glacier
Bad Spelling

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4 hours ago, Glacier said:

They can report it correctly until 7 years and 6 months from DOFD.  So, please tell the CFPB what is wrong with the reporting. 

That is exactly what I did tonight lol

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BE CAREFUL!!! Depending on which state's laws govern this matter, you could inadvertently restart the statute of limitations clock by confirming that you owe the debt.  Be very careful what you say to PRA and how you say it.  Do not acknowledge the debt as yours.

 

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7 hours ago, Burdell said:

BE CAREFUL!!! Depending on which state's laws govern this matter, you could inadvertently restart the statute of limitations clock by confirming that you owe the debt.  Be very careful what you say to PRA and how you say it.  Do not acknowledge the debt as yours.

 

I didn’t do that. And regardless I also have letter stating they won’t sue because of the age of the debt. Only way the clock would restart is by making a payment which I didn’t do

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On 12/17/2018 at 4:46 AM, wj2005 said:

Since when.... I thought they never pfd according to all the posts I have read on all forums out there

Its a policy thats about a year old. It started with Midland and the other major agencies started to follow suit.

 

 

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On 12/26/2018 at 10:01 AM, dvd said:

Its a policy thats about a year old. It started with Midland and the other major agencies started to follow suit.

 

 

I must have missed that because I never saw it lol. But good to know if my cfpb complaint doesn’t work. But I wonder if they are shutdown with the government shutdown?

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I had just paid to PRA on the 17th of December for a collection and it has been updated to :

PORTFOLIO RECOV ASSOC has flagged your account as Settlement Reported.

Settlement is an agreement with a lender to repay only part of your original debt. Settling an account may negatively affect your Credit Scores.

 

So at this point, it is still showing on my collection report, however the amount owed has no amount left. I haven't called or disputed this thus far, but I did receive the same PFD letter in the mail showing the account would be deleted from the CRA reports as others have said earlier. They do have technically 30 days to have it removed, from which in my case, is January 17th, being it was paid on December 17th. 

 

I will update on this post so that any others can use it as a reference as well.

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Posted (edited)

Here is the response they gave through the CFPB:

 

In response to your complaint, Portfolio Recovery Associates, LLC (“PRA”) investigated and verified the PRA accounts ending in xxxx and xxxx and the accuracy of the information we furnished regarding the accounts to the consumer reporting agencies in accordance with industry guidelines. PRA purchased the Capital One Bank (USA), N.A. ("Capital One") account ending in xxxx, together with the right to receive payment of the balance due on the account, on or about December 2016. Business records provided to PRA by Capital One at the time of our purchase verify that the account was opened on February 2015, for (my name) whose social security number ends in xxxx and that a balance of ($omitted) was due on the account at the time of PRA's purchase. PRA sent its initial notification letter to you on or about January 2017. PRA also purchased the Capital One credit card account ending in xxxx, together with the right to receive payment of the balance due on the account, on or about December  2016. Business records provided to PRA by Capital One at the time of our purchase verify that the account was opened on February 2015, for (my name) whose social security number ends in xxxx and that a balance of ($omitted) was due on the account at the time of PRA's purchase. PRA sent its initial notification letter to you on or about January 2017. PRA has no record of a response or a dispute being received in relation to its initial notification letters. PRA furnished information relating to your accounts to the consumer reporting agencies in accordance with industry guidelines including but not limited to the date of first delinquency which was May 2015 for accounts ending in xxxx and xxxx. PRA does not control the way in which the consumer reporting agencies report the information furnished by PRA. Accordingly, any differences in their reporting of the information which PRA furnishes is the responsibility of the consumer reporting agencies, not PRA. PRA’s records reflect that PRA previously received, investigated, and responded to a dispute regarding these accounts. In response to those disputes, PRA sent you the attached letters containing validation. We believe that the validation provided resolved the dispute and no further steps in response to your complaint or follow-up actions are required at this time.

 

they also submitted some pdf’s that doesn’t have a copy of the letter they supposedly sent in January 2017 but a letter they sent in 2018! 

 

They sent a copy of 1 statement from March 2015 on one account and 1 from oct 2016. 

 

So IF they are reporting this correctly and the cra is not then what can I do???

 

 

Edited by wj2005

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If you want this removed per the PFD agreement on the PRA website, better read it again. The way it's worded you have to pay the entire debt to qualify, not settle for a lesser amount.

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1 hour ago, legaleagle2012 said:

If you want this removed per the PFD agreement on the PRA website, better read it again. The way it's worded you have to pay the entire debt to qualify, not settle for a lesser amount.

Not what the one letter I got from them says

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On 1/4/2019 at 6:37 AM, wj2005 said:

Not what the one letter I got from them says

 

What did the letter say exactly?

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I went ahead and scanned the exact portion of the letter I received from PRA showing the payment options and the portion where it shows they are deleting the trade line approximately 30 days of receiving payment. There is no mention of having to pay in full to have the tradeline delted from the CRA's, and it doesn't show an option to even pay in full on this letter. The offer is to pay, either at a 1 time payment at a discount rate, or over 3 months, or 6 months as a payment plan. 

 

I have attached the actual copy as well showing the exact terminology. 

img002.jpg

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On 1/5/2019 at 9:37 AM, MaximumEffort said:

I went ahead and scanned the exact portion of the letter I received from PRA showing the payment options and the portion where it shows they are deleting the trade line approximately 30 days of receiving payment. There is no mention of having to pay in full to have the tradeline delted from the CRA's, and it doesn't show an option to even pay in full on this letter. The offer is to pay, either at a 1 time payment at a discount rate, or over 3 months, or 6 months as a payment plan. 

 

I have attached the actual copy as well showing the exact terminology. 

img002.jpg

Its a legit offer. So once they receive the agreed payment, they will send notification to the CRA to delete within 30 days. Did you take them up on the offer?

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Posted (edited)
15 hours ago, dvd said:

Its a legit offer. So once they receive the agreed payment, they will send notification to the CRA to delete within 30 days. Did you take them up on the offer?

Yes I took the offer and just paid in full right on their website on December 17th. So far the collection still shows on my credit reports and shows this:

 

PORTFOLIO RECOV ASSOC has flagged your account as Settlement Reported.

Settlement is an agreement with a lender to repay only part of your original debt. Settling an account may negatively affect your Credit Scores.

 

I guess they still do have technically 30 days, which would be about January 17th to have it actually removed from my reports though. 

 

 

 

 

 

Edited by MaximumEffort

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4 hours ago, MaximumEffort said:

Yes I took the offer and just paid in full right on their website on December 17th. So far the collection still shows on my credit reports and shows this:

 

PORTFOLIO RECOV ASSOC has flagged your account as Settlement Reported.

Settlement is an agreement with a lender to repay only part of your original debt. Settling an account may negatively affect your Credit Scores.

 

I guess they still do have technically 30 days, which would be about January 17th to have it actually removed from my reports though. 

 

 

 

 

 

I would send a copy of said letter to the cra and I bet you can get it removed quicker then waiting for this jokers!

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So I was pulling my reports to have up to date ones and my Equifax one it doesn’t list the original creditor, no account number, shows dept to credit @ 100%, shows as closed, account status as collection but account type as other, creditors classification as banking, loan type as debt buyer account, and does list dofd but it’s listed as 5-1-15 when it is a few days after that but that’s not a big deal I don’t think. One other thing is the account is listed under the other category and NOT under collection. 

 

I have typed up a letter to dispute but demand that these accounts be deleted from my credit report. 

 

I hope I’ll have a good chance to get these removed from this cr. 

 

Oh one one other thing is the response from PRA had 2 pdf’s (one for each account) and one of them had a statement from April 2015 and the other one had 2 statements from September and October of 2015 when it was charged off. They also said they sent letters in January of 2017 notifying me of these accounts with them BUT in these 2 pdf’s they included a letter dated February 28 2018 and another one march 28 2018 in response to my disputes. Problem is I never had a dispute in March and only in February... so are they making these dates up on the letters and submitted it??

 

i would think they would have included the original January 2017 letters with the cfpb complaint but they didn’t. 

 

 

 

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On 1/8/2019 at 3:04 PM, wj2005 said:

I would send a copy of said letter to the cra and I bet you can get it removed quicker then waiting for this jokers!

I'll give PRA a call tomorrow and see what the possible delay is in removing it from my reports. It seems that many others who have had PFD offers had their CAs deleted within about a week from payment.

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On 1/4/2019 at 8:18 AM, legaleagle2012 said:

If you want this removed per the PFD agreement on the PRA website, better read it again. The way it's worded you have to pay the entire debt to qualify, not settle for a lesser amount.

No, you don’t have to pay the full amount to qualify for a PFD

 

Your account will be considered paid-in-full or paid-in-full for less than the full balance after your final payment is successfully posted. Within approximately 30 days of your final payment successfully posting, we will request the credit reporting agencies delete the PRA tradeline related to your account from your credit bureau report.

Edited by Bluesie58

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On 1/8/2019 at 9:05 AM, MaximumEffort said:

Yes I took the offer and just paid in full right on their website on December 17th. So far the collection still shows on my credit reports and shows this:

 

PORTFOLIO RECOV ASSOC has flagged your account as Settlement Reported.

Settlement is an agreement with a lender to repay only part of your original debt. Settling an account may negatively affect your Credit Scores.

 

I guess they still do have technically 30 days, which would be about January 17th to have it actually removed from my reports though. 

 

 

 

 

 

I would contact PRA first and confirm the date they sent the deletion request to the CRA. Chances are they just do it all the updates once a month. Also, it takes time for the CRA to update. Experian is quick but the other two can take up to two weeks.

 

 

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On 1/10/2019 at 12:17 PM, dvd said:

I would contact PRA first and confirm the date they sent the deletion request to the CRA. Chances are they just do it all the updates once a month. Also, it takes time for the CRA to update. Experian is quick but the other two can take up to two weeks.

 

 

I contacted PRA yesterday over the phone and asked when the deletion would occur and they would only say that they request for deletion of the account, but do not control the timing as to when the CRA's would delete it themselves.

 

So far all 3 CRA's show that the payment was made however, and all reported so on the same day.  

 

I'll keep my posts updated for any others as a reference.

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