Jump to content

mysticspirit25

JH Portfolio debt equities/Asset recovery solution

Recommended Posts

Does anybody have any information on these people?  A charged off account was either transferred or sold to them but I've called to try to settle and they either say they don't have it or transfer me to another arm of the same company which your only option is to leave a voice mail.  Even their website is so generic a 3 year old could have created it.  I worry b/c the debt is RATHER LARGE upper 5 figures and to be so nonchalant on this $$ amount seems counterproductive.  You'd think a collector would be salivating at the possibility of collection on this amount.

 

The OC won't even discuss it with me and when I go through their automated system it merely transfers me to this outfit.

 

I've left like 5 messages for 2 weeks and no return call.

Share this post


Link to post
Share on other sites

JH Portfolio is a junk debt buyer. Check your CR, the OC should be reporting a zero balance and it should say it was sold. Upper five figures, huh? How upper? What state? Who was the original lender?

Share this post


Link to post
Share on other sites
Posted (edited)
1 hour ago, legaleagle2012 said:

JH Portfolio is a junk debt buyer. Check your CR, the OC should be reporting a zero balance and it should say it was sold. Upper five figures, huh? How upper? What state? Who was the original lender?

SOFI.  I've tried to call SOFI numerous times but they don't negotiate at all.  Trust me its up there.  It was a consolidation loan a few years back...well you can see where that got me. I funded my business which failed on my personal credit.  Big mistake.  When I type my SS into Sofi's system it transfers me to a generic voice mail at JH.  I find it odd that I have a sizeable settlement to offer the OC but they refused to take it yet sold to these people.  And I also elected ARB in written and via email.  They simply don't respond.

Edited by mysticspirit25

Share this post


Link to post
Share on other sites

SOFI can't accept your money. The debt has been sold to JH for pennies on the dollar. JH is now the entity you allegedly owe, not SOFI.

 

JH is a debt buyer not a debt collector. (Generally speaking, not legally speaking) JH will actually send debt collectors after you on their behalf. There's a few companies they use.

 

It's not enough to "elect" arbitration IMHO.

 

Actually file.

Share this post


Link to post
Share on other sites

Ruscorp is correct. You have to do more than "elect" arbitration. Go to the website of whatever company they specify and open a case. Arb usually does run off junk debt buyers because of the cost, but if this is near 100K they may take you up on it. If you are a good litigator you can make them burn through 100K in arb quickly. Those hearings cost $1500 per hour, and you can request them endlessly for every issue. One of our members made Citibank spend 1.2 million chasing 20K. They finally gave up, and the law firm they hired closed their doors.

Share this post


Link to post
Share on other sites
Posted (edited)
1 hour ago, legaleagle2012 said:

Ruscorp is correct. You have to do more than "elect" arbitration. Go to the website of whatever company they specify and open a case. Arb usually does run off junk debt buyers because of the cost, but if this is near 100K they may take you up on it. If you are a good litigator you can make them burn through 100K in arb quickly. Those hearings cost $1500 per hour, and you can request them endlessly for every issue. One of our members made Citibank spend 1.2 million chasing 20K. They finally gave up, and the law firm they hired closed their doors.

 

Correct, believe us the $200 or $250 (depending on AAA or JAMS) is a small investment to make to defend a "LARGE upper 5 figures" claim.

 

If I were you I would use to my advantage that JH suffers from an Achilles Heel: The right hand doesn't know what the left is doing.

Edited by ruscorp

Share this post


Link to post
Share on other sites
55 minutes ago, ruscorp said:

 

Correct, believe us the $200 or $250 (depending on AAA or JAMS) is a small investment to make to defend a "LARGE upper 5 figures" claim.

 

If I were you I would use to my advantage that JH suffers from an Achilles Heel: The right hand doesn't know what the left is doing.

I'd say.  Per the contract, I do not have to start arbitration, merely elect it.  The problem is SOFI won't talk to me they say they sold the debt and nobody at JH knows what the hell is going on and they can't find the debt.  I mailed both them and SOFI a letter electing arbitration and included the requisite contract and notified them that they are precluded from filing any type of lawsuit.  I guess they could but I'd file a MTC and the case would be thrown out.  Regardless of the amount of the debt, I have a chapter 7 in my back pocket if they don't settle.  Its take what I offer them or get nothing, I really don't care.  I'd rather settle and not file a 7 but I will if I have to.

Share this post


Link to post
Share on other sites
2 hours ago, mysticspirit25 said:

I'd say.  Per the contract, I do not have to start arbitration, merely elect it. 

I've hinted really hard here.

 

PM me if you want to talk.

Share this post


Link to post
Share on other sites

Electing is taken as an empty threat and a stalling tactic. Start a case. If they can't find the file that's their problem. The original creditor cannot and will not talk to you.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines