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JuCarr492

Rausch, Sturm, Israel, Enerson letter for Portfolio Recovery debt

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I have a Synchrony Bank debt that was listed on my credit report from Portfolio Recovery.  The orginal debt was from 2017 and PRA put it on my credit report last November.  I did not take care of it.  I ignored it.  But yesterday I received a letter from Rausch, Sturm....not a threat letter.  Just saying they have acquired this PRA debt and want payment for it.  My credit took a hit with the collection down 24pts.  And I really don't want to be sued and a judgment put on my credit.  I've worked very hard to improve my credit that last 4 years and it is my one and only collection on my credit and I just honestly got lazy with that one debt and procrastinated.  My question is, if I make payment arrangement with them to pay 100 a month(debt is 1271.00), will they not sue me and allow me to pay it off in 12 months and will they remove it from my credit report as well or will it stand?  I guess from everything I read about them online, I'm afraid of them suing me still in the middle of making good on it more than anything.  But would love for them to remove it from my report once I've paid it in full.  Any advice?

Edited by JuCarr492

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The receipt of a letter from a firm that does debt collection work does not mean litigation is lurking around the corner.  In MANY instances, it is no different than ANY OTHER collection activity. 

 

Payment arrangements can ALWAYS be negotiated.  Whether a deletion will follow depends on the entity in question as well as the ability of an individual to negotiate.  The key to successful negotiation is to not be afraid of the phone.  Once an Agreement has been hammered out, then it can be reduced to writing and executed by the parties.  Negotiations need not even contain an admission to ownership of the claim...all sorts of matters are resolved on a daily basis with no admissions of liability simply because it is cheaper than litigation. 

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14 hours ago, AlabamaSteve said:

So I can speak from personal experience. Raush Strum is sue happy. Call them, you can settle and Portfolio Recovery still owns the debt. Once paid off, they will remove it from your reports. 

"sue happy" is a jurisdiction-dependent issue.  I know of two people in Texas who had letters from them but never did anything other than dispute and never got served.  Whether it was due to being Texas or whether it was because the letters were SPECIFIC and NOT some cut and paste tripe, cannot say...but they never pursued litigation.  Both of those were on five-figure claims...

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On 2/8/2020 at 9:44 AM, centex said:

"sue happy" is a jurisdiction-dependent issue.  I know of two people in Texas who had letters from them but never did anything other than dispute and never got served.  Whether it was due to being Texas or whether it was because the letters were SPECIFIC and NOT some cut and paste tripe, cannot say...but they never pursued litigation.  Both of those were on five-figure claims...

I was sued by this law firm in Texas during 2019. They were collecting on behalf of a debt buyer called JHPortfolio for a CitiBank credit card that JHPortfolio had purchased. There are some soft pulls from them on my TransUnion credit report, so maybe check and see if you see any there. They may or may not be deciding whether or not you are worth suing with this information.  As always, YMMV.

 

I was successful at beating them in court. My attorney filed an answer and they basically gave up. For a $1,200 debt, I would just settle it. It's not that much money, but ultimately, it is your choice. It could turn into a lawsuit with these people, which would put you in the position of scrambling to come up with most of the money, if not all of it, in a short span of time. Since PRA still own it, I would contact them directly and settle it with them, if settling is what you want to do. They are known to delete the collection from credit reports 30 days after payment or settlement. It could be worth it to you to settle just for the deletion, but hey, if you don't want to spend the money, then I get it.

 

I had a couple of debts I did not settle during my financial disaster in 2017, which I am waiting out for the SOL to be up. I am less than a year away and have not been sued over either of those debts, and they are both upwards of $10k.

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