Cap One CO Account (Portfolio Recovery Associates Collection Letter)

[Anonymous]

I am now at my wit's end after opening my mail last night.

I'm resurrecting this msg because I just received a letter from Portfolio Recovery Associates about my old Cap One CO for $1288.41

Herein lies the problem.

I've been working so hard to delete the baddies and my FICO scores are improving. I need to buy a condo by April 2008 and I cannot afford for a CA to hit my CR's. I just checked TrueCredit this am and nothing reported as of today.

I sent a FOAD letter to them on July 9th 2007. I didn't send it CMRRR but now I know better.

I went through my old CR's this am and following are the results from previous reporting:

EX: 30 days as of 11-1999 on Aug 24 2004 report (is this my DOFD?)

EX: 30 days as of 10-1999 on May 08 2006 report

EQ: DOFD 01-1999 (DOLA 11-1998)

I don't have any old reports from TU with Cap One on them.

My TrueCredit report shows 3 soft inquiries from Cap One bank on 4/22/06.

I know that this is beyond my state's (IL) SOL.

What can I do now to prevent this from going to my CR's?  

[Anonymous]

Portfolio Recovery Associates is scum, I just recived a letter from them too saying they bought an account that I had with providian (credit card) that had fallen off my credit report after the 7 year limit. And past my states SOL. They seem not to follow the FCRA either.

[Anonymous]

IF you are positive of the dates - A C&D to Portfolio (again) - if it hits your reports then a dispute with the CRAs, if it verifies a lawsuit against Portfolio ($1K for each time they report) and the CRA for allowing it.  BTW, not being able to buy your condo because of their violations can be considered 'damages' - be real nice if they ended up making the downpayment for you.

[Anonymous]

Actually, any debt outside of SOL and past reporting dates they can attempt to collection on - they just can't sue or report.  It's called junk debt and it can be very profitable (they pay 1-2 cents on the dollar to acquire it) so if they can get a couple hundred on a $1000 debt they have made money.  It is nothing more than an attempt to make money - and believe me they know the rules and hope that the consumer doesn't.  Once they learn that you know what's up - they usually back off.

[Anonymous]

Morning Lady Scarlet,

I am 100% positive about the dates and have the old CR's in front of me showing these dates.

So they really can't report this, right?

I will continue with another letter via CMRRR.

Thank you for your help. I lost sleep over this last night.

[Anonymous]

can't and 'legally able' are two different concepts... just because they can't legally doesn't mean that they won't try - it does mean you can make them pay for their actions if they do.

[Anonymous]

Got it - Thank you !!

Last night I thought all of my efforts just went down the drain.

[fused]

A CA can still try and sue even if you're past the SOL, but your defense in court would be just that, it's past SOL.

[Anonymous]

Understood fused but based on the detail is it still possible that this can be reported on my cr's?

I really can't afford to have this hit.

[Anonymous]

Below is the letter I plan to send to Portfolio based on their collection efforts for this debt. I hope and pray that it doesn't hit my cr's but thought I would send it to the forum for feedback before I CMRRR it.

Thank you in advance for your assistance.

Portfolio Recovery Associates, LLC

PO Box 12914

Norfolk, VA 23541

Re: Account/Ref No xxxx

October 30, 2007

I received a letter from your office dated 10/16/07 over an alleged debt from I have no knowledge about a past due amount owed to Capital One Bank

Under IL State Code the subject account has a 5 year limit for filing any legal action or collection.

The starting date of this statute of limitations being either, the date of the last mutual activity, or the date of first default with the ORIGINAL CREDITOR of the subject account. The ORIGINAL CREDITOR being 1999, which you stated in your dunning letter to me dated 10/16/07.

This notification is formal notice to you that any filing of such action by you, or your representatives or assigns, is therefore time-barred.

What you are attempting to do is clear, and continued collection activities, including reporting, verification or insertion of accounts, beyond their legal collection date, to any consumer credit reporting agency, may be considered extortion and/or fraud and subject to criminal as well as civil prosecution.

Please note that proof of your receipt of this notice may be used by me or my legal representative in further action.

Since this alleged debt is clearly past the legal time frame for continued collection activity, you will cease any further contact with me.

You are not to sell, transfer, assign, or share any information about me or this alleged debt with anyone else.

Sincerely,

Xxx

xxxxxx

Chicago, IL xxxxx