Can anyone tell me the best course of action, I have a collection that is 150.00 owed to Portfolio Recovery Service, I sent them a couple pay for deletion letters they wont respond but every month they are updating my credit report as a delinquent account and I loose the new points I gain each month? Should I just pay them off or let it fall off my CR in another year?
TU 9/08 - 498 12/08 - 511
EX 9/08 - 564 12/08 - 511
EF 9/08 -562 12/08 - 573
the best course depends on what you are trying to achieve.
paying without an agreement to delete is generally not advisable
it sounds this is old and could fall off next year - i would just keep sending PFD letters until they cave in or it falls off.
if it's only a year away, i would also recommend to send a new letter every 15 days - every letter you deduct 5% from the amount offered...
I wouldn't be too concerned about their reporting. As far as I know, FICO-score doesn't depend on the date of their last reporting - the only thing that counts is the DOFD (Date of first delinquincy). When I was "new to the business", I always thought "**bleep**, they reported again so the fall-off day is delayed again..". Well, that's obviously wrong...
However, I'm surprised that they don't even react to your letters. Just shows they are a bad company - for debtors AND creditors since they are supposed to collect money, right?
A collection agency a bad company? LMAO!!! I thought the two went hand in hand!
Well, I would like to try and purchase a house ASAP, this is the only collection that I have. I have been successfull in getting the other 4 deleted....Thank You Goodwills!!!!!
Im just concerned with them updating my score won't go up.
December 11, 2008
Portfolio Recovery Associates, LLC
P. O. Box 12914
Norfolk VA 23541
Re: [Edited] for Original Creditor US Cellular
To Whom It May Concern:
This is to inform you that the validity of this debt is disputed. I am sure I have already paid this, but I cannot find the record of payment. After I found that my credit report showed a zero balance this account, I disposed of my old records. Furthermore, I have found out that the statute of limitations is soon to expire for this debt, and it will not even appear on my credit report at all next year.
In the spirit of compromise, I am willing to pay this account for the full amount shown in your October 21, 2008 Statement if you agree to immediate deletion of this account from any and all credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this settlement is merely to have this item removed from my credit files. It is not to be construed as an acknowledgment of liability of this debt in any form.
If you agree to the terms and accept this agreement, certified funds in the amount of One Hundred and forty seven dollars and seventy nine cent. ($147.79) will be sent to Portfolio Recovery Associates, LLC in exchange for full deletion of ALL references regarding this account from my credit files and full satisfaction of the debt. As certified funds will be used for payment, there shall be no waiting period regarding the deletion of this account from the credit reporting agencies.
Portfolio Recovery Associates, LLC agrees to delete ALL information regarding this account from the credit reporting agencies WITHIN TEN CALENDAR (10) DAYS following receipt of payment as specified above and will not discuss the terms of this settlement with anyone, excluding your client on this account.
If you agree to the above terms, please prepare a letter on your company letterhead explicitly agreeing to the same terms as the above settlement offer and have it signed by an authorized representative of Collection Agency. It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state.
Your response must be postmarked no later than 15 days from your receipt of this settlement offer or this offer will be withdrawn and I will simply wait for this item to be removed from my credit report sometime next year through the normal credit aging process.
Please address all correspondence regarding this account to:
I have a even worse collection company that reports a Failure to pay EACH month this debt was paid Its a old utility bill that is over 3 years old can They report this as a failure to pay each and every month Its totally driving my score down and down showing so many failure to pays each month... Its a little debt $113.00 They are destroy my credit over such a little debt that was paid... What can I do.. They are AH's .. Please advise...