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Is Portfolio Recovery Assc reporting correctly?
Nov, 2013 |
Aug, 2012 |
Aug, 2011 |
$660 |
Open Account |
Individual |
Factoring Companies |
No contact information provided by Equifax
$660 | 120+ days past due | $660 |
0 times |
0 times |
0 times |
I don't see anything wrong with it. They are reporting the worst delinquency from when they acquired to account from the OC.
Didn't think they could report it as past due since you never had a payment agreement with them.
They aren't reporting monthly delinquencies, just the status of the account when they acquired it from the OC.
Ok. I thought with a CA, they could only report their current status. I know an OC can report whatever the last status was.
But we continue to learn!
PRA hired a law firm to sue so I scurried to pay them as to prevent any type of judgement. i payed the law firm and they said that because I paid with a debit card it would take 90 days to update the file as they have to make sure I don't dispute the payment with the bank... Has anyone ever heard of this before?
@MackkD wrote:PRA hired a law firm to sue so I scurried to pay them as to prevent any type of judgement. i payed the law firm and they said that because I paid with a debit card it would take 90 days to update the file as they have to make sure I don't dispute the payment with the bank... Has anyone ever heard of this before?
Yes, I think it is not right, nor makes sense but I have seen that happen before.
Problem with it is according to the FCRA the are supposed to update immediately.
And, not that your are, but, what would stop someone from disputing after a payment was posted.
I agree with guiness on this one. Now that it's paid, any reporting that does not reflect that is willfull incorrect reporting and a violation of the FDCPA. I would notify them of that.
In my opinion, it may be a bit premature to dispute or file formal complaints. Up to you, but I dont see willful misreporting.
No question that once it is paid, they must promptly update the current balance remaining under collection as $0. FCRA 623(a)(2).
They have informed you of their business decision that they wont consider it officially paid until the stated period.
If there is some provision of your state code that makes that improper, there may be basis. I would have cite to such code prior to pursuing the time period they have stated will be their update.
If you wish to pursue, you have several alternatives. If there is an assertion of clear non-compliance with the FCRA, which in this case would be FCRA 623(a)(2), they you can file a dispute under the FCRA (either via the CRA or by way of direct dispute) and/or a formal complaint with the CFPB.
Since resolution of either of those paths will put you near their promised reporting date, then I personally would wait until their stated period has expired before pursuing a formal complaint.
A BBB complaint is informal, and is directed at complaining about their business practices. It has to periods for their response or requirement that they even respond.
That will also be a lenghty process Again, I would wait for their stated period to expire before pursuing.
In the event that you wish to later pursue GW requests with them, complaints or disputes may not leave a feeling of good-will.