Newbie here, need advice on how to tackle certain credit issues

[Anonymous]

Hi everyone! I've been reading these forums for a couple of years but I am posting for the first time.

Trying to clean up my credit report. Just got a CAP 1 secured card and I am going for a BofA secured (have been banking with them for 15 years).

Just need advice on how I should tackle certain things on my credit report. Here is an example:

PORTFOLIO RECOVERY ASS

Account Number

Account Type

Collection

Terms

1 Month

Date Opened

05/01/2013

Account Status

Closed

Payment Status

Late

Payment Status Details

Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department

Status Updated

08/01/2013

Balance

$630.00

Balance Updated

-

Credit Limit

-

Past Due Amount

$630.00

High Balance

-

Monthly Payment

-

Balloon Payment

-

Contact Phone

(800) 772-1413

Contact Address

120 CORPORATE BLVD STE 1, NORFOLK, VA 23502

Ownership

Individual

Original Creditor

HSBC BANK NEVADA N.A.

Company Sold-to

-

Original Amount

$630.00

Comments

Thanks in Advance!

[Anonymous]

Anyone? Seriously? 

[Anonymous]

I'm not great at reading that stuff, but it looks like you have a collection with PRA.

They are hell to work with.

You have a couple options, you can try to PFD (pay for delete) which, btw, PRA is notorious for not accepting.

You can Pay, settle, and try to GW (good will) it away 

You can let it sit, age off, and hope no legal action is taken against you.

I just mailed my first PFD letter to them yesterday. I expect the offer to be rejected, or not hear back at all. I'll most likely PIF and try to GW it away.

[RobertEG]

When dealing with a reported collection, several preliminary issues are significant.

Can you provide the date of their dunning notice and the date of first delinquency (DOFD) on the OC account?

Additionally, do you acknowledge the legitimacy of the debt, or do you seek validation?