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Portfolio Recovery Associates License

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Pineknot69
Regular Contributor

Re: Portfolio Recovery Associates License

I haven't heard anything new. My fiance is the one with the collection but I believe his fell off.  I am sure the credit gurus here have some great ideas but for what it's worth here's mine. I would mail the company's legal department or administration a certified letter with a copy of the CFPB decision along with a demand that they remove the collections within x days to avoid further legal action...I always put a little note at the bottom that says CC: (insert a lawyer's name). Even if they were to contact the attorney, they would not be allowed any information about a potential case unless it was written...so let them know (or make them think!) you're serious. I would also include a copy of a formal complaint to the CFPB that would be mailed in X days if they did not remove the remarks. Make sure that you expect them to remove any and all remarks from all 3 bureaus and any other consumer reports ie Lexis Nexis. 

Message 11 of 15
OCIL
Valued Member

Re: Portfolio Recovery Associates License


@Pineknot69 wrote:

The CFPB actually fined them recently so if I were you I would mail the courts decision to Portfolio Recovery and demand they comply to avoid further legal action or just dispute the debt with the credit bureau(s) and then Portfolio would more than likely ignore the request to validate it which would be a basis for it's removal. Make any requests in writing RRR/ certified mail and demand they remove it per court order. Here is a link to the court order.

 

http://files.consumerfinance.gov/f/201509_cfpb_consent-order-portfolio-recovery-associates-llc.pdf

 


I read through the court order and it doesn't really give a chance for consumers ot have their accounts deleted from credit reports. However I did find an interesting part on pages 33-35 on this 60 page court order. I disputed my 3 accounts with them mid-October and they just updated the accounts; no findings plus made complaint with CFPB and no change but "consumer disputes information.... blah blah blah."

Starting Scores Jun 2015: Eq 556 TU 583 Ex 611
Current Scores 9/25/15: Eq 562 TU 571 Ex 587
Message 12 of 15
fury1995
Valued Contributor

Re: Portfolio Recovery Associates License


@Anonymous wrote:

Any update on this? I have 2 lines with PRA on my report that are paid IN FULL recently that I would love to have deleted off my report. 


When you paid these accounts, did they agree to delete?

August 28, 2023 FICO 8

August 28, 2023 FICO BankCard 8

August 28, 2023 FICO Auto 8

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Message 13 of 15
Anonymous
Not applicable

Has anyone heard anything about this? What does this mean...

Has anyone heard anything about this? What does this mean for us that have unpaid debts with PRA? On my CR PRA states " Dispute resolved; customer disagrees" I have not taken action towards PRA yet but wjat would be step one? Should I send a certified copy of CFPB court order, demanding the removal of listing from all 3 CR. Also, file a formal complaint with CFPB. I planned on sending them a PTD when I had the funds to pay, but now I am deciding on what my first move should be and if I should even send DV and/or PTD. Any advice/experiences would be greatly appreciated.
Message 14 of 15
Anonymous
Not applicable

Re: Has anyone heard anything about this? What does this mean...

I paid PRA in full before I found this forum. So I never did any type of DV, PIF deletion request or anything along those lines.  I did dispute them AFTER paying and PRA sent me some paperwork in the mail showing they did indeed own my debt, which I knew they did but figured Id try anyhow. So im now looking in a different direction and have found some mistakes on their behalf I believe will fall under the big mess they just had with CFPB so I filed  a complaint with both the BBB and CFPB.  Hopefully some good will come from it. Thats my last negative mark and the original creditor has already GW deleted theirs. 

Message 15 of 15
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