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New Member
Posts: 3
Registered: ‎04-17-2014
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Portfolio Recovery Help

I'm wondering if someone can help me.  I'm looking at my TU and see that Portfolio Recovery is reporting that I made a payment.  It looks like this:

 

Placed for collection: 03/23/2010

Last Payment Made:  02/23/2009

 

Since I've never made payments to them, can they report like this?  I plan to dispute this and wondering if they possibly delete because of this error.  If that doesn't work, I'm going to try a PFD.  By the way, this was an HSBC credit card that was charged off, if that matters.

 

New at this so forgive my ignorance...I was using Lexington for credit repair...even though my scores have increased in the last few months I've decided to drop them, save that money, and tackle the rest of this stuff myself.  They're pretty much useless at this point in the game.  Most of the time, I don't know what they are disputing.  This forum has been very helpful but lots of stuff to weed through!

 

Thanks in advance to anyone who responds! 


Starting Score: Sept 2013 TU: 529 EX: 545 EQ: 489
Current Score: April 2014 TU: 646 EX: 530 EQ: 602
Goal Score: 750


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Moderator
Posts: 27,943
Registered: ‎12-13-2013
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Re: Portfolio Recovery Help


steffic4 wrote:

I'm wondering if someone can help me.  I'm looking at my TU and see that Portfolio Recovery is reporting that I made a payment.  It looks like this:

 

Placed for collection: 03/23/2010

Last Payment Made:  02/23/2009

 

Since I've never made payments to them, can they report like this?  I plan to dispute this and wondering if they possibly delete because of this error.  If that doesn't work, I'm going to try a PFD.  By the way, this was an HSBC credit card that was charged off, if that matters.

 

New at this so forgive my ignorance...I was using Lexington for credit repair...even though my scores have increased in the last few months I've decided to drop them, save that money, and tackle the rest of this stuff myself.  They're pretty much useless at this point in the game.  Most of the time, I don't know what they are disputing.  This forum has been very helpful but lots of stuff to weed through!

 

Thanks in advance to anyone who responds! 


They cannot report an account with a payment history like an OC can. If they are trying to list a DOFD then it should state DOFD..


EX Fico 08 Bankcard 08/16: 811 (+7) EX Fico 8; 783 (0)
TU Fico 8 08/16: 777(-3)
EQ Fico 8 08/16; 778 (0)
New Member
Posts: 3
Registered: ‎04-17-2014
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Re: Portfolio Recovery Help

Thanks gdale6!  Any suggestions on how to word the dispute with them?  Are there any FCRA statutes I can reference?  Not sure....


Starting Score: Sept 2013 TU: 529 EX: 545 EQ: 489
Current Score: April 2014 TU: 646 EX: 530 EQ: 602
Goal Score: 750


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Moderator
Posts: 14,051
Registered: ‎04-15-2011
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Re: Portfolio Recovery Help

Since the date they listed was before they acquired it, I'd say they were listing the last payment made to the OC.  That's perfectly legal.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
New Member
Posts: 3
Registered: ‎04-17-2014
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Re: Portfolio Recovery Help

Ok thanks.  All of this is a mess.  My Experian shows that I made $55 payments from 04/12 through 06/13 (never made payments, never agreed to, never talked to them).  Although they don't show a monthly payment amount, they do show terms of 1 month.  It also shows reported since 01/2014 (it's been reported since at least 2010, it was definitely on my 09/2013 report) but the date opened is 03/2010.  Does that mean they re-aged it?  I've heard that happens when you start disputing, which Lexington Law did late last year.  Not that I have any idea what exactly they disputed, of course.

 

Thanks everyone!  Sorry for what may be stupid questions but I'm learning a lot here...


Starting Score: Sept 2013 TU: 529 EX: 545 EQ: 489
Current Score: April 2014 TU: 646 EX: 530 EQ: 602
Goal Score: 750


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Moderator
Posts: 14,051
Registered: ‎04-15-2011
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Re: Portfolio Recovery Help

If you didn't make any payments, then they shouldn't be showing any.  Terms on collections are always 1 month, so no problem there

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Moderator
Posts: 14,051
Registered: ‎04-15-2011
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Re: Portfolio Recovery Help

Places like Lexington Law just dispute everything, that can cause problems.  You need to find the DoFD of the account to find its age.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Community Leader
Epic Contributor
Posts: 26,290
Registered: ‎03-19-2007
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Re: Portfolio Recovery Help

[ Edited ]

Wait a minute.............

You had a credit repair organization file a dispute without your knowledge of what was asserted to be an inaccuracy?

Unless they simply filed a frivolous dispute that provided no basis for an asserted inaccuracy, how did they know you considered it to be inaccurate, and how did they document the assertion?  Assertion of inaccuracy would require consultation and info from the consumer in order to support a dispute.

If they are filing disputes without providing a basis for an asserted inaccuracy, they are not complying with the requirements for filing a dispute.

 

Something is wrong in that scenario.

Disputes without basis provided by the consumer should, at best, be summarily dismissed by the CRA as frivolous or irrelevant, and even if not dismissed by the CRA and put into the investigatin process, will put the furnisher in the untenable postion of not having adequate information to investigate the "dispute."

They might then respond back to the CRA that they have not investigated, and the CRA could interpret that, not as basis to dismiss the dispute, but rather as lack of verifcation, leading the CRA to delete due to lack of verification. 

Perhaps that is their game plan.  If so, it is a misuse of the dispute process.

 

And, of course, if they are filing direct disputes with the furnisher, regardless of consumer input, they are barred from doing so under FCRA 623(a)(8).

 

I would be interested in what they have disputed without your prior input and approval.

Are they providing you with the CRA findings and Notice of Resuts of Reinvestigation for these "disputes"?

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