Portfolio Recovery Next Step

Anonymous · ‎04-05-2016

Hello Everyone,

I am currently dealing with PRA on a charged off Capitol One account. They claim they own the debt and that I owe them in excess of $1900. I sent them a DV request certified mail and requested they provide documentation proving they own the debt, that I am legally obligated to pay them and the signed contract from the original creditor bearing my signature. All they sent was a copy of a statement from the OC, nothing else was included. In addition, the balance amount on the statement they sent was substantially less than the amount they claim I owe. What should I do now? Is what they sent sufficient to validate the debt? Prior to receiving their response to my DV they had sent me a notice stating my account was sent to their "litigation department" I am thinking of filing a complaint with the BBB as they have violated the FDCPA several times by calling my mothers house repeatedly even after she told them I do not live there. I have read that is the best chance of getting them to remove their trade line from the CRA's which is ultimately what I want to happen. Any advice on how to proceed is greatly appreciated!

bsal · ‎04-11-2016

I'm having the same issue it seems that your are in the right steps in filing with BBB let me know how it works out I'm very curious being that I am in the same boat you are in

Anonymous · ‎04-11-2016

I am in the same boat as you. I have a 610 dollar charge off from amazon that they claim is 1200 dollars and they want me to pay 1200 for a debt that was 600. I know collectors buy debt for cheaper. That is all they do send a statement as a validation. I am hoping someone else can chime in and help, that is the only charge off I have left. I hope we can all figure this out. I don't think it is right for a collector to buy a debt for cheaper and then come and try charge you double, there should be a law against that.

RobertEG · ‎04-11-2016

The FDCPA does set a standard for what a debt collector may attempt to collect.

The FDCPA says collectors can add fees or interest only if the amount is "expressly authorized by the agreement creating the debt or permitted by law." That requires having a copy of the original card agreement to prove the interest is permitted.

There is much case law covering the addtion of fees and interest, particularly after the creditor has taken a charge-off and thereafter ceased billing.

The outcome is usually pegged to the circumstances of each case, so it is hard to generalize, but additional accrual of interest after a charge-off and cessation of billing by a creditor often results in alck of ability under the law to continue to assess interest.

kennerchick · ‎04-11-2016

After disputing PRA for my husband and I it was removed from Equifax and then readded! I do not even understand why! I disputed that it was closed and PRA had no reason for collection since the account was closed! Listed in closed section on report and status was closed. Debt was unpaid and remains unpaid

Starting all over again!

kennerchick · ‎04-11-2016

@Anonymous wrote:
Hello Everyone,

I am currently dealing with PRA on a charged off Capitol One account. They claim they own the debt and that I owe them in excess of $1900. I sent them a DV request certified mail and requested they provide documentation proving they own the debt, that I am legally obligated to pay them and the signed contract from the original creditor bearing my signature. All they sent was a copy of a statement from the OC, nothing else was included. In addition, the balance amount on the statement they sent was substantially less than the amount they claim I owe. What should I do now? Is what they sent sufficient to validate the debt? Prior to receiving their response to my DV they had sent me a notice stating my account was sent to their "litigation department" I am thinking of filing a complaint with the BBB as they have violated the FDCPA several times by calling my mothers house repeatedly even after she told them I do not live there. I have read that is the best chance of getting them to remove their trade line from the CRA's which is ultimately what I want to happen. Any advice on how to proceed is greatly appreciated!

I also received a copy of something, nothing what I asked for and I'm to believe that's all they needed to send to verify the debt. If you get them removed, please let us know what we can do to get them removed. Been dealing with them and dispuiting them way too long now. Good Luck

Starting all over again!

Anonymous · ‎04-11-2016

@RobertEG wrote:
The FDCPA does set a standard for what a debt collector may attempt to collect.
The FDCPA says collectors can add fees or interest only if the amount is "expressly authorized by the agreement creating the debt or permitted by law." That requires having a copy of the original card agreement to prove the interest is permitted.

There is much case law covering the addition of fees and interest, particularly after the creditor has taken a charge-off and thereafter ceased billing.
The outcome is usually pegged to the circumstances of each case, so it is hard to generalize, but additional accrual of interest after a charge-off and cessation of billing by a creditor often results in lack of ability under the law to continue to assess interest.

How are we as the consumer to know what amount is expressly authorized by the agreement creating the debt. what do we do if we no longer have a copy of the original card agreement and these low life change the amount to something way greater than allowed. how can we determine that or get proof of that if they themselves don't provide us that information, where are they themselves getting this information from. you would think that if we dv them and ask them for the original agreement etc, they should be able to provide that without just sending us the final statement. these ca's get away with a lot.

Anonymous · ‎04-11-2016

Some agreements can be found online. There are not full guidelines on what Validation is unless in certain areas such as Texas. Sending a copy of a billing statement is often considered good enough.

Anonymous · ‎04-11-2016

but my point is if the final statement does show my final bill of say 600 and they are charging me 1200, should they not send me something to justify where the other 600$ charge came from and how it got to 1200 as it is now? I don't have the right to see where are they getting their interest or whatever calculation they are coming up with. I am just trying to understand further or maybe I don't have the right. Perhaps I am wrong. Just trying to make sense of it.