Credit Card Center Advertiser Disclosure†
11-23-2012 03:54 PM
So I was at the casino gambling (I know!) and my wife sent me a picture mail of a letter she received in the mail for me. I could see that it was from PRA but I couldn't read it as the text was too small. I just got home and it reads:
Portfolio Recovery Associates, LLC ("PRA") has concluded its investigation of your dispute and is closing your account. PRA filed a Universal Data Form electronically requesting that the three major credit reporting agencies delete PRA's trade line for this account on your credit reports.
Please allow up to 60 days for each of the three major credit reporting agencies to update their records accordingly.
Now, I don't believe I ever disputed PRA through the CRA's and the only communication I have EVER had with PRA was a SINGLE e-mail I sent to an executive 14 days ago. The e-mail I sent read:
This e-mail is in response to your credit report entry on 01APR11 related to the debt listed above. There is no account number listed on the credit report entry, so I apologize that I cannot furnish that information. I would like to save us both some time and effort by settling this debt.
Please understand that this is not an acknowledgment nor acceptance of the debt, as I have not received any verification of the debt. Nor is this a promise to pay and is not a payment agreement unless you provide a response as detailed below.
I am aware that your company has the ability to report this debt to the credit bureaus as you deem necessary. Furthermore, you have the ability to change the listing since you are the information furnisher.
I am willing to pay $200.00 in return for your agreement to remove all information regarding this debt from the credit reporting agencies within TEN (10) calendar days of payment. If you agree to the terms, I will send certified payment in the amount of $200.00 payable to Portfolio Recovery Associates in exchange to have all information related to this debt removed from all of my credit files.
If you accept this offer, you also agree not to discuss the offer with any third-party, excluding the original creditor. If you accept the offer, please prepare a letter on your company letterhead agreeing to the terms. This letter should be signed by an authorized agent of Portfolio Recovery Associates. The letter will be treated as a contract and subject to the laws of my state of Indiana.
As granted by the Fair Debt Collection Practices Act, I have the right to dispute this alleged debt. If I do not receive a response within 15 days, I will withdraw the offer and request full verification of this debt.Please forward your agreement to the address listed above or e-mail it in any available and readable format.
11-23-2012 03:59 PM
It is a deletion, however since the debt has not been satisfied, there could be another CA pop up with the debt.
11-23-2012 04:01 PM
On a positive note, maybe you will get a more cooperative CA than PRA. We could only hope. Good luck!
11-23-2012 04:02 PM
Those were exactly my thoughts, and you were the one that provided me the e-mail I used. A PRA deletion is one to be happy about! Thank you Shogun!
11-23-2012 04:04 PM
You're welcome. I fought with them for over a year!
11-23-2012 05:16 PM
Oh you have NO idea lol. I laid on the floor and rolled away.
11-23-2012 05:23 PM
It's strange...like...part of me wants to call them and be like "I offered you $200 to delete, why didn't ya just take it so this can go away" and the sane part of me is like "let it go bro, you've seen people just completely give up on this particular company, walk away". I'm just so curious what type of paperwork error there was in this case. Obviously, I hope someone just shredded it's existence since HSBC could care less anymore, it's gone from their books.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.