Portfolio Recovery

[K_J]

Okay, my DW sent out PFD letter to Portfolio Recovery for an account they bought from HSBC in 2007, on the letter she stated that she would pay the amount in full in exchange for a delete from the 3 CRA's. Today a rep from the CA called her and said they do not delete but would like to collect the amount. what do you guys think she should do? she is trying to clean up her credit before the end of the year.

[JohnPTEX]

I'm dealing with Portfolio Recovery now - my understanding is that they always say they won't over the phone, but several people on this site have had luck with the mailed PFD

[K_J]

Its just fustrating but I will have her send out another PFD letter. Thanks

[RobertEG]

What was the DOFD on the HSBC account?

I would first determine the DOFD, and thus the CR exclusion date and expiration of SOL on the debt, before deciding on how to proceed.

Compare those dates with when you next expect to app for new credit, thus getting an idea of whether CR exclusion after 7 years plus 180 days might not take care of your problem on its own.

[Anonymous]

If it's past SOL then I would send out more PFDs.  Try to go higher up in the chain and see if that helps.  A collection that is paid is just as bad as a collection that is not paid when it comes to your credit score. 

[JohnPTEX]

Yeah I spent hours on the phone with Portfolio Recovery on Saturday only to be berated by unhelpful person after unhelpful person - they are in my mail pile now

Edited:  I agree - PFD!  Don't pay only to be in same situation as before

[K_J]

I just check it is still within SOL and DW had this account before we got married so i am not sure what the DOFD is but her CR  has it reported 6/10

[K_J]

SUCKS!! who wouldnt take money to delete some remark.

 

[JohnPTEX]

I agree!  On Saturday they were willing to take less than 10% of the overall debt but absoltely refused to PFD it.  Oh well, we just have to trudge on!  I'm going to start a round of PFD mailers to them this week so we'll see how that goes.