Ready to settle with debt law firm. Need advice on doing it the right way.

[Alpha123]

So I talked with the law firm representing portfolio recovery. They offered me a 65% settlement. I'm going to go to their office and get their settlement letter, then go to court and show the judge the settlement letter and bring a certified/cashiers check for the amount.

The collector said they had never heard of PFD and once paid, the portfolio recovery will show the account as settled in full on my CR.

The debt is still well within the SOL and they're suing me in court so I think this is my best course of action. Any thoughts on how to make sure I'm covered in this process?

[guiness56]

Make sure the attorney files a satisfaction letter with the courts.  I'm not sure the court will do it even if you pay them directly.

Portfolio said they never heard of a PFD?  They are feeding you a line of BS.  But, if they won't accept it, start sending GW letters.

[koky]

Try pressing for a PFD... And if they agree ask for a letter or document to state so...

[Alpha123]

Thanks all. This forum is such a great help. I'm dealing with a collections person at the law firm that represents portfolio. They're the ones I have the settlement agreement with and they're the ones saying they don't do PFD. Am I dealing with the wrong people? Should I be dealing directly with Portfolio and not the attorneys office?

[guiness56]

You could contact Portfolio since they are the judgment creditor but they could just send you to the attorney.

[koky]

I had a similar situation, where the attorney was assigned to recoup the money, but wasn't responsible for the CR or Deletion... You best bet is settle the account and send some GWs...

[unusuallyconfused]

I'm sorry to read about the troubles that you're having and I don't really have anything to add because I don't know your situation but I read the "Porfolio Recovery Associates" name and my blood instantly boiled and I just have to rant a bit:

they are the worse of the worse scum on Earth. Worse than leeches and perhaps the most criminal bottom feeders ever to grace our planet Earth.

I feel better now. Thanks.

[Shogun]

I see what you are saying.  You are dealing with the law firm that Portfolio has contacted for your account.  The law firm is not reporting, they are just the legal representitives.  Once you have this settled, try the GW route.  Good luck!

[RobertEG]

You currently have a pending action on their part seeking a judgment?

If so and you reach a settlement, the plaintiff can simply withdraw their action, as there is no more debt at issue.

Is the court date imminent, and thus no time for them to withdraw their action before trial date?

If so, have the signed agreement with you.  The judge will simply ask the plaintiff if that represents their agreement, and if so, there is no basis for a trial.

[guiness56]

I think I misread the post.  It looks as though no judgment has been reached and the OP is trying to settle before the court date. 

Yes, do what you originally stated you were going to do.  Take the settlement letter to court and show the judge.