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Unsure of Action to take with Portfolio Recovery- Help!

Established Member

Unsure of Action to take with Portfolio Recovery- Help!

Hey everyone! I have an old collection on my CR for a credit card from Wells Fargo passed onto Portfolio. Original amount was 700, now its 1150 or something. It is now past its SOL. I sent a debt validation letter last year and I did not get the information I wanted. Now I have a 'Consumer disputes after resolution' comment. There was no resolution in the first place. The debt is due to drop off March 2015. I was wondering should I pay it all off? Offer a PFD letter and pay a lower amount? Or just sit tight and wait? If I was to do PFD letter, could you please PM me any info about your experiences with these lads in the past? Thank you so much. Stuck on a 623 FICO score and need to build it soon!

Message 1 of 17
16 REPLIES
Valued Contributor

Re: Unsure of Action to take with Portfolio Recovery- Help!

Good luck with PRA and drink plenty of alcohol.

Scores: about 700 across the board
Total CL: $275k
Message 2 of 17
Moderator Emeritus

Re: Unsure of Action to take with Portfolio Recovery- Help!

Try a PFD, maybe you could have some luck.

 

     I am writing you in reference to account# XXXXXX that appears on my credit report.  I do not recall this account and I am unsure of it's origins.  I am aware that this debt is past the SOL of my state.   Although this account is unknown to me, in an effort to clear this matter and settle this debt I am willing to make a gesture of good faith and pay $whatever to resolve the debt if you are willing to return said gesture and delete this account from my credit report.   I thank you for your time and await your answer.  Thank you.

 

 

Try something like that.  Good Luck

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!

June 2017 update: All scores over 820, just pure gardening now.
Message 3 of 17
Established Member

Re: Unsure of Action to take with Portfolio Recovery- Help!

Thank you Shogun very much. I think I'll just keep PFD'ing them. Is there an e-mail address that has proved productive in the past?

Message 4 of 17
Moderator Emeritus

Re: Unsure of Action to take with Portfolio Recovery- Help!

Sent, check your mailbox.

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!

June 2017 update: All scores over 820, just pure gardening now.
Message 5 of 17
Regular Contributor

Re: Unsure of Action to take with Portfolio Recovery- Help!

Use the search button
 photo ficos3.jpg
Message 6 of 17
Regular Contributor

Re: Unsure of Action to take with Portfolio Recovery- Help!

They are difficult to deal with....I attempted to PFD and then decided to settle after rounds and rounds of NO from them.  Then I called to check on the status of my updated after I paid them and they stated they are in the process of updating and removing the account.  Removing? I thought and called again to double check and sure enough they did remove and is now off my credit report.  I am not sure if I just got lucky or what the scenrio was but it did get removed after settlement.  Good luck 

 

Message 7 of 17
Established Member

Re: Unsure of Action to take with Portfolio Recovery- Help!

Thank you all so much. I got an email the day after I contacted them with this response:

Thank you for contacting Portfolio Recovery Associates.

 

We have investigated your dispute, determined to close the account you referenced, and will request that the credit reporting agencies delete our trade line for this account

 

Is that a result or what!!!!

Message 8 of 17
Moderator Emeritus

Re: Unsure of Action to take with Portfolio Recovery- Help!

That's the response we wanted!!!!!!  Congrats!

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!

June 2017 update: All scores over 820, just pure gardening now.
Message 9 of 17
Highlighted
Valued Contributor

Re: Unsure of Action to take with Portfolio Recovery- Help!

That's the response that I want!! **bleep**!

 

/end rant

Scores: about 700 across the board
Total CL: $275k
Message 10 of 17