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What to do about Portfolio Recovery??

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JohnPTEX
Frequent Contributor

What to do about Portfolio Recovery??

Ok I have a Cap One CC that was charged off when I was in college.  The debt is scheduled to fall off 09/2013 but has since been sold to Portfolio Recovery.  Portfolio Recovery is not reporting the debt, but is calling every day has really been harrassing me.  When I try to discuss the issue they immediately begin the verbal assault.  I would like to pay the debt as I do owe it, but I cannot bring myself to pay them.

 

Any suggestions??


Starting Score: TU:619 (02/24/2012) - EQ:629 (02/24/2012)
Current Score: TU:632 (06/21/2012) - EQ:672 (06/21/2012)
Goal Score: 740


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Message 1 of 16
15 REPLIES 15
Lois5669
Frequent Contributor

Re: What to do about Portfolio Recovery??

I would let them know that, for my records, I want all communications to be in written form via mail and to cease calling my home.  Maybe if everything is snail mail in writing, everyone's temper will mellow and you'll feel more comfortable paying them down the road.

 

I dunno..just thinking "out loud"


Starting Score: EQ = 550; TU = 491(2/10/12)
Current Score: EQ = 669; TU = 674(6/20/14)
Goal Score: 700+


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Message 2 of 16
thirtyshort
New Contributor

Re: What to do about Portfolio Recovery??

When I dealt with them the guy I had the pleasure of talking to was an @$$.  I disputed with the CRA and it fell off because they could not verify.  I only dealt with them for a month or so but I know that CA is not a good one to deal with.  I would not pay them either just because it's falling off soon.  I have no issues paying off old debt but I guess I'm like you and have a hard time handing off money to people who act like that. 

Message 3 of 16
SanFranMatt
Frequent Contributor

Re: What to do about Portfolio Recovery??

Have you called Capital One to ask whether you can pay them directly?  Do you have any major purchases over the next year and a half (like a mortgage, car loan, etc), or can you wait until it drops off on its own?  How much do you owe?

 

I'd recommend emailing their customer service department with a quick note, such as "I've been receiving calls at (Phone Number).  Going forward, I respectfully ask that you not call me anymore.  Please send any future correspondence by mail at the address you have on file"

Message 4 of 16
aot2009
Regular Contributor

Re: What to do about Portfolio Recovery??

Have you sent a dv letter to portfolio recovery?
Message 5 of 16
Repo-ed
Senior Contributor

Re: What to do about Portfolio Recovery??


@aot2009 wrote:
Have you sent a dv letter to portfolio recovery?


^^^This and use the letter that includes the stopping of calls and moving all forms of comms. to email, snail mail only.

5/2012: 560 credit scores across the board
12/2014: 750+
3/2017: 780+
11/2019: 833
2/2023: Experian via Chase United Explorer CC pull - 891
Message 6 of 16
aot2009
Regular Contributor

Re: What to do about Portfolio Recovery??

 

Send this to them certified letter it's about $3.65 with the stamp, I don't usually pay for the return receipt but I noticed when I deal with CA's and use certified letters they don't wanna play with me. They usually back right down.

 

 

 

 

To Whom It May Concern:

 

This is your written notification that all further communications shall only be made in writing to me at the above address. You are hereby required to cease phone communications from this point further and any additional attempts beyond date of this letter will enact my ability to file suit and collect funds of up to $1000K from your company persuant allowed to the FCRA laws provided. 

 

This letter is being sent to you because of a letter I received from your company concerning a debt that I owe. Be advised that this is not a refusal to pay, but a notice sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (b) that your claim is disputed and validation is requested.

This is NOT a request for “verification” or proof of my mailing address, but a request for VALIDATION made pursuant to the above named Title and Section. I respectfully request that your offices provide me with competent evidence that I have any legal obligation to pay you.


Please provide me with the following:

  • What the money you say I owe is for;
  • Explain and show me how you calculated what you say I owe;
  • Provide me with copies of any papers that show I agreed to pay what you say I owe including my signature for verification;
  • Identify the original creditor;
  • Prove the Statute of Limitations has not expired on this account
  • Show me that you are licensed to collect in my state
  • Provide me with your license numbers and Registered Agent
  • Provide to me a copy of the alleged original bill 


At this time I will also inform you that if your offices have reported invalidated information to any of the 3 major Credit Bureau’s (Equifax, Experian or TransUnion) this action will constitute fraud under both Federal and State Laws. Due to this fact, if any negative mark is found on any of my credit reports by your company or the company that you represent I will not hesitate in bringing legal action against you for the following:

Violation of the Fair Credit Reporting Act

Violation of the Fair Debt Collection Practices Act

Defamation of Character


If your offices are able to provide the proper documentation as requested in the following Declaration, I will require at least 30 days to investigate this information and during such time all collection activity must cease.

If your offices fail to respond to this validation request within 30 days from the date of your receipt, all references to this account must be deleted and completely removed from my credit file and a copy of such deletion request shall be sent to me immediately.

It would be advisable that you assure that your records are in order, and you will also notice this letter was sent via certified mail to your company.

Sincerely,

 

John Doe

Message 7 of 16
rckstrscott
Valued Contributor

Re: What to do about Portfolio Recovery??


@aot2009 wrote:

 

Send this to them certified letter it's about $3.65 with the stamp, I don't usually pay for the return receipt but I noticed when I deal with CA's and use certified letters they don't wanna play with me. They usually back right down.

 

 

 

 

To Whom It May Concern:

 

This is your written notification that all further communications shall only be made in writing to me at the above address. You are hereby required to cease phone communications from this point further and any additional attempts beyond date of this letter will enact my ability to file suit and collect funds of up to $1000K from your company persuant allowed to the FCRA laws provided. 

 

This letter is being sent to you because of a letter I received from your company concerning a debt that I owe. Be advised that this is not a refusal to pay, but a notice sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (b) that your claim is disputed and validation is requested.

This is NOT a request for “verification” or proof of my mailing address, but a request for VALIDATION made pursuant to the above named Title and Section. I respectfully request that your offices provide me with competent evidence that I have any legal obligation to pay you.


Please provide me with the following:

  • What the money you say I owe is for;
  • Explain and show me how you calculated what you say I owe;
  • Provide me with copies of any papers that show I agreed to pay what you say I owe including my signature for verification;
  • Identify the original creditor;
  • Prove the Statute of Limitations has not expired on this account
  • Show me that you are licensed to collect in my state
  • Provide me with your license numbers and Registered Agent
  • Provide to me a copy of the alleged original bill 


At this time I will also inform you that if your offices have reported invalidated information to any of the 3 major Credit Bureau’s (Equifax, Experian or TransUnion) this action will constitute fraud under both Federal and State Laws. Due to this fact, if any negative mark is found on any of my credit reports by your company or the company that you represent I will not hesitate in bringing legal action against you for the following:

Violation of the Fair Credit Reporting Act

Violation of the Fair Debt Collection Practices Act

Defamation of Character


If your offices are able to provide the proper documentation as requested in the following Declaration, I will require at least 30 days to investigate this information and during such time all collection activity must cease.

If your offices fail to respond to this validation request within 30 days from the date of your receipt, all references to this account must be deleted and completely removed from my credit file and a copy of such deletion request shall be sent to me immediately.

It would be advisable that you assure that your records are in order, and you will also notice this letter was sent via certified mail to your company.

Sincerely,

 

John Doe


Couple things about all of this..

 

1. The DV letter only stops collection and contact efforts if it is in response to a dunning noticication

2. Most of what you are demanding in that letter is not covered by the FDCPA. In fact, most of what you are asking is only required for legal discovery in an actual lawsuit.

3. There is no time limit at all to respond, nor are they required to unless it is in response to a dunning. Additionaly, there is no statutory time frame in which you 'need to investigate' on your own

4. Portfolio Recovery Associates will take ANY request you make to attempt to cease contact by phone as a cease and desist. And they will then refuse to negotiate a PFD while this is in effect. If you send written requirement CMRRR to stop contact by phone and only by mail, they will use this against you. They are jerks, and we know this. I had a real big headache trying to get them to work with me after I sent a letter asking for contact by mail only.

 

Simple DVs are always the best way to go. However, as this doesn't appear to be a response to a dunning notification, there is no stipulalation that they even respond to  you. 

 

I don't like wordy DV letters.. The closer they get to sounding super legalese, the more anyone with any real knowledge of the FDCPA and FCRA can immediately tell you probably don't know the extent of the statutes being referenced.. PRA skirts the law as it is, no length of letter is going to compel them to stop their ways..

 

I am happy you have had success with this letter, but not every company is ignorant to the law. PRA knows this game.. DV letters rarely prompt removal from them, unless the genuninely have zero documentation on the debt.

 

-scott

Starting FICO Score: October 2010: TU 498 | EQ: 502
Current FICO Scores:: May 2022: TU: 784 | EQ: 770 | EX: 790
Message 8 of 16
RobertEG
Legendary Contributor

Re: What to do about Portfolio Recovery??

You can DV without a prior dunning notice.  There is no requirement to have received dunning notice prior to sending a DV request.  Any DV is timely until they have (1) sent you dunning notice, and (2) 30 days have passed since the date of the dunning notice.

 

I whole-heartedly support the advice NOT to include all of those non-statutory provisions in a DV.  Simply request verification of the debt, and if additionally desired, the name and address of the original creditor. 

Message 9 of 16
Anonymous
Not applicable

Re: What to do about Portfolio Recovery??

These peope are awful! They bought a debt my spouse had almost 15 years ago and somehow got his cell # and have been calling twice a day since. I'm not sure you can request for them not to call you since the debt is valid but I just set his phone to send all blocked/their numbers straight to voicemail. And be wary, they kept trying to put their collection on his report 10+ years after the CC was charged off, after the second or third dispute with the CRA's they never did it again.

Message 10 of 16
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