topic Re: How would you respond to this?? Help! in Rebuilding Your Credit

How would you respond to this?? Help!

bmblbg — Wed, 30 Jan 2013 19:26:56 GMT

After a million attempts to make Portfolio Recovery go away (for crying out loud, it's an invalid collection!!), I've had no luck. Finally I filed a complaint with the FTC/AG/BBB (yeah...I know.... LOL)

In addition to some other arguments- all of which I can refute- Portfolio's response was:

we are constrained by law, regulation and industry guidelines from requesting that the credit reporting agencies delete our trade line for this account.

So- what should I say to this? I know that they can delete, but...is there something I can use to back this up instead of sounding like a school kid and whining that I see other people get this nice happy favor?

Re: How would you respond to this?? Help!

jadeite788 — Wed, 30 Jan 2013 19:33:04 GMT

I am not sure if you disputed it with the credit bureau that has that particular collection. I would make sure the debt was vailid first. What makes it invalid in your eyes? Do you have proof?

Re: How would you respond to this?? Help!

bmblbg — Wed, 30 Jan 2013 19:38:14 GMT

It is invalid because the OC was paid in full. I spoke with HSBC this morning and they advised me that they show the account as paid in full. I have asked Portfolio for DV- they assert to the CRA's and the AG that they sent a response. Nothing has ever been received. I have requested HSBC to send me documentation so that I can send this to the CRAs. I have done direct dispute with Portfolio, I have done disputes through the 3 CRAs. All have come back as verified. So- now I'm in this process...and I have to send my response to the AG today. They have sent me "several points" (their words) that PRA has made, and request that I "provide a detailed response to each point."

Re: How would you respond to this?? Help!

ktl72455 — Wed, 30 Jan 2013 19:53:40 GMT

So- what should I say to this? I know that they can delete, but...is there something I can use to back this up.

I know some one posted it recently , they put it at the bottom of thier good will letters. I am still looking for that simple litttle phrase as well.

Its something along the lines that if they report, it must contain correct information but they are not legally required to report a debt that is paid and can remove the information.

I'll keep looking as well :-)

Re: How would you respond to this?? Help!

IOBA — Wed, 30 Jan 2013 20:12:33 GMT

bmblbg -

Is Porfolio the in house collection agency for HSBC?

Was the account ever delinquent with HSBC?

What are the points that the CA has made that the GA wants you to respond to?

****

I fought a similiar situation where a CA NEVER had the collection (they were in house for the hospital) but reported the debt more than a year AFTER it was paid directly to the OC. The CA maintains that money was owed to the hospital therefore, they had every legal right to report it. This was the kick in the ribs after DH came back from AFG, injured, and had to surgery. I knew there would be some financial responsibiity on our end (isn't there always??) and tried to make arrangements in advance. Biggest mistake I ever made!

Re: How would you respond to this?? Help!

bmblbg — Wed, 30 Jan 2013 21:05:16 GMT

Portfolio is not in-house collections, they're an external CA/debt purchaser. The account was delinquent with HSBC, but was PIF. The points were that they sent me DV (never got this), that the amount reported is correct, that they never report payment history (my reports on ACR show payments of $50 monthly for the past 17 months) but have requested that the CRAs delete anything they have related to payment history, and that they CAN report the collection account as past-due. And then, of course, the "we can't do that" on the TL deletion.

Today I even called the CRAs and spoke with someone at each bureau. Just to verify that I understood everything listed on the TL correctly. So now I am referencing that as well. I hope to heck this works!! AUGH!

Re: How would you respond to this?? Help!

jadeite788 — Wed, 30 Jan 2013 21:18:39 GMT

You need something in writing from the OC stating it is paid in full. Give that copy to the collection agency and state they must delete this from the credit bureau's according to FCRA. It's like one hand does not know what the other hand is doing.

Re: How would you respond to this?? Help!

jadeite788 — Wed, 30 Jan 2013 21:20:41 GMT

One more thing they have to do it within 30-45 days. If not you can sue a collection agency in small claims.

Re: How would you respond to this?? Help!

RobertEG — Wed, 30 Jan 2013 21:21:51 GMT

I assume that the OC referred the debt to the debt collector prior to accepting payment of the debt.

If so, the reporting of their collection would be accurate. They had collection authority at some point in time.

The issue of having paid the debt does not make that reporting inaccurate, or compel its deletion.

Deletion is discretionary on their part. I agree that there is no statutory or regulatory prohibition against their deletion. However, argument over that issue wont result in requiring their deletion. They do have a reporting agreement with the CRAs that clearly states that deletion is not to be made based on payment of the debt.

So, they have legitimate basis, regardless of the fact that some other basis might be questionable.

I would not expect a CRA to support a position that they have inaccurately failed to delete when they are acting in compliance with the written guidelines of the CRAs.