topic Re: Anyone have luck with PFD with Portfolio Recovery Associates in Rebuilding Your Credit

Anyone have luck with PFD with Portfolio Recovery Associates

ineedadvise — Tue, 09 Jun 2015 19:49:06 GMT

Just curious... we have one CO acct from a Home Depot card that is with Portfolio Recovery Associates. They are offering a few settle for less options and we have until the 22nd before they "possibly" seek legal action so we need to either start making monthly payments or work out a settlement so it doesn't hurt us more. Curious if anyone has had any success with PFD with them. It's a $1359 balance and I know we can pay for less...I've just never tried to have an item removed that honestly should be on the CR.

Re: Anyone have luck with PFD with Portfolio Recovery Associates

ineedadvise — Tue, 09 Jun 2015 19:54:05 GMT

Also, how low do you think they will go for a settlement on $1359?

Re: Anyone have luck with PFD with Portfolio Recovery Associates

Anonymous — Tue, 09 Jun 2015 20:05:52 GMT

@ineedadvise wrote:
Just curious... we have one CO acct from a Home Depot card that is with Portfolio Recovery Associates. They are offering a few settle for less options and we have until the 22nd before they "possibly" seek legal action so we need to either start making monthly payments or work out a settlement so it doesn't hurt us more. Curious if anyone has had any success with PFD with them. It's a $1359 balance and I know we can pay for less...I've just never tried to have an item removed that honestly should be on the CR.

PRA will not agree to PFD's or GW's. They are notorious for being a PIA. I would suggest sending them a DV before paying. Others have been successful at getting PRA to remove their tradeline due to incomplete/inaccurate information from the DV.

Re: Anyone have luck with PFD with Portfolio Recovery Associates

Anonymous — Tue, 09 Jun 2015 20:38:45 GMT

I sent several DV letters to this CA. one week I sent 3 on the same account, they sent me a letter stating they would no longer be collecting on said account and it was deleted.

Re: Anyone have luck with PFD with Portfolio Recovery Associates

ineedadvise — Tue, 09 Jun 2015 21:28:06 GMT

Just curious, how old was the debt...how long did they have the acct?

Re: Anyone have luck with PFD with Portfolio Recovery Associates

Anonymous — Wed, 10 Jun 2015 00:39:45 GMT

@ineedadvise wrote:
Just curious... we have one CO acct from a Home Depot card that is with Portfolio Recovery Associates. They are offering a few settle for less options and we have until the 22nd before they "possibly" seek legal action so we need to either start making monthly payments or work out a settlement so it doesn't hurt us more. Curious if anyone has had any success with PFD with them. It's a $1359 balance and I know we can pay for less...I've just never tried to have an item removed that honestly should be on the CR.

How old is this debt? Is it within your state's Statute of Limitations? If the debt is outside the SOL, then that is your legal defense.

Also understand that if a debt collector implies in any way that legal action will be taken against you if you do not pay a debt, they had better follow through, because if they have no plans of doing so, it is a violation of the FDCPA for making threats of legal action. Threats of legal action are illegal when used by debt collectors in an attempt to collect a debt, when they have no plans of using the legal system.

Re: Anyone have luck with PFD with Portfolio Recovery Associates

ineedadvise — Wed, 10 Jun 2015 03:08:16 GMT

It's only 3 years old, so it's well within the limits. I was just wondering if anyone had been successful with PFD because all the postings I read seemed to indicate that they won't. I take full responsibility for the debt, but since it's been CO from the original company and I know they paid "pennies on the dollar" if like to see what we can do here. Way back when all this happened Home Depot would not really work anything out with us so skip ahead and this is where we are at...like everyone else here I'm just figuring out my best course of action. We will call them Friday~ see if they will settle.

Re: Anyone have luck with PFD with Portfolio Recovery Associates

Anonymous — Wed, 10 Jun 2015 03:16:22 GMT

I had a GW with them honored last month. Granted it was already paid (settled for less than full balance, though) two years ago which helped.