topic Re: Portfolio Recovery Associates Balance Decreased? in Rebuilding Your Credit

Portfolio Recovery Associates Balance Decreased?

Anonymous — Fri, 17 Feb 2017 18:08:33 GMT

Has anyone else had an experience with Portfolio Recovery Associates or other debt buyer who decreased their balance? I received an alert that the balance on the account was decreased by $19 and I'm not sure why.

Re: Portfolio Recovery Associates Balance Decreased?

gdale6 — Sun, 19 Feb 2017 18:44:48 GMT

@Anonymous wrote:
Has anyone else had an experience with Portfolio Recovery Associates or other debt buyer who decreased their balance? I received an alert that the balance on the account was decreased by $19 and I'm not sure why.

If they made a mistake on the balance then by law they must correct it as they are under federal regs to accurately report info, conversely if you are making payments to them on it they will drop the balance and report it monthly till its paid off.

Re: Portfolio Recovery Associates Balance Decreased?

hippychic823 — Tue, 21 Feb 2017 14:12:29 GMT

Has the same thing happen last month on a collection I have with them....balance decreased by $16. I am not currently paying on this account because I have 3 other accounts with them that I'm paying on. Not sure where the balance decrease came from and not gonna call and ask until I get my smaller debts with them PIF next month: )

Re: Portfolio Recovery Associates Balance Decreased?

ls2016 — Tue, 21 Feb 2017 22:53:49 GMT

I just received a $21.00 check from them. Just plain weird!

Re: Portfolio Recovery Associates Balance Decreased?

RobertEG — Tue, 21 Feb 2017 23:39:51 GMT

Another post also recently referred to a refund check sent by PRA. It seems to be more than a single event.

It is clear that they are doing something in their accounting branch, possibly in compliance with some CFPB consent agreement, that effects their assessment of debt obligation.