topic Re: Portfolio Recovery says they now do PFD!!! Is this possible? in Rebuilding Your Credit

Portfolio Recovery says they now do PFD!!! Is this possible?

Caardvark — Mon, 22 Oct 2018 13:52:11 GMT

I just got off the phone with Portfolio Recovery and they told me they have a new policy whereby they will delete the tradeline from your credit reports. Considering everything I've read about them on these boards, it seems too good to be true. But, I thought it was worth sharing if it can help someone else. I refused their offer so, have not gotten anything in writing but if they call me back to accept my offer, I will definitely get it in writing and update the post.

My balance is past the SOL which probably has something to do with their newfound willingness. When they called I explained to them that:

The debt was not mine (opened fraudulently)
The SOL had run out (they knew this)
I am content to wait out the remaining 18 months until it falls off
Since it would cost me time and money resolve, I would be willing to settle BUT ONLY if they agreed to delete from my credit reports in their entirety

At this point she explained their new policy (due to PFD being a major concern of many people). She said it will show as paid in full within 10 days and deleted entirely within 30 days.

They offered me a settlement of approximately 75% of the original debt. I countered with 50% and told them I was not negotiable since the SOL had expired. He tried to counter again and I told him not to waste his breath because when I say "not-negotiable" I meant it. But, that he was welcome to call me back if he changed his mind. $400 is > $0

That said, this brings up a question. Is there any option that would help get back in the good graces of the original creditor (Home Depot card from Citi)? Do I need to pay the full amount for that? partial? Or, because it is already on collections has that boat sailed.

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

kiea — Mon, 22 Oct 2018 17:58:43 GMT

Yes, it is true. Someone on another post just confirmed it. It was deleted from my Experian report. Waiting to see it was deleted from my Equifax report too.

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Civil — Wed, 24 Oct 2018 20:47:57 GMT

Yes, they are deleting paid accounts because mine got deleted last week and I paid it on 9/6/18. I also got confirmation that they are deleting settled accounts also...They have a new policy in place now

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Harmony12 — Wed, 24 Oct 2018 20:53:06 GMT

I got a Credit Karma Alert that PRA was deleted from EQ. I settled the account mid September.

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Anonymous — Wed, 24 Oct 2018 22:02:36 GMT

My Portfolio Recovery collections account was also deleted recently, havent checked EQ & TU.

FICO 8 SCORES
EX 657 EQ 629 TU 634

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

gdtobefree — Sun, 28 Oct 2018 03:50:25 GMT

I still want to see this in writing either on their website like Midland or in a letter to someone.
I dont trust PRA as far as I can throw them!!

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Anonymous — Sun, 28 Oct 2018 06:47:27 GMT

I just checked, and it does indeed say on the website that they will delete within 30 days of settlement or final payment.

@gdtobefree wrote:
I still want to see this in writing either on their website like Midland or in a letter to someone.
I dont trust PRA as far as I can throw them!!

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Civil — Sun, 28 Oct 2018 08:00:30 GMT

Believe it or not it’s true, they delete my account and I am in different credit groups people are saying the same thing even on my Facebook group.

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Miner — Sun, 28 Oct 2018 17:35:14 GMT

Well my paid but settled for less collection with them was deleted this week on my remaining 2 reports (had been previously deleted on EQ due to wrong information still there 18 months after it was paid). But in my case it was already due to fall off between now and the end of November anyway. So I don't if this new policy had any effect. But I'm happy for the rest of you being set free.

So is there any effect on the original account's negative information or is that outside of Portfolio's influence?

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

gdtobefree — Mon, 29 Oct 2018 00:52:32 GMT

I looked but didnt see it.
I will look again.

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

dlm1113 — Tue, 30 Oct 2018 16:44:32 GMT

Look in FAQ up at the top right.

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

ls2016 — Tue, 30 Oct 2018 17:17:19 GMT

My 2 paid Portfolio Recovery collection accounts were deleted on 10/21/18. My Fico 8 Experian score went from 682 to 706.

Waiting 5 days to check Credit Check Total's Equifax and Transunion Fico 8s. Yay!!!!!

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Harmony12 — Wed, 31 Oct 2018 19:39:25 GMT

Has anyone received notification that PRA was removed from all 3 CRAs?

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Anonymous — Wed, 31 Oct 2018 20:39:25 GMT

Yes, my husband had 3 paid/settled accounts that were all removed last week. I just paid mine two days ago. Anxious to see how quickly it gets updated.

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Caardvark — Thu, 01 Nov 2018 18:56:37 GMT

I suspect a lot of PRA reps are going to make their bonus this month!

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

tedb — Fri, 02 Nov 2018 04:04:22 GMT

My Portfolio Recovery collection was removed from my Experian and Transunion credit reports. I haven't checked Equifax yet.

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Harmony12 — Fri, 02 Nov 2018 10:53:43 GMT

I received the removal from TU and EQ but score increased only with TU. I never got the official myFICO alert about EQ. I have received anything about EX.

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Anonymous — Mon, 11 Feb 2019 04:57:09 GMT

Anyone ever try this via their email? I trust my email correspondence more than speaking on the phone.

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Anonymous — Thu, 14 Mar 2019 01:30:12 GMT

Not sure who is getting the pay for deletes from Portfolio. I got the letter saying the same thing, after reading the reviews decided to pay them. But I paid and they placed the account as settled and updated my last payment date to 2019. I got an alert from experian saying this will negatively impact my scores. Now the account will show as settled for an additional 7yrs!!!! I am definitely disputing this! Do not bother paying them!

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

simplegirl — Thu, 14 Mar 2019 01:43:36 GMT

Actually they update to the amount you pay first then to zero and then they remove it after 30 days of you paying them.