topic Re: Help with negotiating with Portfolio recovery over the phone. in Rebuilding Your Credit

Help with negotiating with Portfolio recovery over the phone.

Anonymous — Wed, 13 Feb 2019 16:46:08 GMT

So after doing some research and reading. I am going to call PRA and try to negotiate a seetlement for my 2 accounts with them. My total with 2 accoints is about 4400 for 2 cap 1 accounts. About 3.5 years old. My questions. Does anyone have experience with settling with them on the phone? If we come to an agreement will they send me a letter with the agreement? Or do they want there money asap. Can or will they update the prapay online to show the offer and I can pay that way. They havent answered letters and the emails I send never get answered. I know they paid about 10% for the debt. I'm going to start with 25% offer. And will be will to go to 35%. Any help would be great. Need this gone. Thank you in advance for the help. Also if someone has a good email contact could you on me

Re: Help with negotiating with Portfolio recovery over the phone.

FireMedic1 — Wed, 13 Feb 2019 18:59:44 GMT

With their new policy. Get the best payoff deal you can get. Once paid in full or a settlement figure. They will delete it from your reports. Its in their FAQ's. Good Luck!

Re: Help with negotiating with Portfolio recovery over the phone.

Caardvark — Wed, 13 Feb 2019 19:53:04 GMT

Is the debt still within the statute of limitations (SOL)?

Re: Help with negotiating with Portfolio recovery over the phone.

Anonymous — Wed, 13 Feb 2019 20:18:24 GMT

Yes it is. 7 years here.

Re: Help with negotiating with Portfolio recovery over the phone.

Anonymous — Wed, 13 Feb 2019 20:54:19 GMT

Just called. There offer 66% not even close. I'll try again tomorrow

Re: Help with negotiating with Portfolio recovery over the phone.

jnbowmar — Thu, 14 Feb 2019 01:13:54 GMT

I just took their 60 percent offer online but the tradeline was only 577 and I still have to do the payment plan option. Ive heard people say they would take 40 percent if you really try to get them to take less.

Re: Help with negotiating with Portfolio recovery over the phone.

Anonymous — Thu, 14 Feb 2019 01:42:29 GMT

I just did this today- my "original" debt they purchased was 584- my credit limit was only 300 and I offered 200, they countered with 411 lol and I told them I would not pay a cent over the original limit of $300. I demanded a settlement agreement letter be emailed to me. It took a lot of back and forth on the phone with a supervisor to get it emailed and saved to my desktop as my proof it's ok.

Paid it- now gotta wait for it to be PIF and then the tradeline deleted. And hopefully a score jump.

Re: Help with negotiating with Portfolio recovery over the phone.

Anonymous — Thu, 14 Feb 2019 01:48:03 GMT

Great to hear you got it settled. And they emailed a copy.

If I could get 40% I would probably bite the bullet. Lets see who I get tomorrow.

Re: Help with negotiating with Portfolio recovery over the phone.

Caardvark — Thu, 14 Feb 2019 03:47:22 GMT

I'm one of the people who settled for 40% but the SOL was expired, providing me a bit more leverage. And most, if not all, the other huge settlement discounts I've seen were also past the SOL. That said, YMMV and I'm rooting for you.

Only other advice I have is to call them on the last day of the month. I suspect they are more willing to bargain when they are at risk of not making quota/bonus.

Re: Help with negotiating with Portfolio recovery over the phone.

Anonymous — Thu, 14 Feb 2019 13:00:08 GMT

I was wondering if should try and get someone on the phone that understands the process. I do have a few things in my back pocket. A clear reporting violation on both accounts. Thats $1000 each. Then instead of waiting on them. Letting them know I will be filing suit instead. In found so they will need to supple witnesses from cap1 and anyone ive spoken to at there company. All of this adds up to way more than the account is worth. At that point even if they win it will have cost them 6k plus to win 4300. Ive had to do this twice before with other companies. And here on my local court I kinda know how it goes. It both other cases they backed down and we never saw the court room. Settled outside the door. For a fraction. At that point I'm sure they lost money. But flying in a witness from OC is not cheap.

Re: Help with negotiating with Portfolio recovery over the phone.

Anonymous — Thu, 14 Feb 2019 17:42:55 GMT

Just called again. They went to 59% still not close. But headed in the right direction

Re: Help with negotiating with Portfolio recovery over the phone.

Anonymous — Tue, 02 Apr 2019 18:39:49 GMT

Anyone have any luck with negotiation with Portfolio Recovery? Any Tips? I just spoke to them about two accounts from about four years ago. Both are Capital One accounts. One for $698 and one for $408 for a total of $1106. I offered just over 30% at $350. Big, fat nope by them. They refused to go any lower than $675 for both accounts and that is with talking to the supervisor. The SOL is only two years away and about 2 and 1/2 years from dropping off my credit report all together. I tried to negotiate but they didn't seem to want to budge even a bit. I will have to call again tomorrow to try again with someone else in hopes for better results. I told them if they wanted to settle it, I could send them out a money order as soon as I had a written agreement. Apparently they are not in a rush for their commission. Oh well.

Re: Help with negotiating with Portfolio recovery over the phone.

Anonymous — Tue, 02 Apr 2019 18:48:03 GMT

I finally got them to settle for 49% I called 4 different times. Then waited a week and a half until the second to last day of the month. They hold all the cards now by deleting from reports. So they don't seem to be in a rush. Ymmv

Re: Help with negotiating with Portfolio recovery over the phone.

Anonymous — Tue, 02 Apr 2019 18:51:02 GMT

And you dont need the written agreement from them anymore. There terms are to delete. And they record your agreement. I agreed and paid right over the phone. Took all 30 days before they were removed

Re: Help with negotiating with Portfolio recovery over the phone.

Anonymous — Tue, 02 Apr 2019 18:51:11 GMT

Yeah,

With them now deleting the tradelines makes it kind of a pain to negotiate. If I can get downt to 50% I would be happy.

Re: Help with negotiating with Portfolio recovery over the phone.

Anonymous — Tue, 02 Apr 2019 18:53:59 GMT

I know you said you called four times. Was that like four days in a row, over weeks, or what? Just trying to get a sense on how to go about it.

Re: Help with negotiating with Portfolio recovery over the phone.

Anonymous — Tue, 02 Apr 2019 18:56:46 GMT

First 2 were back to back then waited a few days. Then a few more. The price came down just a bit each time. All in the 60's%

Re: Help with negotiating with Portfolio recovery over the phone.

Anonymous — Tue, 02 Apr 2019 18:58:33 GMT

Okay,

Thanks for your help! I'll see what I can do.

Re: Help with negotiating with Portfolio recovery over the phone.

Anonymous — Tue, 02 Apr 2019 20:42:15 GMT

I've been going back in forth for 5 months concerning my wifes last PRA TL. 1100 debt and this last offer I offered 500 which is pretty low but she took my wifes information and is suppose to be calling me back. Each phone call the number keeps getting lower.

Ill bite the bullet on 500. We've been successful with numerous other collections via PRA.

The only thing that makes me nervious is that PRA has this debt out with an attorney to do the actual collecting. I was told as long as it is settled in full that it will be reported to PRA and then PRA will still delete the TL.

Like I've said we have had very good success.. Just lots of phone calls. Everyone keep fighting the good fight! lol

Cheers!

Re: Help with negotiating with Portfolio recovery over the phone.

Anonymous — Wed, 03 Apr 2019 15:52:44 GMT

I just reached a settlement with Portfolio Recovery. I ended up giving in to what they were asking for to avoid any future hassle. I settled for $658.52 for two accounts that totaled $1,106.96. Although a bit higher than I wanted to, it was decent considering there policy is to delete the tradeline once paid. Only paying about 59% and having it removed from my credit report isn't too bad in my book. I figured I would bite the bullet and settle rather than argue over the $100 to get to the 50% I had wanted.