topic Re: Portfolio Recovery Settlement! in Rebuilding Your Credit

Portfolio Recovery Settlement!

mk12933 — Fri, 27 Dec 2019 21:19:05 GMT

I'm working on rebuilding my credit and had 4 (yes 4) accounts with Portfolio Recovery totaling $4157.00.

They all fall off within 2 years but I'm trying to buy a house in the next year so I knew they would have to be settled.

$1379- settled for $501.80 - had to talk to them on the phone

$811- settled for $405 - used the online chat feature

$547- settled for $328- used the online chat feature

$1420- settled for $639 and I'm making biweekly payments of $52.35 for 12 payments.- Used online chat feature.

Overall, it's I paid about 45% of the total.

Honestly, feels so FREEING knowing that all of my collections will be off soon! I'll update when I see my scores change to let you know the difference.

Re: Portfolio Recovery Settlement!

OmarGB9 — Fri, 27 Dec 2019 21:30:04 GMT

Great job! Best part is they will request to delete after 30 days of final payment.

Re: Portfolio Recovery Settlement!

Anonymous — Fri, 27 Dec 2019 21:43:16 GMT

Great job paying that off, I hope you get the results you're looking for so you can get a nice APR on the house.

Re: Portfolio Recovery Settlement!

recoveringfrombk7 — Sat, 28 Dec 2019 04:29:45 GMT

Awesome, congrats!

Re: Portfolio Recovery Settlement!

FireMedic1 — Sat, 28 Dec 2019 15:48:41 GMT

Nice! Glad there are some CA's that do PFD. Good for business no matter what the CRA rules are. Let us know the score spike once it happens! Happy New Year...

Re: Portfolio Recovery Settlement!

Red1Blue — Sun, 29 Dec 2019 01:25:39 GMT

Congrats

Re: Portfolio Recovery Settlement!

Red1Blue — Sun, 05 Jan 2020 21:03:31 GMT

@mk12933 wrote:
I'm working on rebuilding my credit and had 4 (yes 4) accounts with Portfolio Recovery totaling $4157.00.

Last week, I called them and was able to settle 3 accounts for about 40%. There still one remaining account and I offered the same amount. They want 60% on that account. I have decided to hold off and wait on that account. From what I understand paying the CO boosts the scores than the paying off CAs. I am going to call them again in the next few days and see if I can get them settle for 40-45% on that account.

Re: Portfolio Recovery Settlement!

Anonymous — Sun, 05 Jan 2020 23:07:38 GMT

Congratulations on the settlement. I hope those give you a nice boost so you can get approved for a house!

Re: Portfolio Recovery Settlement!

MN3 — Fri, 24 Jan 2020 13:19:38 GMT

Hello! Since it has been over 30 days, just wondering if the collections were removed from your report and the bump they provided your score? Thanks!

Re: Portfolio Recovery Settlement!

collics — Fri, 24 Jan 2020 14:13:14 GMT

I’d love to know too. I have 3 pra accounts I hope to settle next month.

Re: Portfolio Recovery Settlement!

Red1Blue — Fri, 24 Jan 2020 14:26:06 GMT

I paid for 3 accounts about 2 weeks ago. Waiting to see when they drop off from my CRAs and if there might be any boost in score. I am not expecting much score boost but would like to see they drop off the report.

Re: Portfolio Recovery Settlement!

MN3 — Thu, 16 Apr 2020 04:16:02 GMT

@Red1Blue have you seen them get removed yet?

Re: Portfolio Recovery Settlement!

Red1Blue — Thu, 16 Apr 2020 11:04:17 GMT

@MN3 wrote:
@Red1Blue have you seen them get removed yet?

Yes, it took about 4 weeks and they removed completely from the credit report.

Re: Portfolio Recovery Settlement!

Anonymous — Tue, 05 May 2020 15:27:24 GMT

What kind of score jump did you see after removal?

Re: Portfolio Recovery Settlement!

SweetCreditObsession — Tue, 05 May 2020 15:32:59 GMT

Congratulations on settling the accounts!

Re: Portfolio Recovery Settlement!

Red1Blue — Tue, 05 May 2020 15:44:35 GMT

Today I paid off the last PRA account. Hopefully that should fall off from my reports.