topic Re: PFD to Portfolio not invoking a response - What do I do now? in Rebuilding Your Credit

PFD to Portfolio not invoking a response - What do I do now?

Anonymous — Tue, 03 Nov 2009 22:02:47 GMT

I have been sending a PFD to Portfolio Recovery for almost a year now with no response aside from a one time letter verifying the address, OC, and my name (back in June). I am wanting to get started on a mortgage app but this one unpaid collection is just sitting there. What are your suggestions? Keep at the PFD letters? Pay and hope they delete later? (not my first choice), or DV them (SOL JUST expired in August)?

Thank you for your help!

Re: PFD to Portfolio not invoking a response - What do I do now?

tray — Wed, 04 Nov 2009 02:22:19 GMT

Hi is this particular account with portfolio charging interest, my collection account with portfolio recovery was adding on interest $5.00 a month non stop, I tried multiple times for a pfd even emailing the vice president of this company and asking for a pfd and it was a no. Personally I just paid off this account in August to get them out of my hair and just be done with it. Good Luck in your endeavors

Re: PFD to Portfolio not invoking a response - What do I do now?

Anonymous — Mon, 09 Nov 2009 04:08:43 GMT

Thanks! I was hoping that they'd say yes since I was offering payment in full but no response. It's passed the SOL, you'd think they'd want the money?

Re: PFD to Portfolio not invoking a response - What do I do now?

RobertEG — Mon, 09 Nov 2009 04:13:43 GMT

Are you absolutely sure that your state SOL has expired?

Running of the SOL is set and reset differently under state laws, Some set it from the DOFD, others from date of last payment, and some even provide for rest based on an offer to pay. Your PFD offer might be considered by them as an offer to pay, and they may be assuming an SOL that is different from your assumption.

Re: PFD to Portfolio not invoking a response - What do I do now?

Anonymous — Mon, 09 Nov 2009 04:33:21 GMT

The California SOL is 4 years as I understand it. I didn't see anything on the California AG page suggesting that? Do you know if California allows for a reset based on a PFD?

Should I just pay the CA and try to GW after? I can't take a big credit score hit right now?

Message Edited by newhome4me on 11-08-2009 08:33 PM

Re: PFD to Portfolio not invoking a response - What do I do now?

RobertEG — Mon, 09 Nov 2009 09:18:00 GMT

Paying a CA does not remove it from credit scoring.

The CRAs have a published manual establishing credit reporting criteria. One of the instructions in that manual is that the CA should never delete a CA account based on payment of the account. Some CAs may ignore those instructions in order to secure $$$. But after you pay, you have substantially reduced any financial incentive that the CA might have had to delete, contrary to the CRA reporting guidelines.

GW after payment has a much lower chance of acceptance.

DV letters are only for the purpose of validation, and have no statutory period for their response. And a DV letter sent after 30-days from their dunning notice to you does nothing.

You need to know if the SOL has expired before you decide what your remaining legal obligation might be.

Re: PFD to Portfolio not invoking a response - What do I do now?

Anonymous — Mon, 09 Nov 2009 19:46:59 GMT

The CA states on my Experian report that it's scheduled to continue on record until May 2012 (Charge off was March 2006). My understanding (tell if if I'm wrong) is that the removal date is 7 1/2 years after the DOFD??

I've never called them, only corresponded by mail. The DV that I sent a year ago resulted in an expected response months later showing OC name, amount due, and my name and address.

I've sent PIF PFDs with no response except for one time where they address the portion of my PFD letter that states that I have no knowledge of the debt and my letter is in no way accepting responsibility for the debt... And their letter merely states that it's mine. That was months ago and no payment agreement has been made nor have I made any payments.

I've been told by a legal professional that an agreement to pay and/or actual payment will reset the SOL in California.

I'm sure my mortgage company will want this paid prior to approving me but I'm so frustrated and lost as to how to proceed. Any advice?

Thanks again to you all for your help, without it I wouldn't even be able to entertain buying a home for my family!!!

Message Edited by newhome4me on 11-09-2009 11:46 AM

Re: PFD to Portfolio not invoking a response - What do I do now?

Anonymous — Tue, 10 Nov 2009 16:54:41 GMT

bump

Re: PFD to Portfolio not invoking a response - What do I do now?

llecs — Tue, 10 Nov 2009 17:01:10 GMT

I'd keep sending the PFDs. Never give up. Mail, fax, e-mail, send smoke signals, or do whatever it takes. Another resource that works for some (not referring specifically to Portfolio) is planetfeedback.com.

The only other option is to pay then start with the GWs. Personally, I would stick with the PFDs.

Per SOL, I think admitting to the debt would reset your SOL. Using the PFD letters in here, you'd find that the examples don't acknowledge the debt that the debt is disputable. Anyhow, since you have the $$$ to PIF and that you are offering to PIF (wise move), then SOL doesn't matter anyway. Worst case scenario, you can PIF to avoid any suit.

Re: PFD to Portfolio not invoking a response - What do I do now?

Anonymous — Tue, 10 Nov 2009 17:15:42 GMT

Thank you so much! I'll keep at it!

Well if cleaning up your credit and dealing with these CA's in the process doesn't teach you to NEVER screw your credit up again, nothing will!

Re: PFD to Portfolio not invoking a response - What do I do now?

Anonymous — Tue, 10 Nov 2009 19:11:56 GMT

Whoa, ok so I just checked my Experian report to check on another dispute and noticed that Portfolio updated my account (don't know when) stating that there was a recent payment of $77 on the account..there is no date listed for this fairy tale payment. I have NEVER paid them a dime EVER. They can't post that can they?!

Re: PFD to Portfolio not invoking a response - What do I do now?

tray — Wed, 11 Nov 2009 00:12:03 GMT

I would be very careful with this company any payment stated resets SOL. This company did the same thing to me stating on my credit report recent payment $200.00 which was a total lie I never sent in a penny. I even disputed this with no change to that statement from the cra. I would say if you have the money just pay the debt and be done with it and goodwill them to death and hope for the best. As this company is tuff on pfd's believe me I tried numerous times it is a no go and there has been a few unfortunately just a couple of threads on this forum with success with goodwilld with this company. The ultimate issue you would not have to worry about is a JUDGEMENT to contend with as even with all the game playing that is being done from this company the debt is still there. I quess we live and learn from our mistakes NO MORE COLLECTIONS. Good Luck in whatever you do

Re: PFD to Portfolio not invoking a response - What do I do now?

Anonymous — Wed, 11 Nov 2009 01:25:02 GMT

That's for sure! It's been a long time since I origally created this mess but never again!!!

PS - if anyone wants addresses for Portfolio - I found a few more.

5200 West Mercury Boulevard

Hampton, VA 23605

4829 Highway 45 North

Jackson, TN 38305

500 West First Avenue

Hutchinson, KS 67501

The standard - 120 Corporate Blvd

Ste 1

Norfolk, VA 23502

Message Edited by newhome4me on 11-10-2009 05:25 PM

Re: PFD to Portfolio not invoking a response - What do I do now?

John060675 — Wed, 11 Nov 2009 02:10:19 GMT

If they are posting fake payments to your account, then I would get a lawyer involved. I would have to assume that they would have to disclose where the payment came from. Also, if they are found to have been posting payments to your account to reset the SOL, then there has to be some way of suing them for such practices.

That just seems amazing they could do this. Also, I cannot believe the CRAs are not seeing through this. Total crap.

Re: PFD to Portfolio not invoking a response - What do I do now?

Anonymous — Wed, 11 Nov 2009 02:24:35 GMT

That's what I was thinking! I still have the old credit reports showing DOFD and every one since that shows no payment activity. I would love to see this "payment" they say I made! They would screw themselves in court over that one. Wondering how much it would cost for that lawyer though?

I'm sending PIF PFD's to all 4 addresses but I'm going to investigate more. Their amount due is twice the original balance and I'd love to not have to pay that.