Portfolio Recovery Associates, LLC - Letter

[Anonymous]

hELLO,

I just recieved a letter from Portfolio Recovery Associates, LLC claiming I owe 428.01

from a First National Bank of Omaha account.

I have no clue of this debt, I was pretty irrisponsible when I was younger and had a lot (in my opinion) of bad debt.

Mostly due to the fact I was a struggling artist with barley 2 pennies to rub together....

Now, I have good career going decent income, just bought a house, my FICO is 735 735 735

I thought there was a statute of limitations? I though wenst the debt was charge off is ceased to be able to affect one's Credit Report...

but I digress,

I've come to myFICO to hopefully get help deciding the proper couse of action.

So if any help is out there... Please find me

[Anonymous]

hELLO,

I just recieved a letter from Portfolio Recovery Associates, LLC claiming I owe 428.01

from a First National Bank of Omaha account.

I have no clue of this debt, I was pretty irrisponsible when I was younger and had a lot (in my opinion) of bad debt.

Mostly due to the fact I was a struggling artist with barley 2 pennies to rub together....

Now, I have good career going decent income, just bought a house, my FICO is 735 735 735

I thought there was a statute of limitations? I though wenst the debt was charge off is ceased to be able to affect one's Credit Report...

but I digress,

I've come to myFICO to hopefully get help deciding the proper couse of action.

So if any help is out there... Please find me

[Anonymous]

How old is the debt??   what state do you live in because that determines the statue of limitations .  with this piece of information we may better advise you on the course of action.

  For now do not respond to the letter and  if they call do not admit to the debt. 

[Anonymous]

I received a bill in the amount of $1,812.59 that was opened to Capital One in 1996 or 1997. This account was opened as a pre-paid card with $200.00 deposits with a credit limit of $200.00. Whatever the balance was supposed to offset with the deposit. This people has been calling me at work and now they send me a settlement offer.

I do not owe Capital One in the first place. I respond today that I do not owe Capital One any money and I definitely do not owe this company any money.

I sent complaints to Department of Consumer Affairs and Office of the Currency. I also sent copies to their LLC agent and I will send copies to the credit bureau that I do not owe this company any money. Not only that I do not owe them money, the statute had passed long time ago.

[RobertEG]

When a debt collector calls about debt that you assert is not yours, you have several options.

I would first DV the debt collector, not so much to resolve the issue, for a DV is not a dispute, but to at least require them to cease active collection activities until they provide verification.  Maybe they will respond with a statement of inability to veriffy, but dont hold your breath and wait for verification.

I suggest you additionally dispute this issue, based on inaccurate information in your credit file based on a debt that was not yours.

If the OC has posted this to yoour CR, send a direct dispute to them under FCRA 623(a)(8), and another direct dispute to the debt collector based on their separate credit reporting of inaccurate information.  If only the CA is now reporting, then file the direct dispute only with the debt collector.

Direct disputes require them to conduct an investigation based on all the supporting information you send them, complete their investigation within 30-days of your Notice of Direct Dispute, and send you written notice of their results within 5-days thereafter.  It additionally requires CR deletion if they cant verify the accuracy of the disputed information.