The Credit Store

[bubj37]

I have a Portfolio Recovery collection that is listed on all 3 reports with the original creditor being listed as The Credit Store. Who the heck are they? Anyone have experiance with them? How would I handle this? It's being listed as an installment account with a recent payment being made of $250 with 1 month terms.

[Anonymous]

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bubj37 wrote:

I have a Portfolio Recovery collection that is listed on all 3 reports with the original creditor being listed as The Credit Store. Who the heck are they? Anyone have experiance with them? How would I handle this? It's being listed as an installment account with a recent payment being made of $250 with 1 month terms.

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That is a CA  and they lie!!!  do you have any CO  on your CR???

[bubj37]

In the potentially negative items section on my report it is listed this way...

Portfolio Recovery Associates

Date open:March 2006

Type: Installment

Terms: 1 month

Responsibility: Individual

Credit Limit Or Original Amount: $3973.00

Recent Balance: $4,240 as of June 2007

Recent Payment: $250

Status: Collection Account

This account is scheduled to continue on record until Mar 2009

I have disputed it with the three CRA's and it has come back verified. I have never had an account with Portfolio or the Credit Store. The CRa's say that I need to contact Portfolio if I want this info to be changed. Anyone have Portfolio fold on them? I heard that the Credit Store had went bankrupt so how can they verify the info...not to mention if the Credit Store is a CA how can they be the OC. Shouldn't it be deleted on those grounds with the CRA's. Having the Credit Store as the OC is innacurate. Any thoughts?

[Anonymous]

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bubj37 wrote:

In the potentially negative items section on my report it is listed this way...

Portfolio Recovery Associates

Date open:March 2006

Type: Installment

Terms: 1 month

Responsibility: Individual

Credit Limit Or Original Amount: $3973.00

Recent Balance: $4,240 as of June 2007

Recent Payment: $250

Status: Collection Account

This account is scheduled to continue on record until Mar 2009

I have disputed it with the three CRA's and it has come back verified. I have never had an account with Portfolio or the Credit Store. The CRa's say that I need to contact Portfolio if I want this info to be changed. Anyone have Portfolio fold on them? I heard that the Credit Store had went bankrupt so how can they verify the info...not to mention if the Credit Store is a CA how can they be the OC. Shouldn't it be deleted on those grounds with the CRA's. Having the Credit Store as the OC is innacurate. Any thoughts?

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2009 means this account IF real went bad in 2002   what is your SOL

http://www.bankrate.com/brm/news/cc/20040116b2.asp?caret=8

http://www.fair-debt-collection.com/SOL-by-State.html#7

Message Edited by HappyDays on 09-07-2007 06:06 PM

Message Edited by HappyDays on 09-07-2007 07:39 PM

[bubj37]

I'm in the state of Texas so it is 4 years. I haven't DV'd Portfolio yet but since I disputed the Cra's as not mine they have sent me a couple of collection letters asking for payment. The letters state the original creditor was the Credit Store and that Portfolio purchased the account on March 30th 2006. They say the date of the original loan? was 11/20/2001. The amount is even more now because they are charging interest. How can the OC be the Credit Store....I thought they were a CA also.

[Anonymous]

You need to do a DV now. State in the DV to only contact you by mail. Do not sign the DV letter. Then immediately dispute the TL on all 3 CRAs as a fraudulent account. If it is verified again before you get a response to your DV you just made some money.....contact a lawyer.

[bubj37]

What type of proof do I need to ask for from Portfolio. The way they are reporting this account it has multiple violations, should I mention them or let them figure it out. They sent me a couple of bills this month after I disputed the accounts with the CRA's but they don't really tell me anything other than what is on my credit reports. One letter reads:

Name:XXXX

Accountholders Address:XXXX

Date of Loan: 11/20/2001

Accountholders Last 4 Digits of SSN: XXXX

PRA Purchased this Account: 3/30/2006

The Current Outstanding Balance is: $4,293.06

They both say that The Credit Store is the original creditor. I've never had an account with either. When I send a DV should I automatically dispute or wait until I get the green card back?

[cgmiller63]

There is a post with links to several sample letters somewhere on this site. I'm sure someone will chime in with it.  

[Anonymous]

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cgmiller63 wrote:

There is a post with links to several sample letters somewhere on this site. I'm sure someone will chime in with it.  

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Jones Collection Agency

222 1st Street

Noplace, FL33333

Re:      Account #:                   5555555

Dear Sir or Madam:

This letter hereby notifies you that the validity of this debt is in dispute. In an attempt to validate this debt, I am requesting evidence of this debt, specifically the alleged contract or other instrument bearing my signature, as well as proof of your authority in this matter. Absent such substantiation, under federal and state law you must correct any erroneous reporting to any and all credit reporting agencies

In accordance with Section 809 of the Fair Debt Collection Practices Act, Fair Credit Reporting Act and corresponding case law, please provide me, in writing, the following information:

1. A copy of the alleged original contract or other instrument bearing my signature
2. Complete account history, including, all statements, records of all activity, payments, collection attempts, and any charges added for collection activity; In short, any and all documentation pertaining to this account
3. Evidence of your authorization under 15 USC 1692(e) and 15 USC 1692(f) in this alleged matter
4. Evidence that your company is registered as a consumer collection agency in the STATE OF ------------------------

Additionally, until full validation is provided, all representatives of your company, or any affiliated company, must immediately cease & desist all attempts to collect the aforementioned debt. Failure of your company to comply with this request will be a violation of the Fair Debt Collection Practices Act and will directly result in a complaint filed with the Federal Trade Commission and the STATE OF---------- Attorney General's office. Please be advised, should this request be violated, I will pursue all criminal and civil claims, including any and all punitive damages, allowable by federal and state law against your company.

Failure to respond, in writing, and in a timely manner, will serve as a waiver to any and all of your claims in this matter and that this matter is permanently closed. Please provide the requested information or correct your records and immediately request the removal of this invalid debt from all sources to which you may have reported.

For the purposes of 15 USC 1692 et seq., this Notice has the same effect as a dispute to the validity of the alleged debt and a dispute to the validity of your claims. This Notice is an attempt to correct your records, and any information received from you will be retained should further action become necessary. This is a request for information only, and is not a statement, election, or waiver of status.

I look forward to your timely response.

Best regards,

TYPE NAME     DO NOT SIGN  SEND CMRRR

[bubj37]

Thanks for the letter.