"New Account" with Portfolio Recovery...Any Help Accepted

[Anonymous]

Ok, I got my Scorewatch Alert today that a new account had been added to my EQ.  When I opened it, I saw this:

PORTFOLIO RECOVERY ASSOC  (XXXXXXXXXXXXXXXX5819)
Opened: Not on Record

Show/Hide Details

Balance: $3,021 Credit limit or largest balance: Not Reported Past due: $3,021 Payment terms: Not on Record Status: At least 120 days or more than four payments past due First reported: 11/1/2007 Portfolio type: Open Account     Description: Collection account

Contact: PORTFOLIO RECOVERY ASSOC, Riverside Commerce Center, 120 Corporate Blvd Ste 100, Norfolk, VA, 235024962

I've never opened an account with them, and reading through the posts here, I know that they are a JDB.  I haven't checked TU or EX yet, but will.

Should I sent a dispute to EQ now, or DV Portfolio?

They never sent me initial written notice, so I didn't get the 30 days to respond to them.  Since it was added yesterday 12/03/07, can I preempt them by sending the DV this week?

Any help is appreciated.

Thanks

[Anonymous]

Sorry to hear that, they are not pleasant to deal with. What is the SOL of the account? How long will it remain on your CRAs?

Definitely DV & then after you receive the green card dispute with CRA.. They will first respond with a letter saying they understand you are claiming identity theft/fraud. Ignore that & send a 2nd DV. 

FYI-

they were showing on 1 of my reports, when I DV'd them they promptly began reporting to all 3 & updating monthly.

They then placed a bogus 'recent payment' on the account (guessing to re-age it). It took 2 letters to them & 2 disputes with the CRAs to get that removed.

Thankfully my account was past SOL & it will drop off next month.

Message Edited by Anderson on 12-04-2007 08:32 PM

[Anonymous]

Listed DOLA is Mar 2003.  SOL in FL is 5 years, so they have until Mar 08 to sue.

Would it be a better idea to wait until April to DV them, since SOL would be up then?

[Anonymous]

If this is a CC   SOL in Fl. is 4 years from DOLA

[Anonymous]

Thanks for the update.  I tried reading the statute but got confused over it all.

[Anonymous]

this is simple to read

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

I know because Im doing credit repair for relitives in Fl.

[Anonymous]

That was soooo much easier to understand! I'm going to save that link.

Thanks again.

[davidboca]

Actually... In FL the SOL for credit cards is five years. Store/gas cards are usually four years.

(Florida Statutes, Section 95.11).

Message Edited by davidboca on 12-04-2007 08:15 PM

[davidboca]

Also...

Credit card companies are required to give you a written notice within 30 days of an assignment of your debt. If notice isn’t given, the JDB may not be able to collect the debt. (see Florida Statutes, Section 559.715)

[Anonymous]

credit cards are open accounts  4 years  signed contracts are 5 years

STATUTE OF LIMITATIONS (IN YEARS)

• Open Acct.: 4
• Written Contract: 5
• Domestic Judgment: 7 Renewable
• Foreign Judgment: 5 if not recorded in-state

Message Edited by HappyDays on 12-04-2007 09:04 PM