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Advice on dealing with PRA

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Valued Member

Advice on dealing with PRA

Hello All,

 

This is my first post and I'm just starting my credit rebuild. I seem to be getting the run around from PRA in regards to a $450 chargeoff that they bought from Capital One. I called and spoke with a supervisor yesterday and got the balance reduced to $292. The only problem is they don't want to send me anything stating that if I pay the amount agreed on it will be settled in full. I also noticed that the amount on their website still remains at the original amount of $450, they also have a payment due listed at $292 by the 12th of July. It kinda seems to me like they have it listed as a payment only and will attempt to collect the rest. I don't plan on paying it unless I get something from them stating it will be paid in full.

 

This is my first time dealing with a CA and was curious if anyone has any suggestions... Thanks for your time.


Starting Score: 07/03/2019

Current Score (Fico 8): 12/20/2019

Goal: 07/04/20
Message 1 of 9
8 REPLIES 8
Contributor

Re: Advice on dealing with PRA

Pay the $292 and they will delete it... 

Begin of Journey ( 9/2018) EX 508 TU 506 EQ 498






Message 2 of 9
Established Contributor

Re: Advice on dealing with PRA

I can understand your concern, but Portfolio Recovery is one of the easiest to work with. Pay the $292 & they will mark it as paid in full, then in 30 days they will delete from your report.



Starting Score: Nov 3, 2018: EX 597 TU 599 EQ 616
Current Score: December 1, 2019: EX 690 TU 706 EQ 699
Goal Score: Dec 31, 2019: EX 700 TU 700 EQ 700

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Message 3 of 9
Super Contributor

Re: Advice on dealing with PRA

+1





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC at 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game. Pay it Forward!
Message 4 of 9
Established Contributor

Re: Advice on dealing with PRA

To echo the others, If I were in your shoes, I would pay the $292 ASAP in order to move the process along.  This is given my prior experience with PRA as well as feedback from others.

 

That being said, I understand the concern of following the mantra of "get it in writing".  Our point is that this is a relatively small delta and PRA has a consistent, recent track record.

 

Also, to set expectations, what is likely to occur is this:

You will submit your payment.  Several days later they will process it.  Several days after that they will clear it.  30 days after that they will update the collection as 0 balance.  Some days after that, they will remove their tradeline as a separate transaction.   It will take longer than "30 days" for all that to happen, but not much longer.

050719:     
010120:     

Message 5 of 9
Valued Member

Re: Advice on dealing with PRA

Thanks everyone for the advice, I'll be mailing out the payment next Wednesday when I get paid. I just wanted to make sure I had my bases covered. On another note, has anyone had luck working with Allied Business Services, Arbor Professional Solutions or Jefferson Capital on getting their debt reduced and PFD? Thanks again.


Starting Score: 07/03/2019

Current Score (Fico 8): 12/20/2019

Goal: 07/04/20
Message 6 of 9
Established Contributor

Re: Advice on dealing with PRA

Jefferson capital does I do not know about the other two.





Starting Score: 494 503 521
Current Score: 503 507 507 2/19
Goal Score: 680


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Message 7 of 9
Established Contributor

Re: Advice on dealing with PRA

@fluxxer69

 

If I recall correctly, PRA has a method of submitting payment via their web site.  That would certainly be quicker than mailing payment.  Of course that ignores any security or privacy concerns you may have, but in general mailing checks is among the least secure method of paying something.  YMMV.

050719:     
010120:     

Message 8 of 9
Valued Member

Re: Advice on dealing with PRA

I had the same experience with them where i had the original amount at $632 but got it down to $410 after taking to them...paid it and they deleted it from my report in 35 days...go ahead with your payment, PRA are so easy to deal with



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