Help with negotiating with Portfolio recovery over the phone.

[Anonymous]

Just called again. They went to 59% still not close. But headed in the right direction

[Anonymous]

Anyone have any luck with negotiation with Portfolio Recovery? Any Tips? I just spoke to them about two accounts from about four years ago. Both are Capital One accounts. One for $698 and one for $408 for a total of $1106. I offered just over 30% at $350. Big, fat nope by them. They refused to go any lower than $675 for both accounts and that is with talking to the supervisor. The SOL is only two years away and about 2 and 1/2 years from dropping off my credit report all together. I tried to negotiate but they didn't seem to want to budge even a bit. I will have to call again tomorrow to try again with someone else in hopes for better results. I told them if they wanted to settle it, I could send them out a money order as soon as I had a written agreement. Apparently they are not in a rush for their commission. Oh well. 

[Anonymous]

I finally got them to settle for 49% I called 4 different times. Then waited a week and a half until the second to last day of the month. They hold all the cards now by deleting from reports. So they don't seem to be in a rush. Ymmv

[Anonymous]

And you dont need the written agreement from them anymore. There terms are to delete. And they record your agreement. I agreed and paid right over the phone. Took all 30 days before they were removed

[Anonymous]

Yeah,

With them now deleting the tradelines makes it kind of a pain to negotiate. If I can get downt to 50% I would be happy. 

[Anonymous]

I know you said you called four times. Was that like four days in a row, over weeks, or what? Just trying to get a sense on how to go about it.

[Anonymous]

First 2 were back to back then waited a few days. Then a few more. The price came down just a bit each time. All in the 60's%

[Anonymous]

Okay,

Thanks for your help! I'll see what I can do.

[Anonymous]

I've been going back in forth for 5 months concerning my wifes last PRA TL. 1100 debt and this  last offer I offered 500 which is pretty low but she took my wifes information and is suppose to be calling me back. Each phone call the number keeps getting lower. 

Ill bite the bullet on 500. We've been successful with numerous other collections via PRA. 

The only thing that makes me nervious is that PRA has this debt out with an attorney to do the actual collecting. I was told as long as it is settled in full that it will be reported to PRA and then PRA will still delete the TL. 

Like I've said we have had very good success.. Just lots of phone calls. Everyone keep fighting the good fight! lol

Cheers!

[Anonymous]

I just reached a settlement with Portfolio Recovery. I ended up giving in to what they were asking for to avoid any future hassle. I settled for $658.52 for two accounts that totaled $1,106.96. Although a bit higher than I wanted to, it was decent considering there policy is to delete the tradeline once paid. Only paying about 59% and having it removed from my credit report isn't too bad in my book. I figured I would bite the bullet and settle rather than argue over the $100 to get to the 50% I had wanted.