Portfolio Recovery Auto Deletion

[Khan87]

I have 2 collection on my CR from Portfolio Recovery. On their webside it says they will submit with CB to remove the accounts 30 days after the final payment. Has anyone had any luck with this being true? 

[Cowboys4Life]

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@Khan87 wrote:

I have 2 collection on my CR from Portfolio Recovery. On their webside it says they will submit with CB to remove the accounts 30 days after the final payment. Has anyone had any luck with this being true? 

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I have not had to use it but every anecdotal thread I have read indicates it is accurate.  They do delete.

[Fico82]

I agree . From what ive read its true 👍 

[FireMedic1]

Most of the time not always. First month will show paid. Dont freak. Next month its gone. Congrats!

[OmarGB9]

Yes I have first-hand experience. They deleted 3 collections I had with them after I settled for less. Just as @FireMedic1 noted above, don't worry when you see that after the first month they only deduct your settlement amount from the total balance. In the next month it'll come off altogether. 

[681jim]

Absolutely. I settled a Cap One Spark Biz card with them in 2020 (C/O from 2018 or 19) at $4000-ish. Settled for $2500-ish... had to actually claw for them to agree to my settlement. They do mark it as paid, then you'll see it disappear off your reports shortly thereafter.

[IamWesty12]

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@Khan87 wrote:

I have 2 collection on my CR from Portfolio Recovery. On their webside it says they will submit with CB to remove the accounts 30 days after the final payment. Has anyone had any luck with this being true? 

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@Khan87 agree with the others....mine was not an auto but regardless a CO and just like the others posted, Portfolio kept to their word 100%. I am happy for you that you are dealing with them.  They want their $$$ and the process could not have been any easier for me.  Well, besides the coughing up of money to pay them but even that was mine originally so overall no complaints.  Win-win for all involved, they received their money and I thankfully saw the CO vanish!!  Keep us posted.

[MrsH64]

I did have this happen. They bought debt from 2 credit cards I had with Comenity.  I paid PRS in full, got the letter from PRS, and PRS does not appear anywhere on my credit report, so I would say that part is true. But the 2 credit cards that they bought still show on my credit, as Charged off and Sold, but still shows the balance I owed.  I wish that balance would show $0, since PRS paid them for the debt. but that's something for another thread. 

[OniStringer]

Can confirm. I have dealt with them, simply paid them and it was gone. Whatever my word is to you my man. It is accurate.

[nelson_xxiii]

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@OmarGB9 wrote:

Yes I have first-hand experience. They deleted 3 collections I had with them after I settled for less. Just as @FireMedic1 noted above, don't worry when you see that after the first month they only deduct your settlement amount from the total balance. In the next month it'll come off altogether. 

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Man thank God I foudn this thread because I just notieced that they did exactly what you mentioned here lol. They updated all 3 CR with the new balance but no delete. But I guess I can expect it gone next month.