Portfolio Recovery PFD win?

[Anonymous]

i know Portfolio Recovery now has it listed that they delete tradelines once PIF. So I called in this morning and talked to a supervisor.

He sent me an email saying

“Your account will be considered paid-in-full after the final payment is successfully posted. If you complete this payment plan and our company is reporting our company’s trade line for this account to the three major credit reporting agencies, within approximately 30 days of the final payment successfully posting, our company will request the three major credit reporting agencies delete our company’s tradeline related to your account from your credit bureau report.”

He gave me until May, 16th 2019 to pay it off.

Considering this a big win. 😃

[Anonymous]

THIS EXPLAINS SO MUCH FOR ME! I'M SO HAPPY!
I had a Portfolio Recovery Collection for $4,099 from last year that I paid off on March ~20th or so. My scores JUST shot up and I was so confused! My Fico report from 4/17 (paid for 1 time report on that day) to today (4/30/2019) has the biggest difference being that I no longer have the Portfolio Recovery Collection listed!

4/17/2019 to today, 4/30/2019
Fico8

Equifax: 647 -> 680
Transunion: 644 -685
Experian: 672->672 (wondering if maybe they were ahead of the deletion game compared to the others)

[gdale6]

Yup a great win, enjoy.

[Anonymous]

Yes, this is their stated policy I think since October 2018.

[Anonymous]

I actually got them deleted from my report a month ago and i go check my transunion and equifax and it was re-inserted. i just sent some letter to the agencies to dispute it. i also sent one to portfolio. They seem to give me a headache since my repair.

[Anonymous]

Alright, I requested the Manager I spoke with also send me a letter stating that it would be deleted after PIF.



Guessing if for some reason they don’t delete it after I pay it next week.. Can I then send this to the CRA’s as proof or is it more so me just trusting that they will actually delete?


This is what he sent with PRA letterhead:

Re: Account Number: Xxxx
Original Account Number: ************
Seller: CITIBANK, N.A.
Original Creditor: CITIBANK, N.A.
Charge-Off Creditor: CITIBANK, N.A.
Creditor To Whom Debt is Owed: Portfolio Recovery Associates, LLC Last Payment Date or Default Date: 3/14/2016
Balance: $xxx.xx


The law limits how long you can be sued on a debt. Because of the age of your debt, we will not sue you for it. Depending on the laws of your state, certain actions, such as making a payment or promising to pay the debt, may restart the time period for the filing of a lawsuit against you; but even if that were the case, we still will not sue you on this debt.

Dear PULP:
Your account was purchased on 8/31/2017 from CITIBANK, N.A.. This letter confirms your arrangement made on 4/29/2019 to make the following payment(s) to pay this account in full.
Payment in the amount of $XXX.xx is due by 5/16/2019.
Should you miss any of the payments described herein, this payment plan may become null and void.
We and not bligated to renew this offer.
Your account will be considered paid-in-full after the final payment is successfully posted. If you complete this payment plan and our company is reporting our company’s trade line for this account to the three major credit reporting agencies, within approximately 30 days of the final payment successfully posting, our company will request the three major credit reporting agencies delete our company’s tradeline related to your account from your credit bureau report.
If you have questions, please call our office toll free at 1-800-772-1413. Our hours of operation are 8AM - 11PM Monday - Friday, 8AM - 8PM Saturday, and 11AM - 10PM Sunday (EST).
Sincerely,
Xxxx Xxxxxxx

[Anonymous]

I assume you could. They won’t delete it right away. You just need to wait the time they tell you. After about 2 weeks they update the amount owed to $0 and then within 30 days, they delete. I’d give them the time and then dispute! I paid mine off around the 10th of April and just had them update to $0 and close the accounts 2 days ago.

[Anonymous]

Congratulations!  That's great news.  Portfolio Recovery will also email (secured email w pw needed) the letter confirming payment was made after it clears, if you ask.  Make sure you call them after your payment posts to get that letter!

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@Anonymous wrote:
i know Portfolio Recovery now has it listed that they delete tradelines once PIF. So I called in this morning and talked to a supervisor.

He sent me an email saying

“Your account will be considered paid-in-full after the final payment is successfully posted. If you complete this payment plan and our company is reporting our company’s trade line for this account to the three major credit reporting agencies, within approximately 30 days of the final payment successfully posting, our company will request the three major credit reporting agencies delete our company’s tradeline related to your account from your credit bureau report.”

He gave me until May, 16th 2019 to pay it off.

Considering this a big win. 😃

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[TIPPY-BOB]

Hi SuperAwesome...

Thanks for your post. 

It sounds like PRA takes most, if not all, of the 30 days to finally delete the item after you paid it.

Is that what happened with you?

After paying, I noticed first that they only reduced the balance by the settlement amount. So, I immediately called them and the rep told me that she'd forward the information to her supervisor to fix it.

Today, I noticed that they zeroed out the account (14 days after payment). So, I called again, and was informed that it may take 30 to 45 days. Of course, I didn't like the 45 day part because the agreement was for 30 days ... and like most people, I want it gone fast, at least within the originally agreed time frame of 30 days.

So, I guess I'll wait out the full 30 days to see.

(By the way, I did a PFD with Midland, and they were quick and professional deleting it ... without any followup.)

I'm thinking about calling in a dispute with each Credit Bureau just to make sure PRA doesn't drop the ball again.

What do you think?

Anyone else have an experience like this with Portfolio Recovery Associates?

[Anonymous]

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@TIPPY-BOB wrote:

Hi SuperAwesome...

Thanks for your post. 

It sounds like PRA takes most, if not all, of the 30 days to finally delete the item after you paid it.

Is that what happened with you?

After paying, I noticed first that they only reduced the balance by the settlement amount. So, I immediately called them and the rep told me that she'd forward the information to her supervisor to fix it.

Today, I noticed that they zeroed out the account (14 days after payment). So, I called again, and was informed that it may take 30 to 45 days. Of course, I didn't like the 45 day part because the agreement was for 30 days ... and like most people, I want it gone fast, at least within the originally agreed time frame of 30 days.

So, I guess I'll wait out the full 30 days to see.

(By the way, I did a PFD with Midland, and they were quick and professional deleting it ... without any followup.)

I'm thinking about calling in a dispute with each Credit Bureau just to make sure PRA doesn't drop the ball again.

What do you think?

Anyone else have an experience like this with Portfolio Recovery Associates?

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I think you should allow them the 30-days they advertise.  No basis for a dispute.