Portfolio Recovery is finally playing ball!

[Anonymous]

Portfolio Recovery Associates recently updated their policy regarding settled accounts. Any paid in full or settled account will be deleted within 30 days of final payment. I had been disputing a paid chargeoff for about 7 months with no luck. Then randomly, I received a letter in the mail stating that my account will be removed from CRAs within 30 days. You can find this information under their FAQs. I hope this brightens someone's day. GOOD LUCK!!

[Harmony12]

Yes, there are a few threads since this new policy has been in place. I haven't seen anyone with it removed from all 3 CRAs though.

[Caardvark]

It's too early to tell for me as I just finalized my PFD with them today. But, I was very explicit that it needed to be removed from all three bureaus and they agreed. I also have an email stating the facts and a recording of the call. So... I'd be surprised if it did not come off all three

[ls2016]

Port. Rec. removed my 2 paid collections from all 3 credit bureaus: Tu, Eq. and Ex. I'm a happy camper.

Fico 8s are all above 700 now, Fico 9s are mid 700s as of 10/31/18. I'm a happy camper now, although I still have some late pays.

[Anonymous]

Nice! Congrats. Keep chipping away.😎

[Anonymous]

---

@ls2016 wrote:

Port. Rec. removed my 2 paid collections from all 3 credit bureaus: Tu, Eq. and Ex. I'm a happy camper.

Fico 8s are all above 700 now, Fico 9s are mid 700s as of 10/31/18. I'm a happy camper now, although I still have some late pays.

---

Nice!!  Congratulations!  Keep chipping away.

[Caardvark]

How long did it take for them to remove it from the three reports once the PFD was paid?. I did a PFD with them last week and they told me 30 days at most but I'm hoping it's sooner.

[mmmagique]

If you have a lot of collections, AND the original creditors are also reporting, how much will getting jdbs off your reports help your score? Just trying to decide whether to pay these guys or let it ride a couple of years. 

[Anonymous]

---

@mmmagique wrote:

If you have a lot of collections, AND the original creditors are also reporting, how much will getting jdbs off your reports help your score? Just trying to decide whether to pay these guys or let it ride a couple of years. 

---

Having collections on your credit is very damaging to your overall credit profile.  So if you have a jdb who is willing to delete for partial payment, I'd highly recommend doing so (esp. if you're planning to make large purchases in the near future) b/c it could boost your score quite a bit.  Also, you can use the fact that you've settled the accounts with the collection agencies as leverage to see if the original creditor would be willing to delete; goodwill letters are good for that.  Hope this helps.  We're in the same boat and I've had success with having a couple of charge-offs deleted by just sending 609s so that may be worth a shot.  Good luck!  

[mmmagique]

Ok, thank you very much. That's kind of what I thought, but I didn't want to throw money away if it wouldn't help.