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Portfolio Recovery says they now do PFD!!! Is this possible?

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Frequent Contributor

Portfolio Recovery says they now do PFD!!! Is this possible?

I just got off the phone with Portfolio Recovery and they told me they have a new policy whereby they will delete the tradeline from your credit reports. Considering everything I've read about them on these boards, it seems too good to be true. But, I thought it was worth sharing if it can help someone else. I refused their offer so, have not gotten anything in writing but if they call me back to accept my offer, I will definitely get it in writing and update the post.

 

My balance is past the SOL which probably has something to do with their newfound willingness. When they called I explained to them that:

  • The debt was not mine (opened fraudulently) 
  • The SOL had run out (they knew this)
  • I am content to wait out the remaining 18 months until it falls off
  • Since it would cost me time and money resolve, I would be willing to settle BUT ONLY if they agreed to delete from my credit reports in their entirety

At this point she explained their new policy (due to PFD being a major concern of many people). She said it will show as paid in full within 10 days and deleted entirely within 30 days.

 

They offered me a settlement of approximately 75% of the original debt. I countered with 50% and told them I was not negotiable since the SOL had expired. He tried to counter again and I told him not to waste his breath because when I say "not-negotiable" I meant it. But, that he was welcome to call me back if he changed his mind. $400 is > $0

 

That said, this brings up a question. Is there any option that would help get back in the good graces of the original creditor (Home Depot card from Citi)? Do I need to pay the full amount for that? partial? Or, because it is already on collections has that boat sailed.


Message 1 of 64
63 REPLIES 63
Frequent Contributor

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Yes, it is true.  Someone on another post just confirmed it.  It was deleted from my Experian report.  Waiting to see it was deleted from my Equifax report too.  

Filed Chapter 7 on 4/4/17 Discharged on 7/20/17
Scores after Discharged: EX 567, EQ 580, and TU 559
Current scores: EX 665, EQ 682, and TU 668

Cards in my wallet: Quicksilver One $1,000.00 Merrick Bank $750.00 First Premier $825.00 Credit One $950.00 Kohls $700.00 Victoria Secret $500.00 NY & Company $750.00 Williams Sonoma store card $2,500.00 PayPal Credit $1,500.00 Alphaeon Credit $6,000.00

Patiently waiting for my inquiry count to decrease so I can get rid of these subprime cards...After 2 years of rebuilding & paying unnecessary fees it is definitely time for an upgrade
Message 2 of 64
Regular Contributor

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Yes, they are deleting paid accounts because mine got deleted last week and I paid it on 9/6/18. I also got confirmation that they are deleting settled accounts also...They have a new policy in place now






Message 3 of 64
Regular Contributor

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

I got a Credit Karma Alert that PRA was deleted from EQ. I settled the account mid September.

Starting CK FAKOS 6/28/2018
TU 503
EQ 498
Discover EX 537

FICO Score 8 7/7/2018
EX 557
TU 566
EQ 514

Current FICO Score 8 as of 3/18/2019
EX 618
TU 633
EQ 578

Goal Score 650
Message 4 of 64
New Member

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

My Portfolio Recovery collections account was also deleted recently, havent checked EQ & TU.

 

FICO 8 SCORES
EX 657 EQ 629 TU 634

Message 5 of 64
Established Contributor

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

I still want to see this in writing either on their website like Midland or in a letter to someone.
I dont trust PRA as far as I can throw them!!
Message 6 of 64
Member

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

I just checked, and it does indeed say on the website that they will delete within 30 days of settlement or final payment.


@gdtobefree wrote:
I still want to see this in writing either on their website like Midland or in a letter to someone.
I dont trust PRA as far as I can throw them!!

 

Message 7 of 64
Regular Contributor

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Believe it or not it’s true, they delete my account and I am in different credit groups people are saying the same thing even on my Facebook group.






Message 8 of 64
Frequent Contributor

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Well my paid but settled  for less collection with them was deleted this week on my remaining 2 reports (had been previously deleted on EQ due to wrong information still there 18 months after it was paid).  But in my case it was already due to fall off between now and the end of November anyway.  So I don't if this new policy had any effect.  But I'm happy for the rest of you being set free.

 

So is there any effect on the original account's negative information or is that outside of Portfolio's influence?

9/2017 FICO8: EQ:585, TU:549, EX:580 | No opened accounts | 1 unpaid CO, 1 sold CO + paid Col | several lates 2.5+ yrs ago
Current FICO8: EQ:769, TU:751, EX:750 | 3x 30 day lates 4-6yrs ago
AAoA: 9.5 years; AAoOA: 8 months
Credit Length: 21 years
INQ Eq: 3 / Tu: 5 (4 for auto) / Ex: 8 (5 for auto)
Message 9 of 64
Established Contributor

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

I looked but didnt see it.
I will look again.
Message 10 of 64