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

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Contributor

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


@Caardvark wrote:

A someone earlier mentioned, PRA's procedure is to update the status to the CRAs within 10 days as PAID & SETTLED. They'll subsequently request the CRAs delete the tradeline within 30 days. The key word is request becauase it can (and does) take the CRAs several days to remove. In my case EX and TU were deleted on day 29. EQ was removed on day 35.

 

TLDR Be patient. Don't Dispute. It will be gone soon enough. 


I just paid one from them on the 12th and the finalizing payment is driving me nuts. I don’t see why it takes them days to finalize a payment that my bank account has already said they have taken the funds. But I guess I’ll be patient 

Message 31 of 65
Frequent Contributor

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

They just want to make sure you don’t have the payment reversed and that it doesn’t get reversed.





Starting Score: 494 503 521
Current Score: 503 507 507 2/19
Goal Score: 680


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Message 32 of 65
Valued Member

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

How long before anyone got the letter back from them? My account was paid about two weeks ago by phone and it’s been going though some status changes on all three agencies the past few days.. but no letter from them yet.
Message 33 of 65
Valued Member

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

Btw, just paying down from $537 to $188 gave me a 22 point jump on EQ. Be interesting to see if it bumps more with a deletion.
Message 34 of 65
Frequent Contributor

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

Sorry, I do not recall how long it took to get the letter. I recorded the phone call with the settlement agreement so, wasn't too concerned about the letter. Plus, they had forewarned me that the letter would not specify it was a PFD, which is whjy I recorded the call.

 

That said, there have been many posts on these boards of successfull PFDs since Portfolio Recovery's policy went into place (10/2018) and not a single post from someone who did not have the tradeline removed. Therefore, I would not be concerned or stressed. Just keep being patient. 


Message 35 of 65
Valued Member

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

Thanks for the reply.. I’m content to wait it out, no biggie.
Message 36 of 65
Frequent Contributor

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


@Antknee wrote:
Btw, just paying down from $537 to $188 gave me a 22 point jump on EQ. Be interesting to see if it bumps more with a deletion.

Sounds like the account was affecting your utilization..

 

And in regards to my posts earlier.. I lack patience and have success going about things via dispute. Every profile is different.

Starting scores - 480 - 11/05/18
Current Scores -





Message 37 of 65
Valued Member

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

That’s normally me to a T as well.. as for it affecting utilization, could be. I hope so in a way. That was my small collection. I’m working on a 1330.00 one as well. Then I’m pretty much done. Plus this one was way older than the other.
Message 38 of 65
Frequent Contributor

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

Just keep chipping away at things and before you know it your score will catch up to everything. Feels like just yesterday I went for a car loan and didn't even realize I was at EX489....now approaching 700 It feels like I now own my credit after all the hours, letters and emails I've sent. One of the better feelings regarding finances for me at least!

 

MyFico has been a game changer!

Starting scores - 480 - 11/05/18
Current Scores -





Message 39 of 65
New Visitor

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

Update on my situation. After a week of disputing the settled PFD account it was removed completely. My score went up 60 points! I am now at 693. Big bump! So definitely take advantage of those PFD removal letters.
Message 40 of 65