Portofolio

[Anonymous]

Hey Folks,

Anyone has recent success with Portofolio recovery, tips or tricks to deal with them? Made a few call and it seems they play games- do not want to settle for fair amount or do pay for delete even though i have few accounts with them that are very old (almost 5 yrs)!

Thanks!

[HiiiPoWeR]

I seen a few posts from people on this forum that did PFD by sending certified letters to PRA. I also heard there's alot of back and forth with them to remove a tradeline.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Portfolio-Recovery-Associates-DELETED-finally...

[bass_playr]

Portfolio is like that white stuff that you see on top of chicken crap....they are among the worst.  

Several years ago, they sent me a collection letter for an account I had never heard of.  I DV'ed them, and as it turns out, the account was not even for me.  It was a telephone account that an old ex-girlfriend had, at an address I had no connection to.  She used my last name, as if we would have been married, but we never were.  This account was so old, it was delinquent before dirt was discovered, lol.  So they could not legally sue over it, although they made threats to take legal action against me if I did not pay.  When I started asking questions, they got hostile.  I asked them what could possibly tie me to this alleged debt, since they did not have anything showing my name on the account, or me at that address, etc.  They actually told me that it did not matter, that because my last name was the same and I clearly knew the woman, that I was liable and since they could not get her to pay it, they would get the money from me either way.  

I called their bluff.  At the time I knew it was beyond SOL so they could not sue.  So I recorded their phone calls--legal in my state to record without telling them.  And then I sent a nicely-worded certified letter to them with a copy of the recording where their agent threatened to sue me even after I pointed out that the debt was well past the SOL.  I informed them that if they did not immediately cease all collection effort, remove all credit reporting, and forget they ever heard of me, I would make sure that they paid me well for violating FDCPA and FCRA.  They deleted everything off my reports, and that was the last I heard from them.

Their letterhead used to say, "We give debt collection a good name"....wonder if it still does....what a bunch of hacks.

[Anonymous]

They are the worst. Kept playing games with me. They kept wording the offer I asked for in writing differently. Also, they offered me to do installments But i said no and that I would pay the 50 percent settlement in full (I just wanted to get them over with). Well, right after, literally 10 minutes after, I got an alert from credit report of a new hard inquiry from them for "loan installments". It never ends with them. So I paid in full and now I have this fictitious inquiry. Currently disputing and wrote letters and emails. I called them and they said "oh that's not us that did that l, it's the credit agency". Um no.
I honestly think they messed up and thought I was doing installments and realized after that I in fact did say I was paying in one lump sum at once. So annoyed!

[peacecindia]

Good to know that sneaky, rotten detail about Portfolio Recovery doing a hard inquiry

and placing an installment plan on your credit report falsely.

I'm also going to try to negotiate a lump sum payment with them and was wondering

if they would report it somehow on my credit report.

[Anonymous]

They're not supposed to do that. I settled with AFNI as well and told them about that and they said that's not supposed to happen. I don't know what they were trying to do.

[Anonymous]

---

@bass_playrwrote:

Portfolio is like that white stuff that you see on top of chicken crap....they are among the worst.  

Several years ago, they sent me a collection letter for an account I had never heard of.  I DV'ed them, and as it turns out, the account was not even for me.  It was a telephone account that an old ex-girlfriend had, at an address I had no connection to.  She used my last name, as if we would have been married, but we never were.  This account was so old, it was delinquent before dirt was discovered, lol.  So they could not legally sue over it, although they made threats to take legal action against me if I did not pay.  When I started asking questions, they got hostile.  I asked them what could possibly tie me to this alleged debt, since they did not have anything showing my name on the account, or me at that address, etc.  They actually told me that it did not matter, that because my last name was the same and I clearly knew the woman, that I was liable and since they could not get her to pay it, they would get the money from me either way.  

I called their bluff.  At the time I knew it was beyond SOL so they could not sue.  So I recorded their phone calls--legal in my state to record without telling them.  And then I sent a nicely-worded certified letter to them with a copy of the recording where their agent threatened to sue me even after I pointed out that the debt was well past the SOL.  I informed them that if they did not immediately cease all collection effort, remove all credit reporting, and forget they ever heard of me, I would make sure that they paid me well for violating FDCPA and FCRA.  They deleted everything off my reports, and that was the last I heard from them.

Their letterhead used to say, "We give debt collection a good name"....wonder if it still does....what a bunch of hacks.

---

Reading this gave me such anxiety. I’m glad it worked out for you. 

I know I had them on my account for an old cap 1 account (if I remember correctly) and after I paid them off it went away. Now I’m fighting LVNV.. but reading this makes me grateful that I didn’t have this experience with them..

[Anonymous]

I freaking DESPISE Portfoilio! They have been SUCH a huge thorn in my side with this rebuilding process. I'll be so glad when my last account with them falls off and I never have to hear their name again. 

I have THREE collection accounts with them  not big ammounts either- a Capital One for $1000 that they sued me over (settled for $500, but I have a **bleep** judgement now on my report (this was before I started learning how to fight back and what to do) and I have another one for like $475 also for Capital One and $600 for World Financial Bank. I have sent them offers to settle at 50% in exchange for them updating to paid in full and haven't heard from them. They are constanlty "re-flagging" my accounts so it looks like its a new collection and its not. They are a few years old, yet at least once a month I get an alert that says "your account was flagged as collection" and my score drops. They are the absolute worst. I wish I knew what to do to get rid of them. 

[Anonymous]

I settled with them last week for 50 percent. I can't stand them. I made sure I had everything in writing before paying them and STILL they are screwing me by not furnishing paid and zero balance and closed account as letter stated. TransUnion alerted me today of my remaining balance (the other 50 percent). Once AGAIN, more letters out to the CA's and Portfolio. It never ends
I am so sick of writing letters lol

[Anonymous]

Pay what you owe then file a BBB complaint for what you believe to be their unfair practices.