@FireMedic1 wrote:
@OmarGB9 wrote:
@Anonymous wrote:
Thank you so much for the quick replies, you guys seem very knowledgeable!
I believe PRA is past the SOL since all the letters I have received from them state that they cannot sue me on the debt. Should I email them with my offer or do it over the phone ? If that makes a difference the original capital one account is not listed on my credit report so I believe once PRA is settled it should be completely off my report.
Also as I suspected it does not seem to be possible to remove the boA account but would it be helpful to have that collection paid to zero ?
Thank you so much !You could email, though over the phone works just fine. I can tell you first-hand that's fine. I've done a few settlements with PRA this way. Yes, once it is settled it's like the account never existed.
Correct, paying it to zero will lower util usage and update the balance to zero, and then it can begin aging.
Collection accounts aren't part of util. Only if the OC is listing a CO balance. Since @Anonymous posted Cap1 isnt on their report. Theres no balance to figure into util.
Well I only say that cause my Experian and CK reports seem to factor in collection debt into my "credit use," so that's why I assumed it's counted as some sort of utility. Particularly Experian, it's saying my credit use is at 94% due to those balances and yet I have no open CCs. 
@OmarGB9 wrote:
@FireMedic1 wrote:
@OmarGB9 wrote:
@Anonymous wrote:
Thank you so much for the quick replies, you guys seem very knowledgeable!
I believe PRA is past the SOL since all the letters I have received from them state that they cannot sue me on the debt. Should I email them with my offer or do it over the phone ? If that makes a difference the original capital one account is not listed on my credit report so I believe once PRA is settled it should be completely off my report.
Also as I suspected it does not seem to be possible to remove the boA account but would it be helpful to have that collection paid to zero ?
Thank you so much !You could email, though over the phone works just fine. I can tell you first-hand that's fine. I've done a few settlements with PRA this way. Yes, once it is settled it's like the account never existed.
Correct, paying it to zero will lower util usage and update the balance to zero, and then it can begin aging.
Collection accounts aren't part of util. Only if the OC is listing a CO balance. Since @Anonymous posted Cap1 isnt on their report. Theres no balance to figure into util.
Well I only say that cause my Experian and CK reports seem to factor in collection debt into my "credit use," so that's why I assumed it's counted as some sort of utility. Particularly Experian, it's saying my credit use is at 94% due to those balances and yet I have no open CCs.
CK is Vantage. Ignore all that they say and reccomendations for a card.
@FireMedic1 wrote:
@OmarGB9 wrote:
@FireMedic1 wrote:
@OmarGB9 wrote:
@Anonymous wrote:
Thank you so much for the quick replies, you guys seem very knowledgeable!
I believe PRA is past the SOL since all the letters I have received from them state that they cannot sue me on the debt. Should I email them with my offer or do it over the phone ? If that makes a difference the original capital one account is not listed on my credit report so I believe once PRA is settled it should be completely off my report.
Also as I suspected it does not seem to be possible to remove the boA account but would it be helpful to have that collection paid to zero ?
Thank you so much !You could email, though over the phone works just fine. I can tell you first-hand that's fine. I've done a few settlements with PRA this way. Yes, once it is settled it's like the account never existed.
Correct, paying it to zero will lower util usage and update the balance to zero, and then it can begin aging.
Collection accounts aren't part of util. Only if the OC is listing a CO balance. Since @Anonymous posted Cap1 isnt on their report. Theres no balance to figure into util.
Well I only say that cause my Experian and CK reports seem to factor in collection debt into my "credit use," so that's why I assumed it's counted as some sort of utility. Particularly Experian, it's saying my credit use is at 94% due to those balances and yet I have no open CCs.
CK is Vantage. Ignore all that they say and reccomendations for a card.
Right, but even Experian.com tells me my credit use is at 94%, and when I add up my collections + installment balance (car loan) that number matches up. That's what I'm still trying to figure out.
@Anonymous wrote:
Thank you so much for the quick replies, you guys seem very knowledgeable!
I believe PRA is past the SOL since all the letters I have received from them state that they cannot sue me on the debt. Should I email them with my offer or do it over the phone ? If that makes a difference the original capital one account is not listed on my credit report so I believe once PRA is settled it should be completely off my report.
Also as I suspected it does not seem to be possible to remove the boA account but would it be helpful to have that collection paid to zero ?
Thank you so much !
If you have a letter from Portfolio Recovery, is there no offer of settlement given to you thus far?
The letter only is asking for 100% of the amount?
You can also use the account information in their letter and look up your account within online and see if there is any offer there.
If no in both cases, then your only option would be to call them if you want to offer a lesser amount.
I understand the debt was originally charged off in 2015 but unsure how long PRA has owned it.
Given that it is from 2015 you should be able to get 50% or maybe 60% on the top end.
That is my experience with a Cap1 CO from 2014 sold to PRA which I settled in 2018 for 50% and another Cap1 CO from 2015 sold to PRA for DW that we settled earlier this year for 60%.
Good luck!
