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Portfolio Recovery Associates - Is it good at customer satisfaction?

Portfolio Recovery Associates LLC is a collection agency (CA) located in Norfolk, Virginia. They purchase charged-off and bankrupt consumer debts at a discount and collect on them. Some consumers have made certain complaints against this company in the DebtCC forums. Check out the topics below to know about them.


Portfolio Recovery Associates complaints - Causes for dissatisfaction

Consumers, who had problems while dealing with this collection agency, have shared the following experiences in the forums:

  • Collection of debts discharged in bankruptcy: Portfolio Recovery collection agency is accused of collecting debts that have been discharged in bankruptcy. One consumer claims that the CA tried to collect on a Providian account which was written off in bankruptcy. Learn more
  • Harassment over the phone: An elderly person complained that the CA called him day and night, in violation of the FDCPA, and accused them of threatening him. He finally had to file a complaint against Portfolio Recovery with the BBB and his State Attorney General's office. Find out more on this
  • Harassment for debts past SOL: One consumer says the collection agency harassed him for a debt after the Statute of Limitations in his state had expired. They also kept calling him at his place of work, despite being asked repeatedly to not do so. Get the details
  • Collection of non-existent debts: Some people have complained that Portfolio Recovery Associates LLC tries to collect accounts that never existed. One person said that the CA claimed that he owed $600 for an account with "Bank of Omaha". But, the poster said, he never heard of any such bank and had no accounts with them! Read more
  • Reluctance to provide written documents: One consumer said that he paid an account with Portfolio Recovery Associates, LLC in full, but the CA did not send him a letter or document acknowledging the debt had been paid in full! They said they would send him a document, but he never received it! They did not also update his credit report! Learn more

How does a collection account on your credit report affect you?

A CA will report a collection on your credit report. An account listed as being in collections can really hurt your credit score. Even if you pay off the account, the negative item remains on your credit report for about 7 years. When you pay it off, the collection account is simply marked as "paid" and is not removed from your credit report. The negative item can affect your eligibility for a loan, as a lender may consider you a bad risk.

Can you remove a collection account from your credit report?

You do have a number of options to remove the collection account from your credit report. Take a look at the following:

  • You do not owe the debt: The CA may report a non-existent account to the credit bureaus. They may also report someone else's debt on your credit report. This is why it's important to send them a validation letter. If the CA cannot or will not validate the debt, they are not legally permitted to list it on your credit report. You should dispute the listing with the credit bureaus and have it removed.
  • The debt is more than 7 years old: If the debt is more than 7 years old, you may have a chance to remove it from your report. Under the Fair Credit Reporting Act (FCRA), if the reported account is more than 7 years old, starting from the date of first delinquency, it can no longer remain on your credit report. You can dispute and have it removed, regardless of whether it has been paid or not.
  • You get a "pay for delete" agreement: If you do owe the debt and there's no way to remove it from your credit report, you may get a "pay for delete" agreement from your creditor or CA as part of a settlement agreement. Make sure that if you get a "pay for delete" agreement, you confirm it in writing before you make a payment. You should also check your credit report once you have paid off the debt and dispute the listing if it has not been removed after a reasonable amount of time.

If you need to contact Portfolio Recovery regarding a collection account, you should use the following address:


Portfolio Recovery Associates Address
120, Corporate Boulevard, Norfolk, VA - 23502.


Portfolio Recovery Associates Phone number: 1-888-772-7326 (local) 757-519-9300


(source: "http://www.portfoliorecovery.com/contact_us.php")

Hi everyone, I was recently contacted by that w...
member profile picture

Hi everyone,

I was recently contacted by that wonderful company portfolio recovery associates.

They are collecting on a Washington Mutual Account. Their balance is about $1400 more than my last balance. According to my records the last payment I made was in October of 2005.

In response to my inquiry through the credit bureau, they sent me a letter stating that they had purchased the account in June of 2007.
I have not as yet sent them a debt validation request.
Some from PRA is calling me at least once a day.

What should I do next? How to stop portfolio recovery associates calls?
Trevor




get portfolio recovery associates address and fire off a debt validation letter right away. You can find it by looking at JCEMT's links.

Sub: #1 posted on Fri, 06/13/2008 - 18:51

Unregistered


You can also include a limited cease and desist letter advising portfolio recovery associates llc to contact you by US mail only. This should stop all the calls.

Sub: #2 posted on Sat, 06/14/2008 - 01:06

Unregistered


Thank you for the responses. My concern is that upon receiving the debt validation letter, portfolio recovery associates inc. will immediately file suit. The SOL is certainly not up and I can't afford to pay them since I am without a job.
Trevor

Sub: #3 posted on Sat, 06/14/2008 - 07:16

Unregistered


That is BS. If portfolio recovery associates inc. get a validation letter and file a lawsuit after that, you can sue them. Once they get that letter, all collection activity must stop until they can validate it.

Sub: #4 posted on Sat, 06/14/2008 - 07:56

Unregistered


If you don't have any assets, suing you is pointless. But it will hang over your head for years.

Sub: #5 posted on Sat, 06/14/2008 - 08:07

markofkane markofkane

(Posts: 182 | Credits: 12.07)

Portfoilio recovery collection agency is trying to collect a debt from 1993.
I don't recall having this account.
What can i do ?

Sub: #6 posted on Tue, 12/16/2008 - 03:50

Unregistered


Have they sent anything in writing? You can answer the initial dunning letter with a request for debt validation. If this is beyond your state's SOL and federal 7.5 year reporting period then you can send them a full cease comm letter. See links at the right side of every page for sample letters.

Sub: #7 posted on Tue, 12/16/2008 - 04:23

NASCAR_Devil NASCAR_Devil
Moderators Cum Industry Expert
(Posts: 4666 | Credits: 308.23)

I need to sue portfolio recovery collection agency in small claims court...do I need to file suit with a specific individual or just the company name? please help...i'm getting nowhere with these people

Sub: #8 posted on Tue, 02/17/2009 - 12:04

Unregistered


i have worked for this wonderful company and yes they can attempt to sue you via what they call Thomas West. its how they collect debts on accounts that in their minds are refusal to pay doesnt matter if you cant or wont. it takes a lot longer to do thomas westing so most reps dont waste the time to do it. if you dont have a house or a job or they dont know your job and being that you dont live in a state the doesnt allow wage garnesment then theres nothing you can do the best thing is to try to settle but dont pay!!! if you can help it it will reset your statute of limitations date back another 7 yrs

Sub: #9 posted on Sat, 03/21/2009 - 20:12

Unregistered


UH!!!!!
Based on your writing you sound like somebody I talked to PRA they made about as much sense. And based on what you are writing it is pretty clear they don't teach you the laws regarding collecting.

Sub: #10 posted on Sat, 03/21/2009 - 21:35

Unregistered


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