- 1 Portfolio recovery associates settlement offer
- 2 Portfolio Recovery Associates / Debt settlement
- 3 Portfolio Recovery Associates - Non Compliance With Settlement Agreement Review from College Park, Maryland
- 4 Paying a Collection Debt – Portfolio Recovery Associates – Qualify for a Mortgage
- 4.1 Let’s look at the PRA collection account and take this one thing at a time:
- 4.2 Letter from Portfolio Recovery Associates LLC offering settlement on the debt:
- 4.3 Taking PRA up on their offer to settle US Cellular for 25% off.
- 4.4 What to do now about the PRA collection/offer to settle letter with an eye on getting the home loan approved?
- 5 Portfolio Recovery Associates, LLC
Portfolio recovery associates settlement offer
Portfolio Recovery Associates settles TCPA Class Action for $18 Million
Portfolio Recovery Associates recently settled a consumer class action lawsuit for $18 million for allegations of violations of the Telephone Consumer Protection Act (“TCPA”). This ends a multi-district litigation case arising from allegations that Portfolio Recovery Associates violated the TCPA by making robocalls to consumers without their prior express consent.
This class action settlement settles 4 separate cases against Portfolio Recovery Associates for violations of the TCPA. If you believe you have a claim against Portfolio Recovery Associates or have received a letter concerning the Portfolio Recovery Associates settlement, contact the TCPA attorneys at Maginnis Law, PLLC for a free case evaluation and consultation. It is possible that you are entitled to a considerably larger settlement than what you might receive by being a member of the class action.
If you are having issues with other companies besides Portfolio Recovery Associates, take our free two minute survey to see if we are investigating some of your other issues on behalf of consumers like yourself.
The TCPA settlement requires Portfolio Recovery Associates to pay $18 million which will be divided amongst the Settlement Class members. This figure includes approximately $5.4 million in attorneys’ fees, litigation costs, and additional awards to the Plaintiffs’ named in the four separate lawsuits.
The settlement will also require Portfolio Recovery Associates to stop using its “Avaya Proactive Contact Dialer” to place calls to consumers’ cellular telephone numbers without prior express consent. Portfolio Recovery Associates’ telephone dialing system is an automatic telephone dialer which enabled them to make rapid, uninterrupted telephone calls to consumers’ cellular telephones.
There are believed to be approximately 7.4 million Class Members of Portfolio Recovery Associates’ Settlement Class. This means that if each class member requests compensation under the settlement terms, each would be entitled to approximately $1.70.
Just being a class member does not mean you are stuck accepting the limited Portfolio Recovery Associates Class Settlement. Depending on the number of telephone calls that were made by Portfolio Recovery Associates to your cellular telephone, it may be beneficial to “opt-out” of the class settlement and pursue your rights individually. Maginnis Law, PLLC regularly helps individuals pursue their claims outside of the class settlement.
The TCPA allows individuals to be awarded money when they are called by companies without consent. The TCPA allows recipients of unwanted telephone calls to be awarded a minimum of $500.00 and a maximum of $1,500.00 per telephone call. If you have been harassed by Portfolio Recovery Associates, or have received a letter alerting you to the existence of the class action lawsuit, contact Maginnis Law, PLLC to discuss your rights. The TCPA attorneys with Maginnis Law can be reached at 919.526.0450 or through our confidential contact page. You can also subscribe to our mailing list to learn about the rights you have under consumer protection law against large corporations.
Portfolio Recovery Associates / Debt settlement
More Portfolio Recovery Associates Complaints & Reviews
United States - 23502
sears master protection agreement is a joke
birth certificate for karen lynn mcwilliams birth date 2/27/47
product not delivered
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2 1 hr 9 mins ago
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assisting stenography for depositions, a private business
panther law, criminal naira matevosyan renault
Portfolio Recovery Associates - Non Compliance With Settlement Agreement Review from College Park, Maryland
This agency is a total fraud!Bad actually worst customer service ever and they are liars.
They agreed to gave me discount to settle two accounts. After they withdraw the money next day at first time and after sent to me letters indocating both accounts were going to be reported as settled with no future obligation they decided to report the discounted balance. They are liars and this was not another thing than exthorsion. Do not pay to this agency actually you don't owe any money to this freaking agency your financial obligation is with the original creditor.
You don't have any contract with this liars.
Reviewer is in unhappy mood. This person stated that there is a room for improvement of attempts to steal from me and not listening to me. Please immediately contact the author of this review to discuss not as described of non compliance with settlement agreement. Portfolio Recovery Associates needs to read this review and look into the issue (if any) according to poster's claims.
Other people also mentioned non compliance with settlement agreement in their reviews. You may find this information helpful for further shopping at Portfolio Recovery Associates.
Paying a Collection Debt – Portfolio Recovery Associates – Qualify for a Mortgage
Hi, I am a medically retired Army veteran from and living in Iowa who was severely injured in 2008 while deployed in Iraq and am now living off of SS and VA disability. I was still married to my ex-wife at the time that I was deployed. In 2010 after returning stateside I attempted to secure a loan for a house, but wasn't having much luck due to my credit score at the time. One of the banks I was trying to get approved with gave me a copy of the credit reports they ran on me and on it there was a collection for US Cellular. I do not recall or believe I ever signed up for US Cellular and noticed that it said "date opened 03/08" which would have been during the time I was still deployed in Iraq. There's no way I opened that account. I suspect that my wife at the time may have opened it using my info and maybe even forged my signature if it was required. I wouldn't put it past her.
I also noticed it said "last active 05/10", the same month that the credit report was run, "reported 05/10", and "collection 06/08." It said he balance was 485. Well, I didn't know what to do and forgot/ignored it for a while.
I remarried and in 2011 my new wife and I looked into applying for a USDA loan program, but my credit was still not quite high enough, and over the phone USDA did a courtesy credit check and mentioned I would need to get the US Cellular debt cleared up.
We were having hard times financially so still couldn't do much about it, but all the while I don't think we were being contacted by creditors or collections about it that I remember. We never answer phone numbers we don't recognize though. So now this year not even a month or so ago my wife got my free credit reports from the 3 bureaus and to our surprise hardly any of the negative things that had been on my credit were showing up any more, including the US Cellular one, and my credit score was up to the low to mid 700s, much better than the previous 2 years!
I assumed either my ex-wife maybe paid the account or enough time had elapsed and it dropped off. With my much improved credit we quickly found a house and have been approved for the loan with no problems and are set to close in early December. But now just today (October 31) my mother brought over a letter from Portfolio Recovery Associates, LLC dated Oct 19 offering a discounted by 25% settlement amount on the $484.80 debt with US Cellular to be paid by Nov 16. My ex wife and I had lived with my mother at one point so I assume that's why they have my name at my mother's address, maybe my ex listed that address when she opened the account. It says to get 25% off I have to call a 1-866 number to sign up for a free account with payoff.com and to redeem my redemption code. Also says "your account will be considered 'settled in full' once your payment has posted." Portfolio does give their address, disputes address, and email. Side note, I think I remember our home loan officer maybe saying something about needing to not acquire any new debt between time of contract and closing on our house because something like they'll check credit again to make sure it hasn't fluctuated much or something like that. And I've heard that paying old debt can actually lower your credit for some reason.
What should I do if 1) I don't believe I incurred this debt? 2) My ex wife possibly incurred the debt in my name somehow? 3) As of most recent credit report I have (and apparently the recent one ran by our loan officer) it was no longer showing on report 4) I'm not sure what type of debt this is and therefore what the statute of limitations is for it (for IA I've read for written it's 10yrs..would that mean the SOL has not passed in my case)? 5) If the SOL has not expired, though it was dropped from my credit, should I just go ahead and pay the balance or the 25% off settlement amount since I don't want to fight my ex anymore or would that hurt my credit to pay it now, like I've heard it can? 6) If I do pay it off, should I wait till after we close on our house in case it would somehow drop my credit score and cause a problem in closing on our loan, even though the letter says it's due Nov 16? Or could I be sued if I don't pay it by Nov 16? This is all very confusing! Thanks for your time!
It is certainly a bit odd that the collection account from Portfolio Recovery Associates (PRA) on your credit report would be there in 2010, 2011 and then suddenly not appear in 2012. I have a theory for what may have happened that I will share below.
Let’s look at the PRA collection account and take this one thing at a time:
- You did not open the account and if this were still on your credit report you could file a consumer dispute with the credit reporting agencies that you were a victim of identity theft and have that attached to your file. You could even take this further and file an identity theft complaint against your ex wife.
- You could dispute the debt as not yours (cause it’s not – you were a victim of identity theft) and hold anyone reporting the debt to the credit bureaus and the bureaus themselves to the standard that they can be held to in order to prove the debt is yours, or remove it.
The debt is not on your credit report right now, and you have a specific goal of closing on the home loan in the very near future. The 2 steps above would not be necessary. I point those 2 things out for future readers, and also because the Portfolio Recovery Associates or US Cellular negative reporting actually could show back up on your credit report later, after you get the mortgage and close on the home loan. If the account went bad in 2008, the negative reporting time line for credit reporting purposes would not expire for 7.5 years, so there is a few more years to go on that.
Letter from Portfolio Recovery Associates LLC offering settlement on the debt:
You saw that the letter informs you have a right to dispute the debt. If you were to send a dispute letter to Portfolio Recovery saying the account is not yours, or request validation of the debt, they would have to meet their requirement to investigate your dispute and/or respond to you with proper validation of the debt. That would be hard for them to do, since you did not incur the debt and are a victim of identity theft.
When you request validation or dispute a debt, no further collection action can be attempted until Portfolio Recovery Associates meets their obligation under the FDCPA. This would include reporting the debt to credit reporting bureaus. If they updated the bureaus to show the collection account all over again without having properly investigated your dispute and meeting their obligation to validate the debt, you would be able to file an action against them. If you lost the home loan as a result, you would likely be able to show damages.
Taking PRA up on their offer to settle US Cellular for 25% off.
If you were to take advantage of the settlement offer from Portfolio Recovery you would not be taking on new debt. It would be considered taking care of old debt. You are correct that settling a collection account can, oddly enough, bring DOWN your credit score. The knock on your credit score from doing a responsible thing, like paying off a debt, is because it lends “freshness” to a “stale” item on your credit report. The credit score drop is often pretty brief, lasting only a few months.
If you are working with an experienced mortgage broker, they can normally help navigate an issue like resolving an old debt to still get your loan through.
If you are seriously considering settling the debt with PRA, the letter can be viewed as the first offer. You can, in my experience, get the amount reduced to a lower pay off than the 75% of the balance that they put on the table.
Your question about the statue of limitations in Iowa and whether they will sue you for the debt is a good one. I just don’t know how much you have to worry about that. Here is why:
A letter direct from Portfolio Recovery Associates means the account is not with an attorney. As a general rule, you would receive a dunning letter (a collection letter demanding payment), from a debt collection attorney firm first. If you were to get one between now and closing on the home you could send a validation request in this instance too. Here again, it would be pretty difficult to validate a debt that was not taken out by you.
What to do now about the PRA collection/offer to settle letter with an eye on getting the home loan approved?
If there is nothing on the credit report now, and I were in your shoes, I would not mess with anything until closing on the loan unless something pops up. If something did pop up I would probably dispute the debt with Portfolio Recovery Associates and the credit reporting agencies that show the account. I would outline that I am a medically retired veteran and that I never opened the account and demand strict proof that I had. I would document all of that and keep my loan officer in the loop.
If the loan closes like clockwork, I would wait for the next collection attempt, or the item to reappear on my credit, and then dispute it.
I mentioned above I have a theory as to why this stuff is no longer on your report. The CFPB began publishing their intent to supervise and regulate debt collectors and debt buyers of a certain size earlier this year. Portfolio Recovery Associates, LLC will be within the enforcement purview of the CFPB starting the first week of January 2013. Part of what the CFPB will be looking for when investigating companies like PRA will be how they furnish information to the credit reporting agencies. There would be an astronomical cost for PRA to individually review all of the debts they purchased and report as collection accounts on credit reports of the debtor. In order to prepare for any investigation, it may have proven quicker and less costly to start purging some of the accounts they were reporting on. It would certainly make them look proactive in front of a very serious regulator.
Comments and follow up questions on this topic are welcome by all below.
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Michael started CRN in 2004 with a mission to provide people in need with detailed debt and credit help and education. Michael has participated as an expert panelist in federal consumer protection rule making, collaborated on state law changes governing debt consolidation, has worked as an expert witness in court matters related to the debt relief industry, and is a regular contributor to several personal finance websites.
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Elizabeth Johnson says
I recently saw that I have a $22 balance for a charge off with portfolio recovery. I thought I had paid them off, I wouldn’t leave a $22 balance. The last report was November 2013. I have seen before other people say that if you contact and pay off a charge off it could actually hurt your credit score more. Should I contact them to pay this off? Would that effect me negatively? Would it be worse to leave it alone? What’s my best course of action? I’ve been working really hard for the last two years to build my credit up. I don’t want to do anything detrimental. Thank you!
Michael Bovee says
When is the Portfolio Recovery account set to be deleted from your credit reports?
Elizabeth Johnson says
Is that 7 years from the open date? The open date it november 20, 2012. So that wouldn’t until 2019.
Michael Bovee says
Not necessarily. Who was this account owed to originally? Is that original creditor still showing on your credit reports? Is it an account you opened in 2012, or is it older than that?
Elizabeth Johnson says
It was Syncb/Walmart. It shows as closed. It was originally opened in December 2009
Michael Bovee says
It is the date that you stopped paying the Walmart card that you use for when Portfolio Recovery should be deleted from your credit reports, as they whould be removed at the sometime as the WalMart trade line.
When you say you thought you paid the full amount before, would that be that you thought your WalMart card was paid off completely, or that you had paid Portfolio Recovery and Associates the full amount of the debt when they started trying to collect from you?
Elizabeth Johnson says
I paid portfolio recovery when they started trying to collect from me. I had a payment plan set up with them. They were taking the payments from my bank account. The last one as supposed to be in October when it says the last payment was made. I never heard from them after that and until yesterday I hadn’t seen this on my credit.
So I would go based on the last payment I made to Walmart? It says March 2012. So that would still be 2019?
Elizabeth Johnson says
Michael Bovee says
I would call Portfolio Recovery Group and find out what gives on the 22 dollars? They were supposed to have taken their final agreed upon payment in October; they did take that payment; but now report a 22 dollar balance on your credit reports.
It would be simple for them to correct any error they made, which is likely what happened here.
Let me know what they say.
I just received a subpoena from an attorney representing Portfolio Recovery Agency. I do acknowledge owing moneyto to GE Capital (Sams Club), the account PRA is trying to collect, and my question is…since I know they bought the account for pennies on the dollar, when I appear in court, can I insist they tell me how much they spent to buy the account, and tell them that ti what I will pay them? I can’t afford an attorney and will have to face them alone so I need all the help I can get. Also, they name on the account and subpoena are not correct, can that be used to get out of this?
Michael Bovee says
Susan – I understand the focus being placed on what Portfolio Recovery paid to buy your debt. How much PRA, and other debt buyers, pay for the legal right to collect the full balance from you – is a waste of energy and time. We agree that our accounts can be bought and sold (whether current with payments, or charged off in collections) when we open the accounts (most credit contracts stipulate to this). We accept that, and use the account. We do not get to dictate how much our account is worth. The courts do not get to dictate to GE Capital what the asking price of debts that are no longer being paid are worth. The courts cannot tell PRA what amount of investment capital to spend on a group of debts others deem worthless. PRA getting you to pay some or all of the debt is not a windfall of profits to them. They probably do not get paid a penny on 80%-ish of the accounts they buy.
You can look to learn what Portfolio Recovery and Associates paid to GE Capital for your unpaid debt in the discovery phase of your lawsuit. You will not get anywhere telling them that is what you will pay them. Not in or out of court.
How far off on the name are they? Now married and using a maiden name? Regardless, it can be corrected in the court process, so generally not something to get hung up on.
Are you able to qualify for low income legal aid? You may be able to get low cost, or even no cost, legal advice. You can also look to nearby colleges that have law departments and see if there is a professor/student clinic available.
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107 Portfolio Recovery Associates, LLC Consumer Reviews and Complaints
Be careful with debt collectors. If you have to deal with them keep track of every payment & document it date & all when was sent, etc. If you can pay off the debt in full do it if you can. The less you have to deal with it the better. These places buy debts for pennies on the dollar. Don’t let them intimidate you. They make a commission off the debts. Just be careful when dealing with a debt collector. Like I said document everything including payments. Don’t let them get the upper hand.
I have no debt. I haven't had a mortgage in many years. I haven't carried a balance on any credit card in many years. Haven't carried a balance over a few hundred dollars in 13 years, and I paid that balance in full - even confirmed this with the creditor after it had cashed my check. After this, I continued to live at the same place for many years. This former creditor had my address and number and never once contacted me apart from sending advertisements to get another card. I moved many years later - and many years have since passed.
I work, and I have had the same contact info for many years. It is on LexNex and Experian - which all legitimate collection firms have (I used to collect for a living). My current contact info has been in both LexNex and Experian since it became my contact info nine years ago. I have no debt for anyone to be looking to collect. And if a legitimate creditor or collector wanted to find me, it would take about 30 seconds to do so. This company called my father today claiming to be looking for me. The name of the firm and its website indicate that it is a debt buyer. You're not allowed to call relatives claiming to be looking for someone if you have their contact info or access to it. This is definitely a scam.
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Portfolio will lie and cheat to tell you what you want to hear. If you pay them off or even make installments they will hurt your credit at least 20 points. When you call them back to ask why? They say that they are not trained on credit issues. Total fraud. If you pay in full, make payments or don't pay them it will be on your credit for 7 years. Do your homework. Don't let this company fool you.
I am paying monthly to these people more than my minimum payments. I was using their website to pay. But no more. Now they fail to let you know. That when you pay online it starts an automatic monthly payment against your checking or debit card. I called them to stop this. They said I agreed to it. **. This company needs to stop this.
I had a credit card with Capital One and they sent it to PRA for collection (due to a system issue on Cap One side and I wasn't informed about it). God, I have never spoken to anyone more idiotic than the ones that work at PRA, Norfolk. They keep saying they can't reveal the information I am asking for when it's my account and I am the one who's gonna pay off the debt. They kept saying the same crap phrase - 'You will be provided the information in accordance to the account under collection' but never would say what's required to proceed with the next step. A bunch of fools! Pathetic people, am wondering how they live with themselves.
Had a really hard time with these guys. I sent them a written response and received the same information that they told me on the call. Then, I googled out some contact information and sent a letter directly to a higher authority and only then they sent me the account statement. Finally, had a call with one of those ridiculous fools and settled up my account. Phewww, one hell of an experience it was.
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I called Ally this week to get the payoff on my auto loan and was told the loan was sold. They provided a number which I called multiple times requesting the new account number and address of where to mail the payment. I received no return call. I did obtain another number and called, but after receiving no callback, I finally got a live person this am. They refused to provide an address and told me I need to call after 11am CST. My payment is due by the end of the month and needs to be in the mail today. This is unacceptable. My loan payments have always been on time and I have been attempting to get the address to mail my payment since 10/25.
In 2016 I became involved in a class action suit against PCA and we won a settlement. I received about $46. Now they are again attempting to collect a debt that was paid in full last year. Calls are daily, and they do not want to hear or acknowledge that the debt has been paid and that we won a lawsuit against them. It is almost like they expect double payment! These folks should be put out of business.
Portfolio Recovery is trying to collect on a debt that is over 10 years old. The Arkansas statute of limitations on a written contract is 5 years but they are still try to collect it from me. I have sent them a letter without implying that I own the debt stating the Arkansas law.
They have called my mother every day for 2 weeks, we block robocalls, so they call right back from a different number. My mother had a stroke and cannot speak, told them this with every call and asked for written info to send POA to so we can handle the situation, they will say they need to speak with her to get permission to talk to me. SHE CANNOT TALK! They want me to fax them the POA with the account number, which I don't have and they won't give to me. Spoke with a supervisor, that was a joke. I used to be a collector so I know the rules and I know the games. They can keep calling, but until I get proof of what she owes and why, they are not getting one dime.
This company calls and harass me on a daily basis. Sometimes two or more times a day. This has been going on for five years or more. I have been making payments as I could afford them over this period of time. However in February of this year I set up a scheduled payment plan so that they could quit calling me. Needless to say, they continue to call me two or more times a week because they either do not take out the scheduled payment or they cancel my payment schedule. Every time I try to explain this to them they try to make it my fault because of their screw up. I will admit that I have not been the nicest person to deal with since setting up the payment schedule because it bothers me that they continue to call. Especially when I make the payments on time and they are not applying them to my account.
Today I received another call from them to set up another payment schedule (this is the 5th time doing this) because someone went into my account on Aug. 5, 2017 and cancelled what I set up on July 19, 2017. I was unaware of this happening until I received their call. When I tried to explain not only to the associate but also to her manager they told me that they didn't do it. I told her they had to because I have not been in that account since July 8, 2017. As I was trying to explain the situation the manager kept interrupting me and was not trying to hear what I was saying. I was already upset because they called and was admittedly being rude but this really upset me.
So I tried to set up the arrangement once again with the associate. She kept asking questions and I told her that she already has all of my information and to just please set up the payments so we can end this call because I was upset and didn't want to talk about it anymore. So she hung up on me. I called back and explained my situation to another associate, who did not ask all of the dumb questions the previous associate did and setup the payment plan yet again without issue. And requested that they send me letters confirming this info. I'm sure they are going to screw things up and start calling me again because they do this literally all of the time.
These people do not communicate with one another nor do they read the notes in their system. Because if they did they would know that I have set this up numerous times and with various people. Every time they call they are calling from a different state and I have to tell them to read their notes and that's when they proceed to tell me that they see in their notes that I have spoken with someone previously and set up a payment schedule but that I did not make a payment. Funny thing about that is that after they took out the "missing" payment they sent a letter stating that they took out the money. Also, they tried to tell me that something was wrong with the banking information and that they received an NSF message from the bank which I know is also a lie because I have another account that has the same banking info and that payment was taken out without a problem.
This company is the most incompetent company that I have ever dealt with. They really need to get it together and do their jobs because it is extremely frustrating to continuously be harassed due to their employees not reading their notes and not following through on posting payments correctly. If they had their company in one central place instead of all over the country they could possibly do a better job of keeping track of what their employees are doing.
7 years ago, I got very angry with a bank. They jacked my credit card interest up to 30% and lied about when they would lower it back to normal. So I made payments until I paid back the money borrowed. (They just didn't get any interest.) Then I called them and told them "no more, I just could not pay all that money." They eventually wrote it off. Then I started getting calls from Portfolio Recovery. Just the name implies they are the good guys trying to help the creditors. I blocked more than 70 phone numbers connected with them. This was in 2011 when they started calling me. I checked my credit score recently and found they changed the date to 2013 now. The debt itself should be off the books entirely in September. I am thinking of contacting an attorney friend of mine and we may go after lost money due to higher interest rates because of this.
Portfolio is very shady and you owe them nothing. They buy old debts and try to scare people into paying them off. They sometimes sue and get judgments on people that don't know any better. As I understand it, in Texas, a credit card debt more than 4 years old cannot have a judgment placed on it. Further, the date of the last payment made to the original debtor is the charge off date. Not the date the collector decides to put on your credit report. That would be fraud. Portfolio Recovery, as I understand it, has and is currently being sued for this.