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Portfolio Recovery Associates, LLC.


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This is an on going battle w/ PRA since June of 2008. I have been disputing an acct with PRA (That HSBC has listed as a charge-off) on my cr. As of recent 11.23.09 I received the following letter from them: (questions at the end)

Portfolio Recovery Associates, LLC; We're giving debt collection a good name.

(seriously that is what it says)

Re: Verification Information Concerning PRA Account/Reference No. xxxxx

HSBC/Orchard Bank - Non-Prime

The following information is being provided in response to your recent communication concerning acct referenced above. Acct # X and its proceeds were sold, assigned, and transferred by the seller to PR, LLC on 12/20/2007. At the time of sale, the seller provided an electronic file of its business records concerning this account. According to the seller's records, there was due and payable from (my name) to the seller in the sum of $513.89 with respect to the account, as of 12/20/2007, there being no known un-credited payments, counterclaims, or offsets against this account at the date of its sale.

Here is a summary of additional information in the electronic file for this account:

Acct Holders Name (me)

Last 4 digits of SS (xxxx)

Date Acct opened 7/11/2006

Bal at date of PRA purchase $513.89

Interest accrued since the date of purchase or last payment to PRA $58.12

Total balance as of 11.23.09 $572.01

Please contact us if you would like to receive a payment history for this account. You have until December 13, 2009 if we receive no information or documentation we may then terminate the investigation related to this account due to lack of clarification of the nature of the dispute.

*Interest continues to accrue on this account and will accrue until the account is satisfied, unless interest has been suspended.

This letter is from a Debt Collector.

Portfolio Recovery Associates


Can I still send a 623 letter to HSBC again being that I have been disputing this over a year?

Can PRA charge and continue to charge interest on this account?

Is PRA acting as both purchaser and "assignee" for this account?

What should I do next?

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Thanks for the info. I am disputing lates and charges that were on my account. I have not been able to get copies of anything from them since 2008.

I was under the impression that a collection agency can not act as both purchaser and assignee. (dunno?). What about the interest they are charging?

Jut trying to figure out how to get all the copies of my payments, and authorized charges.

Can they be sent a 623 letter?

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I was under the impression that a collection agency can not act as both purchaser and assignee. (dunno?).

I am not knowledgeable on credit repair, so I can't help you with your main problem. But the sentence I quoted seems to be based on a misconception.

"Assignee" can have two different meanings, depending on context.

In the first case, if a creditor hires a Collection Agency to collect on a debt, the account has been "assigned" to the CA, and they proceed to work it by calling, writing, etc.

In the second case, if a creditor sells a debt to a Junk Debt Buyer, all rights to collect have been "assigned" to the purchaser. If the JDB sues, they will probably describe themselves as an "assignee" of the OC.

I hope this helps a little.



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