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Taking on Portfolio...maybe


newstart2012
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My husband received a settlement letter from PRA yesterday on a Cap1 referenced item for just under $3K. I can't post the entire letter. It's one of those "tear off the sided and unfold" quickies.

We are cleaning up some old items on his CR and I noticed last month that PRA had an inquiry. From reading these boards, I've been expecting something from them, but just didn't know what. The "original" amount and Cap1 appear NOWHERE in any of the three CRA reports.

The letter does not give any time frames for disputes. It does not mention any possible lawsuit, it does not mention FCRA. Sorry, I can't post it, but there are a bunch of boxes with various settlement amounts.

Here's my thinking on the possibilities of the how and why he got this letter.

I. Zombie debt.

2. SOL of alleged debt is coming up quick.

I'm sending this simple debt validation letter CMRRR later today or tomorrow, but would appreciate any thoughts form the experts.

Portfolio Recovery Associates, LLC

140 Corporate Blvd.

Norfolk, VA 23502

January 23, 2012

RE: Your letter of January 18, 2012

Account Ref. # ending in XXXX

Dear Sir or Madam:

This debt is disputed in its entirety. Please validate. Contact me only by mail.

Sincerely,

His name

This is an attempt to correct your records under FCRA, so that your catch phrase “We’re giving debt collection a good name.” will be accurate.

OK, I'll probably delete that last PS. It just felt good to initially put it in the letter.

Now I have gathered from many posts on here that they don't bother even signing for the letter, and/or will not send anything validation back. If it is indeed a phishing letter hoping for just a quick $1K from an unsuspecting person, they will drop it and he'll never hear from them again.

How am I doing?

Anyway, I'd appreciate any suggestions and comments.

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Thanks for the reply. I guess I should give more info. We are thinking this is not his. Reasons for this: after pulling his CRs we found a totally incorrect SSN, an incorrect wife's name (unless he isn't telling me something), addresses that we don't even know where they are located and some minor inaccuracies. He has a generic name like Joe Brown, Etc.

He did have an account with them and the last time any money was sent would have been sometime in early 2005, but it might have been late 2004. And we don't recall if it was paid off then or just no more payments.

Please tell me what is wrong with the letter taking into account that the last line will not be included. What needs to be included? I want to do this right.

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If there is incorrect information on his credit report, then you need to deal with those items first, directly with the credit bureaus. Example, I had an incorrect address listed on my report, I filled a correction form out online and mailed it in and they fixed that.

If there is seriously wrong information on his report, then there are 3 possible ways I can think of that it got there.

1) Human error. You'd be SHOCKED at how often this happens. Almost every credit report has some piece of wrong information. One of mine, for example, fails to show a 1st mortgage yet shows the 2nd. I need to get that corrected, I've just been lazy about it.

2) Identity Theft

3) He doesn't remember an account.

If there is a completely wrong SSN and ex-spouses name on there, I'd venture a guess that it's #1. Incorrect stuff really can happen all the time. Example: When I was in college I had a Parisian CC and my dad had a Parisian CC. We do not share a similar name (unless you consider just a last name similar) but at the time I was still listing my parent's address as my home address, like a lot of college students do. Anyway, I requested to have the account closed. They were happy to do so and told me they'd mail me a confirmation letter. What I got was a letter where they closed my dad's account. :lol:

Anyway, if he pulled up his credit report and saw where the account had been closed at the account holder's request, he'd have thought, "what the hell, I didn't request that". Point being, human errors happen a LOT. If this is someone that shares a previous address as your husband (not necessarily at the same time) I can see how a snafu like this might happen.

Address the errors with the Credit Bureau's first. If your husband KNOWS this debt isn't his, I wouldn't bother to validate. I would write a cease and desist letter and be done with it, and it also may not be a bad idea to file a police report for possibly identity theft and have the Credit Bureau's place a temporary freeze. That's probably overkill, and I wouldn't do that unless you KNOW and are CERTAIN that the account isn't his.

Edited by KWKSLVR
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As far as the info on the CR, that will need to be disputed w/the bureaus directly.

Thanks 1stStep. Already in process. I disputed with TU earlier this month and am awaiting reply, getting the EX ready to go. I'm trying to get the real report from EQ without paying. (I'm cheap.) We have a ID theft thing with our bank, but the report isn't as complete as I'm sure you know.

Address the errors with the Credit Bureau's first. If your husband KNOWS this debt isn't his, I wouldn't bother to validate. I would write a cease and desist letter and be done with it, and it also may not be a bad idea to file a police report for possibly identity theft and have the Credit Bureau's place a temporary freeze. That's probably overkill, and I wouldn't do that unless you KNOW and are CERTAIN that the account isn't his.

Thanks, KWKSLVR. Errors are being addressed. However, I think I'll still send the validation letter to PRA. We just are not sure enough on the status on any possible old account and have no proof to file a police report.

Since particulars in the letter from PRA (the amount and Cap 1) are not even on any of the three reports, I'm thinking they fired their shotgun hoping for an uneducated person who for whatever reason ended up on a list they bought. I know the rate of return for them is good enough to pay the postage.:lol:

Thanks again.

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Thanks 1stStep. Already in process. I disputed with TU earlier this month and am awaiting reply, getting the EX ready to go. I'm trying to get the real report from EQ without paying. (I'm cheap.) We have a ID theft thing with our bank, but the report isn't as complete as I'm sure you know.

Thanks, KWKSLVR. Errors are being addressed. However, I think I'll still send the validation letter to PRA. We just are not sure enough on the status on any possible old account and have no proof to file a police report.

Since particulars in the letter from PRA (the amount and Cap 1) are not even on any of the three reports, I'm thinking they fired their shotgun hoping for an uneducated person who for whatever reason ended up on a list they bought. I know the rate of return for them is good enough to pay the postage.:lol:

Thanks again.

If the last time you paid on the debt was in 2005, it's outside the statute of limitations for collection. You can send a DV if you're curious about it or just want something for your records. After, or if they respond, I'd send a cease and desist letter stating that you don't recall the alleged account, don't owe it, and to not contact you again.

Edited by BV80
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You can send a DV if you're curious about it or just want something for your records. After, or if they respond, I'd send a cease and desist letter stating that you don't recall the alleged account, don't owe it, and to not contact you again.

Thanks BV80. Guess I'm curious. And want to waste 5 bucks on a CMRRR. :wink: And the C&D will be done if I actually hear from them.

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