Jump to content

Potential Settlement Letter for PRA Collection Past SOL


Uncle Reggie
 Share

Recommended Posts

Elsewhere on the boards, I was advised to mail a letter to the CA to begin settlement negotiations on two of my three unpaid collections that are past the SOL. I was advised not to admit ownership of the debt. I found something online and edited/re-wrote it to reflect my situation.

I would appreciate feedback - am I shooting myself in the foot? Or is this satisfactory? I figure I would start at 20% as PRA cannot sue me anymore and the accounts will drop off my reports on their own in less than two years.

**My third collection is a medical collection. I am going to write another for them as I was informed that the medical group does not recall billings they have sold to CA's - I would like advice as to where I should start with them - percentage-wise - as they started with a $1150 bill they have run up to $1700.  This bill will also disappear in less than 24 months.

I don't know if CA's that specialize in medical collections pay a higher premium for their bills than regular JDB's - it seems like they would, but they also add a lot on their own - the bill keeps going up...

These last three items aren't ruining me credit-wise - My Equifax is 713 - Experian is 653 and Transunion is at 673. Not great, but miles away from 2018 when they were in the mid-500's. 

Thanks in advance - this board is a great help and interesting reading.

 

Dear Sir/Madam, 

Re: <Account Number>

I’m writing this letter to inquire about the debt for the account number provided above. After a period of financial hardship, I am currently working to address several items that have appeared on my record.  I still have limited resources and really don’t recognize this account.

 It also appears that this account has aged past the period where I could be held legally liable for payment.

 But in the interest of starting from a clean slate, and with that in mind, I would like to propose to settle this account for $<XX20%XX>. In return, I request that your company remove this collection account from my credit reports.

 If your company is willing to accept this offer, please prepare a settlement agreement, sign it and send it to me. Once I receive my signed copy of our agreement, I will pay the amount listed above as agreed.

 Sincerely,

 <My signature>

Link to comment
Share on other sites

On the medical bill have you requested Validation.  If the OC will not buy it back  the collector may not have a way to DV.  

I recently got a medical bill from collection firm for 3 yr old medical bill for my wife I had no idea whom it was from. 

I asked them to provide me with the original invoice as I must have missed it in the mail or it was sent to wrong address as wife has not updated her Drivers license in 20 years.  

They could not send me copy of bill or even original creditor info, they pulled it from report and I never got any info on the bill. 

Albeit was only for $35 so may have not worth the effort on their part or maybe they were scammers. 

As for the PRA 

I sent this letter to PRA after 3 debts passed SOL.  They forgave all the debts and dropped them from my credit reports.

It was in 2015 so who knows what they will do you can send this out and wait a month if they don't drop it then send a 20% offer,  

Name
address 
date


Portfolio Recovery Associates 
P.O. Box 12914  
Norfolk, Virginia 23541 


To Whom It May Concern: 
I am writing to demand that you cease telephone communications with me according to section [15 USC 1692c] §805(c) of the Fair Debt Collection  Practices Act (FDCPA). 

Stop calling me or anyone associate with me at home, at work, on my cell phone, or at any other location. 

In accordance with the FDCPA, now that you have received this "stop calling" 
letter, you may only contact me to inform me that you: 

•    Are terminating further collection efforts
•    Might invoke a specified remedy
•    Intend to invoke a specified remedy

Since you obviously already have my contact information, calls also made by you or your company to any third party concerning me is in violation of section [15  USC 1692c] §805(b) of the FDCPA. 

Be advised that I am keeping accurate records of all correspondence from you  
and your company, including phone calls. If you continue calling me I will file  
complaints with the Federal Trade Commission and Virginia Commonwealth  Attorney General and sue you for FDCPA violations. 
Signature 

Link to comment
Share on other sites

Thank you for the advice - I would need to compose the letter to PRA a bit differently as they do not call me - and actually only sent one letter some weeks ago - admitting they couldn't sue me - so demanding they not contact me might be awkward - as they aren't really in communication. There is no pressure on their end. 

As for the Medical Collection - I will request debt validation - would you do it through the CRA's? Or directly to their office? I get the feeling as they and the medical group are both in Southern California - they likely have good communication. Or I could be assuming something not in evidence. 

It would be nice to have PRA waive all payment - but I am not against paying something - I did run the bill up before I lost my job.

Link to comment
Share on other sites

when I sent that letter they were calling me at home and office many times a day.  I just wanted the calls to stop I didn't think they would drop the debts. 

As for medical I would write to the collection company. 

Link to comment
Share on other sites

On 4/29/2022 at 6:48 PM, Uncle Reggie said:

Elsewhere on the boards, I was advised to mail a letter to the CA to begin settlement negotiations on two of my three unpaid collections that are past the SOL. I was advised not to admit ownership of the debt. I found something online and edited/re-wrote it to reflect my situation.

Just curious:  Is there a reason you are choosing to pay debts that are now time-barred?

 

  • Like 1
Link to comment
Share on other sites

11 hours ago, BV80 said:

Just curious:  Is there a reason you are choosing to pay debts that are now time-barred?

 

I have had a difficult run since 2008 - lost my job, house and had a hell of a time getting work until 2016 - then that work was sporadic. Commission only for a company that did everything they could not to pay commissions - when they finally decided to offer healthcare to sales reps in 2017 - they misquoted everyone and cancelled insurance unless you wanted to pay 400% of what you thought your premium was. Then clawed back the money they felt they paid that should have been paid by employees. As soon as I found I was going to have to work for a month with no pay - I told them no and was let go. The bill that turned into the collection was presented to the insurance company after they cancelled my insurance.

I should have sued - I could have - but it was looking backward and I had a family to feed and house. I had a few more jobs in the same industry as the job I had just left but nothing paid what was promised.

Then I got a job in 2019 in the industry of my old job in 2008 - and I am doing well. I have been saving money even with two kids in college. I thought my credit was a lot worse than it was.

I was at 500 or below 10 years ago - then credit was healing and 2017 happened. I thought I was back at 500 - back to difficult credit - but last year I looked as I was sued and it was not as bad as it looked. I actually got sued twice, but the cases were dismissed - one before I even knew I was sued - just found it when I took the advice of these boards and checked the court website. .

I guess I would like to have my credit back to where it was - I would like to maybe consider buying a house - even though I won't live long enough to pay a 30 year note - I would like my own place again... 

So these three collections would be nice to have deleted - then I can wait for the one item I can't fix - a Barclay's charge-off that will drop off on its own own 2024 - they stopped updating it in 2019 - but it is there. One of the collections is for that account.

Sorry to be so wordy - but I would like to have things cleared - to have a credit report good enough to where I can make the choice to use credit or not, and have the best rate and program available to me. 

It isn't that far off.

Link to comment
Share on other sites

@Uncle Reggie

I don’t know who the companies are that you will be contacting, but Midland and Portfolio will delete upon payment under certain circumstances.  Check their sites for details.

In the letter, I might state that I am not admitting to owing the debt.  Check your state laws to see what actions/language restarts the SOL for collection.

Link to comment
Share on other sites

19 hours ago, BV80 said:

@Uncle Reggie

I don’t know who the companies are that you will be contacting, but Midland and Portfolio will delete upon payment under certain circumstances.  Check their sites for details.

In the letter, I might state that I am not admitting to owing the debt.  Check your state laws to see what actions/language restarts the SOL for collection.

Thanks for the help - on my first post in this thread, I composed - or edited a letter I found - that doesn't admit I owe the debt. Does that look sufficient for PRA? I was hoping to start at 20% unless advice states start lower :)

Link to comment
Share on other sites

2 hours ago, Uncle Reggie said:

Thanks for the help - on my first post in this thread, I composed - or edited a letter I found - that doesn't admit I owe the debt. Does that look sufficient for PRA? I was hoping to start at 20% unless advice states start lower :)

I suppose it would work. Since the debt is outside the SOL, I think 20% is a good start.  

Link to comment
Share on other sites

On 5/5/2022 at 4:09 PM, BV80 said:

I suppose it would work. Since the debt is outside the SOL, I think 20% is a good start.  

Letters in the mail. Funny though - sent them yesterday - today got a letter from PRA on the larger of the two collections - offering a deal for $2000 on a $2600 bill. They say they won't sue me because it is past the time when they can. I certainly hope they don't think I'm paying 70% on this thing. They dig in their heels, I can wait 18 months until it drops off.

  • Like 1
Link to comment
Share on other sites

1 hour ago, Uncle Reggie said:

Letters in the mail. Funny though - sent them yesterday - today got a letter from PRA on the larger of the two collections - offering a deal for $2000 on a $2600 bill. They say they won't sue me because it is past the time when they can. I certainly hope they don't think I'm paying 70% on this thing. They dig in their heels, I can wait 18 months until it drops off.

Obviously you guys crossed in the mail.  Just wait and see what they offer. I was driving, that is the only time my phone rings on calls received  that are not my wife.  I guess because it connects to bluetooth audio player.  They verified it was me, I verified they had all the correct info.  They say I owe the full amount and how and when I wanted to pay it.  I said flat out I am not paying the debt if you want to collect you have to sue me. Lady said I didn't say anything about suing you. Which make me think their system has flagged my account as over the SOL.  I don't think they update their computer system to take into effect the extension in time due to COVID. My SOL is 6/31/2022 and Feb 2022 if you don't take into effect the tolling.  I am following to see how thing work out with you before i try to negotiate keep us updated. Was going to try until SOL passes.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.