Collection companies buy entire portfolios of bad debt, but is there a way to micro buy debt, like by the case?
Posts Tagged ‘Debt’
Seeking professional help managing combined debt in new relationship?
08
Jun
I am seeking professional help getting overwhelming combined debt with fiance under control along with setting future financial goals. I am willing to pay for this service similar to a personal financial advisor. I do not want portfolio advice at this time which eliminates all financial advisor/analyst that I have seen to this point.
Does anybody know what specifically I should be looking for? Does anybody have someone to recommend in the Houston TX area?
Seeking professional help managing combined debt in new relationship?
08
Jun
I am seeking professional help getting overwhelming combined debt with fiance under control along with setting future financial goals. I am willing to pay for this service similar to a personal financial advisor. I do not want portfolio advice at this time which eliminates all financial advisor/analyst that I have seen to this point.
Does anybody know what specifically I should be looking for? Does anybody have someone to recommend in the Houston TX area?
The Great Depression of Debt: Survival Techniques for Every Investor
14
May
Product Description
This book takes a close look at today’s economy and offers a bleak prediction for its future. However, those positioned to handle dramatic shifts in consumer spending, the mortgage industry, and the stock market are at a great advantage.Author Warren Brussee offers insight into the coming economic situation and provides steps to prepare for it. For example, he recommends that savings be in Treasury Inflation Protected Securities until the stock market drops 73% from its 2004 level. Methods of determining when the stock market is again a good buy are defined, and different investment options are evaluated. Even during a depression, people will need to save for their future, and Brussee provides detailed charts t… More >>
The Great Depression of Debt: Survival Techniques for Every Investor
Do I have to pay a collection agency for a debt charged off 5-10 years ago?
19
Mar
Out of the blue about 6 months ago I started receiving phone calls from a company called Portfolio Recovery. They never left any messages or anything like that. They would call all hours of the day and several times a day. Than I received a notice in the mail yesterday from this company saying I owe them almost $1500. It says that they are a collection agency. They have no name of a company that I owe this $1500 to. I can not think of any company I owe this money to but to a credit card I had about 10-12 years ago. I have had things in the past charged off (credit cards) this was about 5-10 years ago. I got a credit report about 2 years ago and nothing was on it but charged off accounts. I have been granted a new credit card about 3 years ago. When my husband looked up this company that is trying to get money from me he found stuff about the company being investigated for fraudulently charging and collecting money from people. My question is should I worry about this or what? I am not sure what to do.
Credit Report question on reporting a bad(fraud) debt?
15
Mar
Actually had two bad debts, not of my doing. Paid of one for $50 which had been on my credit report about 6 years about 14 months ago which would have dropped off my credit report now. Other one apparently started from a fraud charge of about $100 with about $500 of penalties on a Visa Credit Card. Anyway account was opened in 6/06/2001, with last payment on Oct. 2001 for $23.90 & account placed in inactive status in Dec. 2001, & closed out in June 2002. Sold to a third party collector(Portfolio Recovery Associates) in Oct. 2003.
Was going to pay it but it was not my debt & PRA are very very harassing. They hung up phone on me, berate & try to lay guilt trip while not listening at all. In their eyes I am guilty until proven innocent. Business model is not based on getting to the truth just extracting money plus employees commission. After telling PRA not to call me numerous times I was added to dreaded auto-dialer. So I sent a cease & desist letter – no calls for about 45 days. Also sent a validation letter but they sent me verification with quote” the Seller provided an electronic file of its business records concerning this account”.
My questions are:
(1) When does 7 year period end & this not appear on my credit report?
(2) Can I get them for harassment if they continue to contact me.
(3) Assume statute of limitations is over? Live in Virginia.
(4) Can I request a copy of this electronic file for validation purposes?
Thanks for any assistance.
harassment on paid debt?
13
Mar
I opened a credit line 15 years ago. Used poor judgement, didn’t pay and it went to collections. I then had to deal with Portfolio Recovery Associates (debt collector) and the debt was paid in full (after 2 years of monthly payments). I just received a call LAST NIGHT (from the original creditor) stating that I “owe 12K”
I am looking for my letter of final payment that I had received from the debt collector (Portfolio) but as it was nearly 6 years ago and I have moved twice, I’m not 100% sure that I will find it.
The debt is paid, I may not have proof…what do I do?
I’ve Been Summoned for a Credit Card Debt. Should I Hire a Lawyer or Is There Another Option?
12
Mar
I have a credit card bill for about $4000 that has been closed and bought by a debt buyer (Portfolio Recovery Associates) and they have recently summoned me for a civil suit. From what I’ve read, I can’t have my wages garnished in NC for credit card debt unless they get another state to order the garnishment, but the lawsuit is in a NC court and VA (the state where Portfolio Recovery Associates is headquartered) doesn’t seem to allow it either. Also, some sources (credit lawyers’ websites) say that debt buyers don’t really do well in court because they don’t usually have the documentation that they need to prove the case. According to the lawyers, the debt buyers are hoping that I won’t show up and they’ll get a default judgment – assurance that I’ll have to pay and a 20-year extension on how long they have to collect. I have a few smaller past due accounts that I would also like to pay off, but I can’t afford to pay everyone at once, especially if i make large lump sum payments on any particular account. I don’t have much money and my husband and I are struggling to recover from unemployment issues from the past two years. Therefore, I want to make the best long-term financial decision without spending more money than necessary. Does anyone with experience in this situation have advice? Would hiring a lawyer be worth the money? Is there a way to get a free but legit legal consultation (maybe local government resources)?
Help my wife was scammed by a debt collector?
11
Mar
On Wednesday my wife got a call from a guy claiming he was from the IRS stating his name was Al Hobs. He stated that we misstated a 1099 form and therefore you owe us 5,687 in back taxes. I do contract work and we have mis-stated one before and it was not fun with penaltiess and interests. This Al Hobs was veryforce fulll andthreadingg saying he will butlienss on property and garnish wages he also noted it will cost us double what we owe. She told him that she should talk to me about it, he said its too late we have been trying to talk to him, He did offer he a payment of 4,000 and would consider this closed. She gave him her credit card to settle this. I got home and she told me about this I was confused and called the our tax guy. One the tax guy said it would take up to a week for me to review you document. Two the tax guy said they would send writtencorrespondencee to you on this, also the IRS never acts like Al Hobs and demands money right here and now. Tax guy advised that I should check my wifes credit card to see if was the IRS or a scam. Sure enought I checked my wifes cc transaction there was a payment of 4,000 to portfolio recovery associates. Well they have been contacting me on a debt way past the statue of limitations. Debt was charged off in 1999 as a Discover card for 1,987 and they inflated it to almost 6k. I called them up and talked to a supervisor very shady and he said that my wife agreed to make a settlement and we did not pretend to be the IRS. He did also state I will get a letter showing a it is settled and closed and he also laughed and said yes you will get a 1099-c form on they debt we forgave to you. so will IRS by the way. I told them I am going to fight this he said who will they belive a dead beat like you or us. I think us good luck. What can i do, can we dispute the charge ect. I am really p’d off.
I see all kinds of nasty on this company Portfolio Recovery Associates how can they talk to my wife anyhow as this debt was before we were married.
Collecting on an old debt. Is it possible after 10 yrs.?
08
Mar
My debt started in 1995 & we are in 2009 can portfolio recovery associates sue me? I live in hudson county. How can i stop them. What papers can i file. Can they contact my employer? I have a letter from them & i have to file an answer. What should i add into my letter when i do the answer so they can finally leave me alone.
Where can I find what to do about bad debt on my credit report that isn’t mine?
04
Mar
I’m receiving letters from Portfolio Recovery Associates about a bill that I supposedly have. The Prior Creditor is listed as SBC. Upon doing some investigating on the internet, I found out that SBC is a phone company that is in quite a few states, but not the state that I have lived in my entire life. I checked my credit report and found that I also have a prior address on there that is from Indiana, when I have never lived there! I visited there over 5 years ago with a friend and was only there for a week, and the address now on my report is where we stayed at, with her aunt. While I was there, my purse (with all of my information in it, including my MN drivers license and SS card) went missing for 2 days. The weird thing was, the day I was going to report it stolen, it suddenly reappeared. I had an idea already of what had happened, but had no proof. Now this! I am going to write a validation letter, but after that, what can I do???
Harassing daily calls from debt collecter called Portfolio Recovery?
27
Feb
Is anyone else getting bizarre calls from Portfolio Recovery? They say I owe on a Visa bill from 1993! I told them I did not and they keep calling with threats and insults. I told them to take me to court and get a judge to order me to pay after they prove the debt is real.
The calls started sometime last summer and this is the first I’ve heard that I owe money from 1993.
Are these people are valid company or are they manufacturing /buying fake debt records?
The telephone number they are contacting me on is in Illinois. To what government agency can I report them to?
I have an interview with Cavalry Portfolio Services as a debt collector, do I need Collections experience?
27
Feb
I’ve only worked at two fast-food places. This Cavalry place hasn’t even seen my application yet, I have a friend who put me on a list of people to call. Anyway, I have no collections experience, obviously, no resume, and a past job for 1 year, a past job for 6 months. I really don’t want to sit down, answer all of the interview questions, and then get a big fat “you didn’t get the job.” Do I NEED experience? Do I need a resume? I’m 18 and have been out of highschool for a little while… will that have any affect on their decision?