PRA Junk Debt Buyer
Complaint
Fed Up With PRA
Country: United States
I would advise people not to ignore debt collection proceedings by PRA:
PRA purchases old, fraudulent and other types of questionable debt that other mainstream collection agencies avoid like the plague. However, PRA is persistent in its attempts to acquire funds; this company will go to court and file claims against debts well past the statute of limitations and debts with smaller monetary amounts ($500.00 is sufficient for PRA to begin legal proceedings).
Often, PRA wins judgments against consumers by default; people are either unaware of court dates or have chosen to ignore the situation.
If the debt is past the statute of limitations in your state, the debt was discharged due to bankruptcy, or you honestly do not owe it, fight PRA.
Take action:
1.Request and review copies of your credit report yearly, don’t be afraid to dispute entries you believe to be wrong;
2.Become familiar with SOL in your state: http://www.fair-debt-collection.com/SOL-by-State.html
3.Know the FDCPA laws affecting your state: http://www.bcsalliance.com/y_debt_statelaws.html
4.You have the right within 30 days of receiving written notice from a debt collector to request verification and validation of the debt; debt proceedings must cease at the time of notification, and the dispute must be reported to credit reporting agencies.
5.You have the right to request that PRA cease communications with you. Forward a CRRR (certified return receipt requested) Cease Communications Request, in writing.
6.Report PRA to the BBB, FTC, State Attorney General’s Office and local consumer credit complaint agencies. The volume of complaints will alert federal/consumer agencies and state officials to the problem that is PRA.
Below is a listing of helpful websites:
http://www.ftc.gov/
http://norfolk.bbb.org/
PRA purchases old, fraudulent and other types of questionable debt that other mainstream collection agencies avoid like the plague. However, PRA is persistent in its attempts to acquire funds; this company will go to court and file claims against debts well past the statute of limitations and debts with smaller monetary amounts ($500.00 is sufficient for PRA to begin legal proceedings).
Often, PRA wins judgments against consumers by default; people are either unaware of court dates or have chosen to ignore the situation.
If the debt is past the statute of limitations in your state, the debt was discharged due to bankruptcy, or you honestly do not owe it, fight PRA.
Take action:
1.Request and review copies of your credit report yearly, don’t be afraid to dispute entries you believe to be wrong;
2.Become familiar with SOL in your state: http://www.fair-debt-collection.com/SOL-by-State.html
3.Know the FDCPA laws affecting your state: http://www.bcsalliance.com/y_debt_statelaws.html
4.You have the right within 30 days of receiving written notice from a debt collector to request verification and validation of the debt; debt proceedings must cease at the time of notification, and the dispute must be reported to credit reporting agencies.
5.You have the right to request that PRA cease communications with you. Forward a CRRR (certified return receipt requested) Cease Communications Request, in writing.
6.Report PRA to the BBB, FTC, State Attorney General’s Office and local consumer credit complaint agencies. The volume of complaints will alert federal/consumer agencies and state officials to the problem that is PRA.
Below is a listing of helpful websites:
http://www.ftc.gov/
http://norfolk.bbb.org/
Comments
http://www.nycbar.org/pdf/report/uploads/2007 ... tesLLCvKing.pdf
http://www.aarp.org/content/dam/aarp/aarp_fou ... tfolio_King.pdf
http://www.edcombs.com/CM/Custom/Amicus%20Bri ... 08_Appeal_5.pdf
PRA is a true bottom-feeder and there may be evidence that the company reviews consumer credit reports under the auspice of providing promotions. If outstanding debt is discovered on an individual’s credit report, they initiate debt collection proceedings; this action is undertaken without PRA first purchasing rights from the current/original debt holder.
PRA also cooks-up and files 1099-C forms, the company claims losses on debt accounts; ultimately, PRA gets the tax breaks and consumers get the bill. http://www.budhibbs.com/bh/index.php/America-s-Top-10/2-portfolio-recovery-associates.html
Here is a website reporting quarterly earnings for Portfolio Recovery Associates, LLC.
http://www.realpennies.com/otc/PRAA
It shows their emphasis on collection of out of statute debt, and on convincing people to pay even when it's OOS. it also suggests they are being told that "all their debt is valid", and that they may be passing on that line to consumers, resulting in deceptive collection of unowed debt.
https://complaintwire.org/complaint/8BuMBMZ-Q ... -associates-llc