Portfolio Recovery reporting as factoring account

Question

I just obtained my free credit report and I see that Portfolio Recovery is reporting 2 accounts that I have with them as Factoring Company Account and as open account. I paid the accounts back in April and they are credit card accounts. I read some stories about accounts inaccurately reporting as factoring accounts and people being able to remove them. What is my best action in this case? Dispute with TransUnion? Dispute at a higher level? Any hepl would be appreciated because 2 collections brought my score down almost 100 points and removing them due to inaccurate reporting would be greeat.

Answer 1

upwardonward wrote:
kennerchick wrote:
File a complaint with the CFPB and submit any copies of proof you have.  I did a scan of my husbnad's credit report and then cropped PRA and the account they were trying to collect on.  I've got my fingers crossed that the CFPB will get them to delete it from my husband's reports.  After that I will be filing a complaint for myself against PRA for the same reason, Have you had any response from the CFPB. I'm having this same issue. My story, I researched carefully, looking for other problems besides the factoring company.  Try a debt validation.  Since mine was never quite legal, they were missing paperwork required by law.  In addition, they usually buy large chunks of data without original contracts.   First part of complaint (since debt originated under different area code), is they never had permission to call that cell number (only if cell number listed on original contract).  They get new cell numbers via soft pulls on reports (harassment, especially against the law things).  Along those lines, they are not allowed to robocal cell phones.  You can revoke permission orally.  They get around this (and the previous call number when not allowed), two fold.  First, they keep changing their number and area code.  They start doing this when you block them.  I had three sets of Portfolio numbers, they filled up each ID.  Two were blocked numbers, the third, I kept for call history.  They also ring the phone twice (or three times) and hang up.  If you answer, no one is there.  You are left calling the number to see who it is, they give you all sorts of excuses, blah blah.  Remember what they said, notate. Next, attempt to dispute, if you haven't already.  They will tell you they need to send out form, which is only for fraud.  They will ignore written disputes.  They claim their debt validations are the settlement letters they send out.  As a debt buyer, they are required by law to have all the documents (collection agencies not so much, if the collection agency holds the debt in conjunction with the OC).  Write down your dispute from your research.  And, keep records of the form letters, etc they sent, and claim, are verification documents. Use these details for concise complaint with CFPB.  Make it plain if Portfolio can not verify the debt legally, you want the account closed.  Ask for the documents that would clear up your dispute, letters that should have been mailed from the OC, proof of original debt, etc.  Don't make this frivolous.  If they are reporting open, state the FDCPA and FCRA regs in your favor (they started reporting legally in WA state in 2013, the rest was not legal).  If you have a valid dispute with debt itself, list the OC in the dispute as well.  I did not need to do that, they had been taken care of with a TU dispute. Hope that helps.