Portfolio Recovery Associates
Portfolio Recovery Associates is a collection agency that was founded in 1996, went public in 2002 and specializes in the purchase, management and collection of charged off consumer debt. Also known as debt buyer, Portfolio Recovery Associates purchases unpaid consumer debt from the original creditor and attempts to collect that debt from the consumer. Portfolio Recovery Associates purchases their charged off debt portfolios from banks, credit unions, consumer and auto finance companies, retail merchants and other service providers. Portfolio Recovery Associates is known to report derogatory information to the credit bureaus in their attempt to collect debt. This results in collection accounts being placed on the consumers' credit report.
Because Federal law grants collection agencies the ability to put negative marks on the consumer's credit report, your credit score can be damaged and may prevent lenders from approving you for new credit. Unfortunately, by having a low credit score, the interest rate charged to you by creditors could be very high, even if you are approved for the financing at all. Among other laws, the Consumer Credit Protection Act allows the consumer to dispute, and potentially delete the derogatory information placed on their personal credit file by collection agencies like Portfolio Recovery Associates.
My ability to attain credit and my credit score were being damaged by the numerous collection accounts and judgments being reported on my personal credit file. Deciding it was time to do something about it, I began repairing my credit by contacting collection agencies to include Portfolio Recovery Associates in an attempt to negotiate some kind of arrangement with them. I wanted to remove the negative information on my credit report and some of that negative information was placed on my credit report by collection agencies. Dealing with all of the collection agencies like Portfolio Recovery Associates was more time consuming and frustrating than I could have possibly imagined but even worse, none of the collection agencies were willing to work with me. All of the collection agencies continued to report the damaging information to the credit bureaus. Some people think that credit repair is simple; I quickly learned that it is anything but simple.
I needed results and didn't have the patience or hundreds of hours it was going to take so I contacted Credit Restoration Bureau and they immediately began working to repair my credit. One of the first things they did was to start removing the various collection accounts that were on my credit report. They were able to raise my credit score significantly by deleting various types of derogatory items from my consumer credit file such as late payments, collection agency marks, charge offs and judgments (see the letter below). Working with Credit Restoration Bureau was a much more pleasant and worry free experience than I could have hoped for. Each time I received an update from Credit Restoration Bureau, I was delighted to see they were continuing to have a positive effect on my credit score. By the time Credit Restoration Bureau was finished, my scores had all gone up approximately 150 points and I was in the 700s. They had truly given me a fresh start.
Here is one of the update letters I received from the credit bureaus. This one is from Equifax and shows the deletion of three bank items and two collection accounts erroneously placed on my credit report. One of the collection accounts deleted by Equifax was placed on my credit report by Portfolio Recovery Associates.
Here is another update letter. This one is from Experian and shows the deletion of two collection accounts. One of the deleted collection accounts was also placed on my credit report by Portfolio Recovery Associates.
Credit Restoration Bureau was amazing and I would recommend them to anyone struggling with bad credit or being harassed by collection agencies like Portfolio Recovery Associates. Credit Restoration Bureau specializes in the removal of all types of derogatory credit itmes to include: late payments, collection agency marks, and charge offs. They even have great success removing bankruptcies and foreclosures from the consumers' credit report. If you have negative information on your credit report and would like a higher credit score, you should talk to professionals that specialize in credit repair. You should call Credit Restoration Bureau or click their link below.
