Same thing happened to me, a 10 year old credit card I myself closed and left in good standing came back to bite me by way of Portfolio Recovery Associates. After going through my credit and asking the credit card company to send me letters stating the last known status of my credit card account(s), it was as I had remembered it being, both accounts closed in good standing. So why are they buying our information, shouldn't we be protected. I understand the law allows financial institutions to share customer information for those accounts with bad debt, but why are accounts left in good standing being sold as well? Isn't this a Federal Offense? Why isn't anyone doing anything about this? So after all my evidence I had them remove the collection account from their systems, whatever that means, probably means they've moved my account information to a resell database. Now after having gone through all this on some non-sense fraudulent debt, they have the audacity to send me a letter to ask my permission and signature to have the credit bureaus remove any inquiries they've made into my credit report. I quickly called them back to let them know I wasn't going to give them permission to mess around with my credit report, then a few days later a letter in the mail states they were informing me of their intent to have the credit bureaus remove any inquiries they've made on my report. Isn't this illegal? Now I will send them a letter and fax and follow up with a phone call requesting they stop fiddling around with any of my information, my credit report, my life period no nothing. If I find anything in my credit report regarding these guys after my phone call is placed, its time to play ball. Who wants to join my team?
Contact your State Attorney Generals' office in the state which you lawfully reside. Just make sure you know for sure you don't really owe this debt. Do your homework on your past credit, it will be better to have a full set of evidence to back your position, otherwise you're just like the millions of others who say the same thing without any proof.
If we all do our homework I bet we will come to the collective conclusion that Portfolio Recovery Associates' owners and leadership are the same individuals who were stealing your mortgages and selling you bad mortgages at the height of the Housing Market Boom. Trust me, I know for a fact this is the case with at least 90% of Debt Collection companies that started up at around the same time the Housing Market was crashing. Don't believe me, do some research online into the players in the Debt Consolidation, Debt Recovery, Credit Repair and Mortgage Repair services. I'll bet 90% of the heads of these kinds of companies are indeed the same people who ran the mortgage companies who screwed up the American economy. Now that they've screwed it all up, time to clean up their mess by sucking up whatever money is still floating around.
If only we Americans could stop feeding these incessant vultures. Learn to live within your means. Yes, we understand you must look good in your social circles, but at what cost? Your future? Your finances? Your life? Get real! Want to live a better life, get an education and apply and enhance your skills, this will bring you to a better bankroll and a simpler life. Stop feeding these fat pigs.
Same thing happened to me, a 10 year old credit card I myself closed and left in good standing came back to bite me by way of Portfolio Recovery Associates. After going through my credit and asking the credit card company to send me letters stating the last known status of my credit card account(s), it was as I had remembered it being, both accounts closed in good standing. So why are they buying our information, shouldn't we be protected. I understand the law allows financial institutions to share customer information for those accounts with bad debt, but why are accounts left in good standing being sold as well? Isn't this a Federal Offense? Why isn't anyone doing anything about this? So after all my evidence I had them remove the collection account from their systems, whatever that means, probably means they've moved my account information to a resell database. Now after having gone through all this on some non-sense fraudulent debt, they have the audacity to send me a letter to ask my permission and signature to have the credit bureaus remove any inquiries they've made into my credit report. I quickly called them back to let them know I wasn't going to give them permission to mess around with my credit report, then a few days later a letter in the mail states they were informing me of their intent to have the credit bureaus remove any inquiries they've made on my report. Isn't this illegal? Now I will send them a letter and fax and follow up with a phone call requesting they stop fiddling around with any of my information, my credit report, my life period no nothing. If I find anything in my credit report regarding these guys after my phone call is placed, its time to play ball. Who wants to join my team?
I did exactly what you did, had two (2) cards with FPB around 10 years ago. After paying my balances every single month I started to notice that the interest would never go away, no matter if paid the very next day after a purchase. After arguing with this about this I decided to pay those two cards off cancel both those accounts. So I did. Come a decade later, I started receiving letters from Portfolio Recovery Associates regarding my 'Collection Account' regarding one of my 'First Premier Bank' credit cards. Isn't it illegal for them to sell my information on accounts left in good standing? What's going on here, I know someone is making money and I'd like to know who is making the money from illegally selling personal information including my social security number, so that I may take a piece of their cake. This is totally a Federal Offense. Financial institutions have the right to share information with companies who are their service providers, such as debt collection companies, but what right does that give them for selling information on accounts left in good standing? Something is wrong here. And now my roomy is getting calls from a credit card he knows nothing about. Something seems very fishy. Lurking under the murky waters you'll find the same people who sold you bad mortgages are the people running Debt Collection, Debt Recovery, Debt Consolidation, Credit Repair and Mortgage Repair services. Look it up. It will make your stomach turn. I know first had, I've had to deal with some ex-mortgage CEOs, Presidents and CFOs all of which are in this new found field of easy money on the back of hard working Americans. So first they screw up the economy with their bad Mortgages and now they're back at it again, under a different disguise.
Totally agree. You'd be better off going to a local furniture shop to apply for credit and work it up in that manner, for thinking FPP is going to do any good for your credit is simply a pipe dream. Read my other comments about First Premier Bank and Portfolio Recovery Associates, you'll see why. And I was never late with their accounts, imagine those who are always late! May they have mercy on you.
@TiredOfCrybabies ... Sounds like someone loves his job as a Debt Collector. Get a real job son, stop preying on people! And people please stop giving guys like him work, keep your debt under control and live within your means. This way we force people like jerk here to find a job that helps the community instead of trying to suck it dry.
Use of the Internet doesn't make you smart. Be smart and think before you buy, hell I'd go as far as saying "Think before you CLICK!" It's the Internet!
