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Consumer Complaints Against Portfolio Recovery Associates (PRA)
Disclaimer: The following content is a summary of complaints submitted to the Consumer Financial Protection Bureau (CFPB) by consumers. The information provided is intended to inform and educate consumers about potential issues and experiences reported with the mentioned entity.
This article is a summary of complaints submitted by consumers to the Consumer Financial Protection Bureau (CFPB) regarding their experiences with Portfolio Recovery Associates, Inc. If you’ve faced similar situations, know that you have rights under the Fair Debt Collection Practices Act (FDCPA) and Fair Credit Reporting Act (FCRA). Keep reading to learn about these issues and the legal recourses available to protect yourself.
Key Complaints Reported by Consumers
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1. Failure to Provide Validation Documentation
A major complaint involves Portfolio Recovery Associates’ failure to provide consumers with necessary validation documentation. Many have reported that, despite sending requests, the company does not supply essential details such as the original creditor’s information, account numbers, or proof of the alleged debt. Without this transparency, consumers are left unable to contest debts they believe to be erroneous or invalid.
Your Rights Under the FDCPA and FCRA:
- Debt collectors must provide validation documentation within five days of your request.
- You can dispute a debt and request verification if the debt is invalid or you do not recognize it.
- If the debt remains unverifiable, it cannot be legally pursued or reported to credit agencies.
Need assistance? Contact us for a free consultation with legal experts in consumer protection laws.
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2. Harassment and Excessive Calls
Many consumers claim they have experienced harassment through excessive and aggressive calling practices. Complaints frequently mention receiving multiple calls daily, often from different numbers, including private and blocked lines. Even when individuals explicitly ask for the calls to stop, they often persist, creating undue stress and frustration.
Your Rights Under the FDCPA:
- Debt collectors cannot use harassment, threats, or abusive tactics.
- You have the right to request that debt collectors cease communication.
- Violating these rules makes the collector liable for penalties.
If this sounds familiar, we can connect you with legal experts to help you take action.
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3. Improper Reporting to Credit Agencies
Another common issue involves inaccurate reporting by Portfolio Recovery Associates to credit agencies. Consumers have highlighted instances of unverifiable or wrong information being reported, causing unnecessary damage to their credit scores. This raises concerns about compliance with the FCRA, which ensures accurate and fair reporting.
Your Rights Under the FCRA:
- Credit information must be accurate and verifiable.
- You can dispute incorrect entries on your credit report, and the reporting agency must investigate within 30 days.
- If errors persist, you may be entitled to damages.
Take back control of your credit: Speak with a specialist for a free review of your case.
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4. Pursuing Debts Past the Statute of Limitations
Portfolio Recovery Associates has been accused of pursuing debts that are past their statute of limitations. Consumers report receiving calls, legal threats, or letters about debts that can no longer legally be collected on. This practice often causes confusion and undue stress for individuals who thought the matter was resolved.
Your Rights Under the FDCPA:
- Debt collectors cannot sue or threaten you over debts past the statute of limitations.
- Informing the collector in writing that the debt is time-barred can halt further action.
- Any attempt to pursue uncollectible debts is a violation of your rights.
Stop the harassment today. Contact us, and we’ll help you protect yourself against illegal collection practices.
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5. Unidentified Debt or Fraudulent Accounts
Cases of identity theft and fraudulent debt are also commonly reported. Consumers report being pursued for debts they do not owe or accounts fraudulently opened in their names. These situations further complicate financial matters and leave victims feeling overwhelmed.
Your Rights Under the FCRA and FDCPA:
- You can dispute debts traced to identity theft.
- Debt collectors must cease collection efforts while the dispute is being investigated.
- You can request the removal of fraudulent debts from your credit report.
If you’re dealing with fraudulent debt, reach out for free guidance from a legal professional.
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Free Legal Assistance for Victims of Debt Collector Violations
If you’re facing similar issues with Portfolio Recovery, it’s crucial to know your rights and act quickly. You don’t have to deal with these violations alone.
How To Get Free Legal Assistance
- Step 1: Reach out to our legal experts for a free consultation.
- Step 2: Share your experience, and we’ll help assess whether your rights under the FDCPA or FCRA have been violated.
- Step 3: If applicable, we’ll guide you through the process of filing a claim and stopping illegal collection practices.
Our legal experts specialize in protecting consumers like you from unfair debt collection practices. Take control of your situation today and assert your legal rights.
Contact us now for your FREE consultation and stop unfair debt collection practices in their tracks!