[Day Trader]

Anyone have any experience with Portfolio Recovery? They originally sent me a collection letter whch I DVed. All I received was a BS letter about ID theft and a new tradeline on my credit reports.
Any suggestions on what my next tactic should be?

[Hedwig]

I'd send them a second letter, stating that you asked for proof that the account was yours and the how the balance was computed, and that you did not receive that information (don't reference the stuff they sent), so you expect to see the item removed from your credit reports.

Wait about a week, then send dispute letters to all three CRAs saying that you don't recogize this account. See what happens.

[Day Trader]

Yeah looks like it's time to look in the sample letter file again and start the CMRR process.
I think I'll start with the Attorney General complaint and the FTC. I always like to include those along with the letter that you recommended.

[Hedwig]

Send a copy of the letter you send them with your complaint. You might want to wait until you get their reply the second time so you have more in your complaint.

Don't use a letter you find on the internet or somewhere. Make it simple and in your own words. That always works better.

[Qtip]

Originally Posted by Hedwig

I'd send them a second letter, stating that you asked for proof that the account was yours and the how the balance was computed, and that you did not receive that information (don't reference the stuff they sent), so you expect to see the item removed from your credit reports.

Wait about a week, then send dispute letters to all three CRAs saying that you don't recogize this account. See what happens.

Actually on the dispute part, I preffer to use something factual in the event things go as far as litigation your complaint will look better. In this case my dispute to the CRA would be "account is disputed", that is always personal preference.

[zinger]

I have to agree with Qtip on this one. I document EVERYTHING. As a pro se litigant, courts appreciate it and look favorably upon you when you have dotted all your i's and crossed all your t's. When you document everything, and even offer to settle before you file, it is considered "good manners" according to the courts.

Another variant of this is that when you do document everything, when it does come down to filing, or at least drawing up a complaint to send them with an offer of an out of court settlement offer, it becomes much easier to assign the dates with the violations.

Additionally, when you appear as if you have gone the extra mile, and they have not complied, it looks better in your favor.

I believe Portfolio Recovery is a sister or umbrelled company of NCO, notorious for FDCPA violations. I have had much experience with NCO, and I think a few times Portfolio. With a DV letter, I personally have never received anything more than the same letter you received and then will occassionally get their "privacy act notice".

My personal tactic would be to document everything, then I would go for a COMPLETE DELETION with the CR. If they cannot validate it with you, the consumer, how can they be reporting the debt AT ALL on your CR? I would not go for account disputed, because that means that it is still showing on your report, and hurting your score.

The FTC and AG letters are great ideas.

Do you day trade as a living?

[Hedwig]

I never said to not document anything, just don't reference that they sent you some garbage. They didn't validate, you tell them they haven't validated and give them a time limit to reply. At this point, I still wouldn't point out that you know anything about the law, you're just disputing and want them to validate.

The reason for disputing with the CRA shortly thereafter is that if they verify it to the CRA (which they probably will) and they can't validate to you, that is a violation as they have reported (verified) information that they do not know is correct.

Also, they are supposed to mark the account as "in dispute" with the CRAs, so pull your report several weeks later, and if they haven't done that it's just another nail in their coffin.