[fatboy]

Sent validation letter 06/15/07

PRA reply creditor's name,address,acct holder name, address, ssn, PRA purchase date & balance.

Sent 2nd request


PRA reply Affidavit of Ownership

sent do not accept affidavit and request for validation

PRA reply Chaundry letter 03/26/08

I am in Texas and read a post that said to send next letter to Allison Cannizaro. On all letters from PRA the ballance is different.
Who is Allison?

On credit report the type acct is installment the oc said it was revolving. What is the difference? PRA is reporting as disputed.

Should I send letter to Allison & PRA?

This is my first post and any info would be helpful.

[hannah]

Allison is an attorney with Sessions, Fishman, and Nathan who actually has the authority to make decisions for PRA.

That said, you haven't included enough info in your post to make any conclusions about your problem nor asked questions that can be answered productively. Seems to me that PRA has provided validation in the strict sense of the FDCPA but perhaps not enough under Texas law.

When did you make your last payment on this alleged account that brought it current when the OC still owned it? What kind of account is it? Credit card, medical, etc?

[fatboy]

last payment to OC march 2006

credit card Providian

Can they charge interest? The amount now is more then the OC.

[hannah]

Originally Posted by fatboy

last payment to OC march 2006

credit card Providian

Can they charge interest? The amount now is more then the OC.

Yes they can charge interest as they purchased the account. How much depends on a number of factors as they will say they can charge as much as Providian did but that's debatable.

You are still within statute under TX law. Why were you DV'ing this account? What do you want to prove or gain? When you sent your first DV were you responding to a dunning letter?

[fatboy]

portfolio sent dunning letter. Said they had purchased from Wa MU.
I did not have acct with Wa Mu.

I found a suit by the Attorney General of Texas, and in the factual allegations said some thing on collecting interest.

I have the web site but do not know if I can post it here. I will sent it or post it if it is ok.

[fatboy]

Is PRA a creditor or third party debt collector?

TFC 392.303 (2)

collecting or attempting to collect interest or a charge,fee or expense incidental to the obligationunless the interest or incidental charge,fee,or expense is expressly authorized by the aggrement creating the obligation or legally chargeble to consumer

TFC 392.001 says only a creditor can charge interest.


Anyone know if this is correct?

[hannah]

Originally Posted by fatboy

Is PRA a creditor or third party debt collector?

TFC 392.303 (2)

collecting or attempting to collect interest or a charge,fee or expense incidental to the obligationunless the interest or incidental charge,fee,or expense is expressly authorized by the aggrement creating the obligation or legally chargeble to consumer

TFC 392.001 says only a creditor can charge interest.


Anyone know if this is correct?

Since PRA now owns your debt, they are a quasi-creditor as some state laws allow them to "step into the shoes" of the OC if the bill of sale from the OC to them expressly says they purchased "all rights". If the debt is from a national bank however, that was located in a state that allows high default interest (some up to 36%) this may violate state usury laws.

But since they do not issue credit, under banking law, they are not a creditor as defined. To tell you the truth, I'm not sure in TX if they can collect interest or not. In WV and Ohio, they cannot.

PRA is a debt buyer. Under federal law they are a debt collector. Under several states laws they are a debt collector. They purchase debts already defaulted on and then try to collect them. They will tell you they are a factoring company but they are not as legitimate factoring companies buy only accounts in good standing.

[jlynn]

Originally Posted by fatboy

Is PRA a creditor or third party debt collector?

TFC 392.303 (2)

collecting or attempting to collect interest or a charge,fee or expense incidental to the obligation unless the interest or incidental charge,fee,or expense is expressly authorized by the aggrement creating the obligation or legally chargeble to consumer

You would need to look to the original agreement.

TFC 392.001 says only a creditor can charge interest.

001 is only the definitions section. Nothing there that says that.

[fatboy]

Sorry Texas Securities Act 302.002

[jlynn]

OK, well that doesn't say "Only a creditor" either.

[fatboy]

If I read it correctly, attempting to collect interest, is a violation of the TFC, unless they have the original agreement.

[jlynn]

It doesn't say unless they have the original agreement, it says if authorized by the original agreement. Its up to you, in lawsuit discovery to prove they don't have the original agreement, and therefore cannot prove interest was authorized.