Consumer complaint received 2020-01-16
Company: PORTFOLIO RECOVERY ASSOCIATES INC
State: GA
Product: Debt collection
Sub-product: Credit card debt
Issue: False statements or representation
Sub-issue: Attempted to collect wrong amount

Complaint:
I have disputed accounts, that are not correct. With all bureaus. 
more than one time. For years now. The original creditor was XXXX XXXX. Then they created account for XXXX XXXX. Then portfolio recovery. They have tons of companies under the name portfolio. This is a scam and is against regulations. This is fraud in setting up these corporations as a arctic to manipulate the credit scores. To cause serious damage to score. To cause future interest rates and fees being higher than pawn shops. This is deceptive practices. 
Portfolio recovery shows four accounts. Two accounts they have under portfolio recovery. The next is under XXXX  XXXX. This should not show for two open accounts for one account. This is done maliciously to hurt the credit score. To manipulate the credit score and worsen the chances for future jobs and credit. This keeps me from being able to rebuild my credit to borrow money to pay off the original collection. That they show is over double the original maximum credit amount. 

Portfolio recovery and XXXX  XXXX uses this tactic to show I opened two more new accounts. They know this kills the credit score and doubles the damage. Which is manipulating the credit bureaus and credit score and causes long term damage. Even after debt is settled. These accounts remain to lower credit score and to keep consumer in their high risk interest rates and fees. For the initial creditor to lend new money, for the debt to be collected in excess by portfolio. Which keeps portfolio in business and creditor get higher interest. In future new accounts being offered. 

It should not show the full amount due, in the payment box. It still shows the monthly payment due on four accounts Then it shows again on the new accounts with over double the maximum credit limit as my monthly payment amount due for the monthly payment. 

It is not right to show I have opened this second account. Only one account should show for one account due. This is a tactic to worsen score by showing a huge amount due in the monthly payment box. For a new account that I never authorized to open. 
Also it hurt the credit score worse for showing over the credit limit and shows I am at maximum of credit limit. Which also looses points. For each one of these issues. They know if the balance shows at or above limit. It lowers points. Which they show 4. 

I can not get any loans with these monthly payments showing huge monthly payments, over the limit or at the limit on new account created to do this. If cresitor decides to sell this account. Only one account should show. Now it shows as a charge off on one account.  Then it shows as another new opened account with a new company. Portfolio recovery and XXXX XXXX is one company. The initial debt was with XXXX XXXX. Not these two portfolio corporations created to manipulate the scoring system and leave The new fake accounts to hurt scores into many years into the future. Also employers see four collections. 

Showing four accounts in the charge off, over limit, inaccurate monthly payments, inquiry, collections duplicated etc. 

This really hurts a consumers credit score showing a new account being delinquent. 

I lost my job at XXXX  due to these multiple accounts being duplicated by portfolio recovery, XXXX XXXX and XXXX XXXX. I can not get another job in my industry and I can not get any loans to pay these off. Because XXXX  one, portfolio recovery and XXXX  XXXX are making the score drop dramatically by showing a new account being in collections and past due for a huge amount monthly. 

I believe this is unfair and unethical business practices, fraud, false reporting, manipulation, untrue statements, internet and mail fraud. They know this will cause the score to drop much farther. Than if it just showed one delinquent account. Portfolio recovery shows R9 chargeoff But portolip XXXX shows they started duplicating the reporting in 2016. This has been killing my credit for several years and does not allow me to enter back into my occupation. They reported both accounts at the same time. 

I believe this is fraudulent behavior. It is inaccurate information and is using credit reporting agencies to manipulate their system for using unfair and unethical business practices to put the consumer or employee in a worse situation to be out of a job. XXXX continues to send me preapproved offers for another new account. This is unfair to do this again to me. It is a trap. The interest rate was initially over 20 percent daily compounded interest which equates to over 30 percent. With the fees they added. The initial debt was XXXX. This is really unfair to give a consumer a loan and charge almost 3 times what was initially borrowe. Then to force a person to pay 3 or 4 times what was borrowed. Now they send me offers to do this again and continue this scheme for the rest of my life. So now they want me to borrow, To pay toward the debt that is more than I make in 2 months working at low end job. Out of my occupation. 

I believe this can be a class action lawsuit. I see many bad things with this behavior. I have disputed with bureaus and both of these accounts show they are not going to correct this behavior.

Company response to consumer: Closed with explanation