Consumer complaint received 2024-09-26
Product: Debt collection — Credit card debt
Issue: Written notification about debt — Didn't receive enough information to verify debt
Company: PORTFOLIO RECOVERY ASSOCIATES INC (NJ)

Subject : Formal Complaint Regarding Accounts # XXXX and # XXXX To Whom It May Concern, I am writing to formally dispute the handling and reporting of my alleged debt accounts # XXXX and # XXXX by Portfolio Recovery Associates. These debts, as per the information reported on my credit reports, originate from XXXX XXXX XXXX, and remain with the original balances since their respective dates of origination. 

For account # XXXX, opened on XX/XX/XXXX, with an original and current balance of {$1300.00}, and for account # XXXX, opened on XX/XX/XXXX, with an original and current balance of {$840.00}, I have identified several discrepancies and potential violations of the Fair Debt Collection Practices Act ( FDCPA ) and the Fair Credit Reporting Act ( FCRA ) in your management of these accounts : Misrepresentation of Debt Amount : Despite no payments or changes to the accounts, the balances have been reported consistently : {$1300.00} since XX/XX/XXXX for the first and {$840.00} since XX/XX/XXXX for the second. This static reporting suggests a lack of proper accounting and possible misrepresentation of the current balances, which could be considered a deceptive practice under the FDCPA. 

Failure to Verify Debt : Following my disputes filed under the FCRA, it was noted that investigations were completed, yet I continue to disagree with the findings. The documentation provided, mere credit card statements, does not constitute proper verification of the debts. Under the FDCPA, verification requires more than just forwarding a statement ; it necessitates proof of the original contract and detailed accounting showing how the alleged balances were calculated. The insufficiency of your validation efforts not only fails to meet legal standards but also infringes upon my rights to accurate and verifiable data concerning these accounts. 

CFPB Enjoined Actions : In accordance with the CFPB Consent Order in 2015 ( In the Matter of : Portfolio Recovery Assocs., LLC , CFPB No. 2015-CFPB-0023 ), your company is prohibited from collecting on disputed debts like mine without providing Original Accounting Level Documentation. Your inability to produce such documentation, as noted in your argument against providing further detail due to concerns about revealing other customers ' information, does not absolve you from this requirement. The lack of detailed documentation directly related to my specific accounts violates both the consent order and the FDCPA 's validation requirements. 

Inaccurate Reporting and Failure to Correct Information : The continuous reporting of these debts as " XXXX account. {$1300.00} past due '' and " XXXX account. {$840.00} past due '' without proper verification and despite disputes suggests a failure to correct and update inaccurate information on my credit report, violating the FCRA. 

In light of these concerns and inspired by the recent legal findings against Portfolio Recovery Associates, including the case where significant damages were awarded for similar misconduct, I request the following actions be taken immediately : A detailed and verified validation of the debts, including the original contracts with XXXX XXXX XXXX. and a full payment history. 
Correction of all inaccuracies in the reporting of these accounts to all credit bureaus. 
Cease all collection attempts until the above issues are resolved satisfactorily. 
Should these issues not be addressed promptly, I am prepared to take further legal action to protect my rights. This may include filing complaints with the Consumer Financial Protection Bureau ( CFPB ) and considering civil claims for any damages I may incur due to these violations.