Consumer complaint received 2023-01-21
Product: Credit reporting, credit repair services, or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: PORTFOLIO RECOVERY ASSOCIATES INC (IL)

To Whom It May Concern, I am writing to file a complaint against PORTFOLIO RECOVERY ASSOCIATES for violating various provisions of the Fair Credit Reporting Act ( FCRA ) and to request the consumer financial protection bureau to follow up on my requests for information. I am requesting validation and verification of the alleged debt being collected by portfolio recovery. 

Request for validation of the debt : I am requesting a validation of the debt being collected by portfolio recovery along with this complaint. The Truth in Lending Act ( TILA ), which is part of the Consumer Credit Protection Act ( CCPA ) of 1968, requires creditors to disclose important information about the cost and terms of credit to consumers before they enter into a credit transaction. This helps consumers understand the terms and costs of a credit transaction and make informed decisions about whether to enter into the transaction. Debt collectors, on the other hand, are regulated by the Fair Debt Collection Practices Act ( FDCPA ), which regulates their behavior and communication with consumers. 

In any request for validation of the debt, these laws work in tandem. TILA addresses issues between a creditor and a consumer, while the FDCPA addresses issues between a debt collector and a consumer. In this case, portfolio recovery has assumed both the role of creditor and collector, by buying the debt from the original creditor. I am requesting detailed proof that the debt is valid, including a copy of the original contract or agreement with my wet signature, and a detailed and signed contract or agreement that the debt collector or current creditor has the legal right to collect on the debt, including the signed terms between the creditor and collector ( portfolio recovery ) sold along with the debt, the amount of the debt, and the name, address, and phone number of the original creditor. 

Under the FDCPA, Section 809 ( a ) states that a debt collector ( portfolio recovery ) must provide validation of the debt to the consumer within five days of the initial communication. I did not receive this validation, which constitutes a violation of the law. Furthermore, the failure to validate this debt violates the Fair Credit Reporting Act ( FCRA ), specifically 15 U.S.C. 1692g ( b ), which protects consumers from being pursued for debts they do not owe or have already been paid. I request portfolio recovery to send me the validation of this debt as requested above. If portfolio recovery fails to validate the debt, I dispute the debt, and request portfolio recovery to contact the credit reporting agencies to remove the debt from my credit report, as per 15 U.S.C. 1681s-2 ( a ). 

Request for verification of the debt : I am also writing within this complaint, a direct request for information from portfolio recovery regarding the original contract of the debt that I am being pursued for. Pursuant to the Fair Credit Reporting Act ( FCRA ), as a consumer, I have the right to request verification of the debt. The information I am requesting ( XXXX items ) includes : The original creditor 's name and account number associated with the debt The name and address associated with the debt The date the account was opened and the date it was charged off or sent to collections The date the account was first reported as delinquent to the original creditor ( original default date ) Itemized billing and payment history associated with this debt The original amount of the debt and the current balance A signed copy of the original contract or agreement, including any terms and conditions that were agreed upon A signed agreement/contract that shows the debt has been assigned or sold to the collection agency The signed terms of debt assignment to the collections agency by the original creditor Information about any interest, fees, or penalties that have been added to the debt Signed proof of ownership of this alleged debt, including documentation or proof that the collection agency has the legal right to collect the debt, such as a signed copy of the original contract or loan agreement The current account number associated with the debt A breakdown of any fees or interest that have been added to the debt Information on any previous collection agencies that attempted to collect the debt The statute of limitations on the debt in Illinois. 

The FCRA requires portfolio recovery to provide this information within 30 days of receipt of this request ( 15 U.S.C. 1692g ( a ) ). Any failure to verify this debt as requested above violates the FCRA, specifically 15 U.S.C. 1692g ( b ). In the event that portfolio recovery fails to validate the debt, I dispute the debt and request portfolio recovery to contact the credit reporting agencies to remove the debt from my credit report, as per 15 U.S.C. 1681s-2 ( a ).

It is important for portfolio recovery to note the written nature of these requests for validation and verification of information on the debt. Similarly, the responses must be made in writing, and failure by portfolio recovery to comply with these requests may result in a violation of the Fair Debt Collection Practices Act ( FDCPA ) and the Fair Credit Reporting Act ( FCRA ). Furthermore, these requests are in line with the FCRA which requires the collections agency to provide me with the documentation that I have requested. Specifically, FCRA Section 609 ( a ) ( 1 ) requires that portfolio recovery must provide me with the information that is used to calculate my credit score. 

Lastly, within this complaint, I am writing to express my concern about the abuse that I have suffered at the hands of portfolio recovery. I am calling on the Consumer Financial Protection Bureau ( CFPB ) to closely monitor their practices and hold portfolio recovery accountable for their actions. The Fair Credit Reporting Act ( FCRA ) requires credit reporting agencies to reinvestigate credit reports when they receive notice of a dispute, as per 15 U.S.C. 1681i ( a ) ( 1 ) ( B ). I believe that the CFPB has an important role to play in ensuring that credit reporting agencies comply with this requirement and that consumers like myself are protected from unfair treatment. I respectfully request the CFPB to require an update of my credit report to reflect the accurate reporting that the law requires and request the deletion of any information relating to this complaint that is invalid and unverified and being reported by portfolio recovery. Just like all Americans, I believe that my credit report should only contain accurate and verified information. I appreciate your attention to my long complaint and to this matter and look forward to your response. 

Sincerely, XXXX XXXX