Consumer complaint received 2024-05-29 00:00:00
Product: Debt collection — Credit card debt
Issue: False statements or representation — Attempted to collect wrong amount
Company: Portfolio Recovery Associates, LLC
State: IL

Complaint narrative:
After reviewing the nmls it has come to my attention that portfolio recovery associates does not have a debt collection license in the state of Illinois the state license registration for portfolio recovery in the state of Illinois is a consumer installment loan license pursuant to Illinois law in order to collect debt the debt collection agency must have a specific debt collector license the consumer installment loan license that portfolio recovery associates has does not qualify nor does it authorize them to collect debt in the state of Illinois, after being made aware that portfolio recovery does not have the necessary license to collect debt in the state of Illinois I requested a copy of the license which portfolio recovery association refuse to produce after further investigation it is come to my attention that portfolio recovery associates possess a consumer installment loan license in the state of Illinois but is not a license collection agency pursuant to the financial regulations XXXX ilcs XXXX agency act which states by definition licensed collection agency means a person who is licensed under this act to engage in the practice of debt collection in Illinois, pursuant to XXXX ilcs XXXX which was previously to XXXX ilcs XXXX which states no collection agency shell operate in this state directly or indirectly engaged in business of collecting debt soliciting that claims for others have a sales office a client or solicit a client in this state exercise the right to collect or receive payment for another of any debt without obtaining a license under this act XXXX iocs XXXX section XXXX unlicensed practice violation civil penalty any person who practices offers practice attempts to practice or holds oneself out to practice as a collection agency without being licensed under this act shell in addition to any other penalty provided by law pay a civil penalty to the department in the amount of not exceeding XXXX for each offense as determined by the department the civil penalty shall be assessed by the department after a hearing is held in accordance with the provision set forth in this act regarding the provision of the hearing for the discipline of a license, pursuant to the nmls the license number XXXX is registered as a consumer installment loan license portfolio recovery associates is not the original creditor to the account they are attempting to collect debt on, account number XXXX  for XXXX XXXX XXXX address XXXX XXXX  XXXX XXXX XXXX Illinois XXXX last four digits of the social XXXX XXXX XXXX XXXX XXXX XXXX  XXXX the consumer installment loan act States and section 1 that license required to engage in business no person partnership association limited liability company or corporation shall engage in the business of making loans of money and charge contract for or receive on any such loan a greater annual percentage rate than 9 %, except as authorized by this act after first obtaining a license from the director of financial institutions hereafter called the director no licensees or employees or affiliates thereof that is license under the payday loan reform act shall obtain a license under this act except that a licensee under the payday loan act reform May obtain a license under this act for exclusion purposes and use of making title secure loans as defined in subsection a of section XXXX of this act and governed by title XXXX section XXXX of the Illinois administrative code for the purpose of this section affiliate means any person or entity that directly or indirectly control is controlled by or shares control with another person or entity a person or entity has control over another if the person or entity had ownership interest of XXXX  % or more in another the license that portfolio recovery carries in the state of Illinois is a consumer installment loan license and not a license to collect debt attached you will find screenshots from the XXXX website showing the only license that portfolio recovery has registered being the consumer installment loan license

Company response to consumer: Closed with explanation