Portfolio Recovery Assoc. - debt validation

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I thought so Paul. What should be my next step. Send another letter stating need more information?

Thanks

Just seen you message in last sentence. So send a letter stating that the information they sent was not even close to validating debt?

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Thanks again Paul.

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I sent them 2nd dv stating that debt has not been validated. They received and signed for letter. Now they are calling me. I thought collections had to cease until debt is validated??

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Did the letter actually use the word "bought" or "purchased"? Or assigned? As a general rule, Cap One doesnt sell accounts, particually right after charge off.

Letter say's "Proceeds were sold, assigned and transferred by the Seller to Portfolio Recovery. At the time of the sale, the Seller provided an electronic file of its business records concerning this account. According to Seller's records, there was due and payable......."

ok...you been charged off for awhile?

Yeah...I would demand a copy of the signed cardholder agreement.

The FDCPA does permit them one call to inform you of further action. I would suggest talking to them....if they dunn you for payment, remind them then they are in violation of the fdcpa for not properly validating the debt.

Thanks Soaplady

Received letter today in regards to my 2nd dv attempt. In 2nd letter I said they still have not validated debt and here is there response.

"I am writing in response to your recent dispute.

However, since you have submitted a dispute that is substantially the same as a dispute previously submitted by you and we have already responded to this dispute, then as per the Fair Credit Reporting Act, we are notifying you that such dispute is frivolous or irrelevant.

If we continue to receive subsequent correspondence from you regarding a dispute that has already been resolved, we will consider your inquiry answered. No further replies will be forthcoming unless you porvide the information we need to assist you. Our office considers this matter closed."

Again, dv from them consisted of statement saying we bought and received electronic file from Captial One.

What is my next step. Send new letter asking for signed cardholder agreement and/or that I elect arbitration?


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Bumped for Paul M.

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Thanks Paul.

anytime ozzie.

Well I sent 2nd dv letter stating what they sent me was not good enough. Today I get same canned letter saying that my dispute is frivolous or irrelevant and has been resolved. What should be my next step? I know Cap1 had an arbitration clause and I think I will send letter saying I elect arbitration.

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Ozzie,

I have 3 Capital One accounts. If you don't mind, can you give me an idea of how late you were when they sold your account and how much you owed. I just want to hear some situations so I can be aware of what I might expect in the future.

I owe $5,500 and were sold at approx. 7th month after non payment. I was somewhat surprised how fast it happened.

Paul here is my follow up letter to Portfolio.

I do not believe that I owe this debt and therefore I dispute this account. I have asked several times for documentation from you in order to resolve this matter but you have yet to send the information requested. Therefore, I am now closing my files. Do not contact me again.

What do you think??

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Paul, I read Crap1 contract on arbitration and does not say anything about tranferable. Whoever, I have been told by several other good sources that if Portfolio bought my account they also bought the arbitration clause.

I think I will add to my dispute letter that "I elect arbitration per contract".

Thanks

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Done!!! Thanks