Portfolio Recovery Associates: Contact Info & What To Know

Portfolio Recovery Associates (PRA) is a major debt collection agency. If they're calling you, it's essential to understand your rights and options. Here's a breakdown of how to contact them and what to do next. In our experience, knowing your rights is the first step in resolving any debt collection issue. We've seen countless cases where understanding the process leads to a more favorable outcome.

Contacting Portfolio Recovery Associates

Portfolio Recovery Associates Phone Number

The main Portfolio Recovery Associates phone number is 1-800-772-1413. Use this number to discuss your account, payment options, or to request documentation. Our analysis suggests that calling during business hours (Monday-Friday) yields the fastest response.

Portfolio Recovery Associates Address

Here is the address you can use to send a letter:

Portfolio Recovery Associates, LLC 120 Corporate Center Drive Norfolk, VA 23502 — U20 World Cup: Everything You Need To Know

Website

https://www.portfoliorecovery.com/ is their website.

Why is Portfolio Recovery Associates Contacting You?

Portfolio Recovery Associates buys debts from various creditors, including credit card companies, banks, and other lenders. If they're contacting you, it's likely because they believe you owe a debt that they now own. This often happens after an account has been charged off by the original creditor.

Important: Don't automatically assume you owe the debt. Always verify. Request validation of the debt. According to the FTC, you have the right to request validation of the debt (FTC, https://www.consumer.ftc.gov/).

What to Do When Contacted by Portfolio Recovery Associates

1. Request Debt Validation

This is your most crucial step. Within 30 days of the initial contact, send a written request for debt validation. This letter should ask PRA to provide: — 49ers Game Today: How To Watch, Time, And More

• The name of the original creditor.
• The account number.
• A copy of the original contract or agreement.
• Documentation showing they have the legal right to collect the debt.

Why is this important? PRA must prove they own the debt and that the amount is accurate. If they can't, you may not be legally obligated to pay.

2. Review the Information Carefully

Once you receive the debt validation, carefully review it for accuracy. Look for discrepancies such as:

• Incorrect account numbers.
• Wrong amounts owed.
• Dates that don't match your records.
• An original creditor you don't recognize.

If you find any errors, dispute the debt in writing immediately.

3. Understand Your Rights

The Fair Debt Collection Practices Act (FDCPA) protects you from abusive, unfair, and deceptive debt collection practices. PRA is required to follow the FDCPA (Consumer Financial Protection Bureau, https://www.consumerfinance.gov/). Under the FDCPA, they cannot:

• Harass you with repeated phone calls.
• Call you before 8 a.m. or after 9 p.m.
• Use abusive or threatening language.
• Make false statements about the debt.
• Threaten legal action they don't intend to take.

4. Explore Your Options

If the debt is valid, you have several options:

• Negotiate a settlement: Offer to pay a portion of the debt in exchange for the entire debt being forgiven. PRA may be willing to accept a lower amount, especially if the debt is old.
• Set up a payment plan: Arrange to pay the debt in installments over time. Make sure to get the agreement in writing.
• Challenge the debt: Even if they provide some validation, you can challenge the debt, especially if something seems inaccurate or you believe the statute of limitations has expired.

5. Seek Legal Advice

If you're unsure of your rights or facing aggressive collection tactics, consider consulting with a consumer law attorney. A lawyer can advise you on your legal options and represent you in negotiations or litigation. The CFPB (https://www.consumerfinance.gov/) also provides resources.

Dealing with Potential Lawsuits

Portfolio Recovery Associates, like many debt collectors, sometimes files lawsuits to collect debts. If you're served with a lawsuit, don't ignore it! Failing to respond can result in a default judgment against you.

What to Do If You're Sued

1. File an Answer: Respond to the lawsuit within the time frame specified by the court (usually 20-30 days). In your answer, state your defenses and reasons why you don't owe the debt.
2. Attend Court Hearings: Appear at all scheduled court hearings. Failure to appear can result in a default judgment.
3. Consider Legal Representation: If you're facing a lawsuit, it's highly recommended to seek legal representation. A lawyer can help you navigate the legal process and protect your rights.

Key Considerations

• Statute of Limitations: Each state has a statute of limitations on debt, which is the amount of time a creditor has to sue you to collect a debt. If the statute of limitations has expired, PRA may not be able to sue you, though they can still attempt to collect. According to Nolo.com, statutes of limitations vary by state (https://www.nolo.com/).
• Credit Reporting: Debt collection accounts can negatively impact your credit score. Negotiating a "pay-for-delete" agreement, where PRA agrees to remove the collection account from your credit report in exchange for payment, may be possible. However, they are not obligated to agree to this.

FAQ About Portfolio Recovery Associates

What is Portfolio Recovery Associates?

Portfolio Recovery Associates (PRA) is a debt collection company that purchases debts from original creditors, like banks and credit card companies. They then attempt to collect these debts from consumers.

Is Portfolio Recovery Associates a legitimate company?

Yes, Portfolio Recovery Associates is a legitimate company. However, like all debt collectors, they must comply with the Fair Debt Collection Practices Act (FDCPA).

How do I stop Portfolio Recovery Associates from calling me?

You can send a written cease and desist letter to Portfolio Recovery Associates. This letter instructs them to stop contacting you. However, they can still pursue legal action if they choose.

Can Portfolio Recovery Associates garnish my wages?

Portfolio Recovery Associates can only garnish your wages if they obtain a court judgment against you. If you're facing wage garnishment, seek legal advice immediately.

How do I negotiate a settlement with Portfolio Recovery Associates?

Start by offering a lower amount than what you owe. Be prepared to negotiate and have the funds available if they accept your offer. Get any settlement agreement in writing before you pay.

What if I can't afford to pay Portfolio Recovery Associates?

Explore options like debt counseling or bankruptcy. A consumer law attorney can advise you on the best course of action based on your individual circumstances. — 1/8 As A Percentage: Easy Conversion Guide

Conclusion

Dealing with debt collectors like Portfolio Recovery Associates can be stressful, but knowing your rights and options is essential. Always request debt validation, understand the FDCPA, and explore all available options, including negotiation and legal assistance. By taking these steps, you can protect yourself and work toward a resolution. Remember, you have rights, and you don't have to face this alone. Take action today to understand your situation and explore your options.