866-321-8194

No message left

Portfolio Associates!  Another disguise number.  No message left.

Received call this morning.  Left no message.  Must not be important! Will BLOCK this caller.

This is Portfolio Recovery Debt Collection. I believe they are legitimate but the problem is they buy old debts out from 10-15 YEARS AGO and are trying to collect on it when it’s already been charged off by original company and credit bureaus years ago. But they use the same tactics of threat etc etc that they cannot legally do as the debt is no longer valid with original owner of loan or credit bureau and by law any company that buys out these debts has no legal rights to do anything besides request and that’s it. That’s why they don’t leave messages. So it’s harrassment and bothersome but just know they are full of HOT AIR.

above reports are accurate.  Be aware that they sometimes attempt to collect old debt that may be past the statute of limitations applicable to your debt.  That time varies from state to state, and may be affected by where you were when the debt was incurred.  Making a payment or a new agreement to make payments might resurrect a debt which is otherwise not collectible through the courts.  Bottom line is consult an attorney if you want to find out if the debt involved is collectible or not.

Like others said it’s a legit debt collector of old charge offs that no longer exist on your credit and they can’t do anything about but harass you. Don’t give them anything and block them.

I am not sure where you got your law degree, but when I learned contract law, when that loan, credit card, whatever is assigned by the original creditor to a debt buyer it automatically transfers any rights under that contract to the assignee.  Credit bureaus do not issue credit, the simply report it.

What about the debts it has that are not old and that it has sued people over?  That would be a little more than harassment.

You are 200% right

I do not have any old debt and regard these calls from multiple numbers as simply scams.

told them to send in writing name of company said money is owed to, and the amount owed. they did not send me anything.  so....

They are not legitimate! Fraudulent company! They try to collect debts way after statue of limitation as expired!

This is a long comment, but I think many might find it useful. I get calls from Portfolio Recovery constantly trying to collect a 15 year old debt that was actually paid off; but the bank screwed up it's record keeping during a merger. The statute of limitations only applies to how long the lender has to file legal action for the debt. It doesn't mean the debt doesn't have to be paid anymore. You still owe it to the lender, they just can't use the courts to collect it. The only way debt is truly extinguished is if the lender has officially written it off, sent you a 1099-C for the amount of debt (if $600 or more) they charged off, and you included it in your income taxes. Even if it's less than $600 and you don't get a 1099 you're supposed to report it to the IRS. The IRS considers debt forgiven by the lender as income to the debtor, since the $x owed to them now stays in your pocket the IRS treats it like the lender paid you $x.. Outfits like Portfolio Recovery (which has hundreds of numbers it calls from) buy blocks of these old debts and try to collect whatever they can using all kinds of scare tactics. None of the money they collect goes back to the original lender because they've already reported a loss for the uncollected/charged off debt on their company's tax returns. Anything collected goes to the collection agency - it's how they make their money. What they are doing is technically legal, but if the statute of limitations to sue for the debt has passed, the lender wrote it off and you reported it properly to the IRS you're under no obligation to pay it anymore. If a legitimate wasn't formally charged off and reported for tax purposes then you still owe the debt to the original lender and should make payment arrangements; but you're not  required to make payment arrangements with any collection agency acting as their collection agent.

Trying to collect from the previous owner of cell number.

866-321-8194   Portfolio Recovery Associates: Bottom feeders
866-321-8194   Portfolio Recovery Associates: Bottom feeders