I have read several reports here regarding Portfolio Recovery Associates. They are ruthless, unethical and do not follow the laws. SOMEONE/MANY OF US should put a stop to their practices.
In a short and sweet note I wish to share with you all that they have been trying to collect on a $350 debt for 7 years now. When they originally contacted me I explained why it had gone to collections (very ill during a pregnancy / not making any money) and I asked if I could pay them $50 per month. OF COURSE NOT! The amount they wanted at that time was $1200 /- and they would take it in two installments. I explained to them if I had that amount I would have paid it off before the debt went bad... Whatever... They wouldn't listen.
After about 6 more months of their harrassing phone cals threatening to sue me and make a decision for me, I agreed to pay them $50... They took the $50 and then a few days later WITHOUT authorization tried to take another $1000 out of my account.
Of course this was AWESOME of them, because the money wasn't there so I got hit with NSF fees and overdraft fees for having NSF fees.
When I called them the guy said he never would have tried to take out money if I hadn't authorized it.
WHAT A LIAR! And then his "supervisor" backed him up.
So 7 years later... They continue to call every day, multiple times a day.
They harass you, threaten you and try to steal from you!
Hire a lawyer and fight them.
As far as I know they aren't even licensed to collect debts from Alaskans anyways!