What is a Fair Debt Collection Practice?
Portfolio Recovery Associates, LLC is a non-profit, limited liability company (LLC) located in Tampa Bay, Florida. The business was established in 2000 as a member of the Tampa Bay area L Litigation Services, Inc. (“L Litigation Services”). In 2004, the Company purchased its present location. In 2004 and 2005, the Company received IRS approval for its direct-selling programs.
If you have been a victim of a fraud, the last thing you want to be faced with is having to repay tens of thousands of dollars in “fees”. You may also be facing bankruptcy, repossession, wage garnishment, foreclosure, or civil liability action. Perhaps, you are just fed up with worrying about how you will make your next mortgage payment or how you will pay your next credit card bill. If you fall into one of these situations, you owe it to yourself to contact Portfolio Recovery Associates, LLC to discuss your case in detail. Portfolio Recovery Associates, LLC is a member of the FDCPA (“FDCPA Protection Act”) and is authorized to settle your unsecured debts with full payment and in full.
If your debts are not overwhelming, but the collection agency has insisted on fees, you may be able to work things out through a settlement. You can do this either by speaking directly to the debt collector or by contacting a Portfolio Recovery Associate. When contacting a Portfolio Recovery Associate, be sure to provide accurate information about your case. An experienced attorney can assist you with the accurate documentation required by the statute of limitations. You will most likely need to contact the collection agency and request an estimated reading time; usually 30 days is the minimum.
In most cases, you cannot negotiate the settlement on your own. If you are unable to settle with the credit card debt collection company on your own, your next step would be to work with a reputable Portfolio Recovery Associates, LLC attorney who has experience working with debt collection agencies. It is important to remember that if you choose to work with an attorney who practices law in the area of debt collection agency, you must disclose to them that you are being sued for recovery of debt.
Once you have decided to work directly with the debt collection company and you have received an estimated reading time from them, you are now ready to select a debt resolution expert or Portfolio Recovery Associates to help you resolve your case. You will want to select a professional who is not only knowledgeable about the laws, but also familiar with the different types of recovery cases. Some of the options available to a client of Portfolio Recovery Associates, LLC include: non-recourse claims (which means that the collection agency cannot collect any monies beyond what is owed); default judgments; and judgments for past due balances. The play group is aware of all of the options that are available to clients of theirs and they work to ensure that clients receive the best possible settlement.
Once your lawsuit has been settled, you may find that your credit rating has improved or even gone in a completely different direction. It is very important to note that there is a difference between the types of collection practices utilized by the Portfolio Recovery Associates, LLC pra group, and Fair Debt Collection Practices, which are described below. When choosing a debt resolution attorney, you should do research on their background, as well as their knowledge of the applicable laws. Also, you should inquire about the various strategies and tactics that the attorney will use to protect your interests during this process.
