How to Stop Portfolio Recovery From Calling
Portfolio Recovery is a debt collection agency that specializes in purchasing and collecting on delinquent debts. If you have been receiving calls from Portfolio Recovery regarding a debt, it can be a frustrating and overwhelming experience. However, there are steps you can take to stop Portfolio Recovery from calling you. In this article, we will discuss various strategies and provide answers to frequently asked questions about dealing with Portfolio Recovery.
1. Know your rights: Familiarize yourself with the Fair Debt Collection Practices Act (FDCPA) to understand your rights as a consumer. The FDCPA prohibits debt collectors from engaging in harassing or abusive behavior.
2. Request written communication: Send a certified letter to Portfolio Recovery requesting that they cease all communication with you over the phone. Be sure to keep a copy of the letter for your records.
3. Keep a call log: Document every call you receive from Portfolio Recovery, including the date, time, and details of the conversation. This will provide evidence of any potential violations of the FDCPA.
4. Dispute the debt: If you believe the debt is not valid or there is an error, send a written dispute letter to Portfolio Recovery. They are required to investigate and provide proof of the debt within 30 days.
5. Validate the debt: Request that Portfolio Recovery provide validation of the debt, including the original creditor and the amount owed. They are legally obligated to provide you with this information.
6. Hire an attorney: If you are facing persistent harassment or believe your rights have been violated, consider consulting with an attorney who specializes in consumer law. They can guide you through the process and take legal action if necessary.
7. Block their number: If Portfolio Recovery continues to call you, consider blocking their number on your phone. This can be done through your phone settings or by contacting your service provider.
8. File a complaint: If Portfolio Recovery is engaging in abusive or harassing behavior, file a complaint with the Consumer Financial Protection Bureau (CFPB) and your state’s attorney general office. These organizations can investigate and take action against debt collectors who violate the law.
9. Keep your cool: It’s essential to remain calm and composed when dealing with debt collectors. Avoid getting into arguments or engaging in heated conversations. Stick to the facts and assert your rights.
10. Know the statute of limitations: Debt collectors have a limited time frame in which they can legally sue for the collection of a debt. Research the statute of limitations in your state to determine if the debt is time-barred.
11. Seek credit counseling: If you are struggling with multiple debts, consider seeking credit counseling to develop a plan for managing your finances. A credit counselor can help negotiate with debt collectors on your behalf.
12. Set up a payment plan: If you can afford to pay off the debt, you may consider setting up a payment plan with Portfolio Recovery. Ensure that you get all agreements in writing and keep a record of your payments.
FAQs:
1. Can I ignore calls from Portfolio Recovery?
While you can choose to ignore their calls, it is generally advisable to take action to address the debt to avoid potential legal consequences.
2. How many times can Portfolio Recovery call me in a day?
Portfolio Recovery is prohibited from engaging in excessive or harassing phone calls. If you believe they are calling you excessively, you can file a complaint and take legal action if necessary.
3. Can Portfolio Recovery call me at work?
Under the FDCPA, debt collectors are generally prohibited from contacting you at your workplace if they are aware that your employer does not allow such calls.
4. Can Portfolio Recovery sue me?
Portfolio Recovery has the right to file a lawsuit to collect the debt. However, they must do so within the statute of limitations set by your state.
5. What happens if I ignore a debt collection lawsuit?
Ignoring a debt collection lawsuit can result in a default judgment being entered against you. This means that the court will rule in favor of the debt collector, and you may be required to pay the debt.
6. How long can Portfolio Recovery collect on a debt?
The statute of limitations on debt collection varies by state, typically ranging from three to six years. After the statute of limitations expires, debt collectors can no longer sue you for the debt, although they may still attempt to collect it.
7. Can Portfolio Recovery garnish my wages?
If Portfolio Recovery successfully obtains a judgment against you, they may be able to garnish your wages. However, the rules regarding wage garnishment vary by state.
8. Can I negotiate a settlement with Portfolio Recovery?
Yes, you can negotiate a settlement with Portfolio Recovery to pay off the debt for a reduced amount. Ensure that you get any settlement agreements in writing.
9. Can Portfolio Recovery contact my family or friends about my debt?
Under the FDCPA, debt collectors are generally prohibited from discussing your debt with anyone other than you, your spouse, or your attorney.
10. Can Portfolio Recovery contact me on social media?
Debt collectors are allowed to contact you through social media as long as they do not publicly disclose your debt. However, you can request that they only communicate with you through written correspondence.
11. Can I remove Portfolio Recovery from my credit report?
If the debt is valid, you cannot remove Portfolio Recovery from your credit report. However, they are required to update your credit report if you dispute the debt or if it is paid off.
12. Can I sue Portfolio Recovery for harassment?
If Portfolio Recovery engages in harassing or abusive behavior, you may have grounds to sue them for violations of the FDCPA. Consult with an attorney to determine if you have a case.
Dealing with debt collectors can be stressful, but understanding your rights and taking proactive steps can help you stop Portfolio Recovery from calling. Remember to remain informed, assert your rights, and seek professional assistance if needed to navigate this process successfully.
