Have you been contacted by Portfolio Recovery Associates regarding a debt? If so, you may be experiencing a range of feelings. You may be confused, because you’ve never heard of Portfolio Recovery Associates. You may feel worried about the debt you owe and how you’ll pay it back. You could even be angry that your debt has been turned over to a collection agency. You probably have a lot of questions.
However you are feeling, it is time to take action. Should you pay Portfolio Recovery Associates?
Why am I being contacted by a company I’ve never had business with?
When creditors have unpaid accounts, they often sell them to collection agencies in order to try and recoup a portion of their losses. That’s why you are being contacted by a different company than the original creditor. Collection agencies are legitimate companies, but that doesn’t mean you are obligated to pay them.
How can Debt Legal Defense Help?
We can defend you against collection agencies like Portfolio Recovery Associates and others. In some cases your debt can be eliminated. In other cases a settlement can be reached that significantly reduces your debt so that you only pay a part of what you owe. This is why we advise clients not to pay anything to the collection agency and to contact us first.
What methods does Debt Legal Defense use to resolve my debt?
There are a few different tactics debt defense lawyers use to resolve disputes between clients and collection agencies.
- Lack of proper documentation. In order to legally claim a debt, the collection agency must have legal documentation that proves you are the individual who owes the debt, the correct amount of the debt, and a signed agreement to the terms of the credit issued. In many cases when the account is sold, the documentation gets lost in the shuffle. Some accounts are even sold multiple times before landing with the collection agency that is now contacting you. Many cases are dropped due to lack of proof.
- Statute of limitations. There are limitations on how long a creditor or collection agency has to file a lawsuit for a debt. These statutes of limitations vary from state to state, and if the lawsuit is filed after the legal time frame, the case can be dismissed.
- Settlement. If the debt is proven to be legitimate and the case cannot be dismissed, the next best option is a settlement. Your lawyer can negotiate with the collection agency to reduce the amount you owe, making it much less of a financial burden to pay back. In many cases, defendants pay just a fraction of the original debt.
Is Debt Legal Defense Affordable?
Does it save you money to hire legal representation in a debt defense case? Yes. Although lawyers charge fees for their services, it is much less than the amount of your debt. Attorneys fees are set to a flat fee for a specific monetary range of debt. Monthly payments plans are available to make your legal fees more affordable and budget friendly.
Should you pay Portfolio Recovery Associates? No. It is always in your best interest to contact a debt defense lawyer. Call (210) 468-1008 today or request an appointment. You have limited time to respond to a debt lawsuit before serious consequences are applied, so don’t wait. Avoid a judgement, bank garnishment, and other negative actions against you by contacting Debt Legal Defense today.