Has anyone else had to deal with Portfolio Acquisitions on their credit report?

Question

I checked my credit report recently and found Portfolio Acquisitions as a negative closed account for charges I do not recall incurring. Any suggestions?

Answer 1

They buy charged off debt.  They are considered a "debt collector" under the Fair Debt Collection Practices Act.  http://www.ftc.gov/bcp/edu/pubs/consumer...  Send them a dispute letter, "I dispute the validity of this debt.  Please send me verification."

Answer 2

Dispute directly with the credit bureaus. Send them a letter via Certified Mail + Return Receipt stating:

Per the Fair Credit Reporting  Act, I am requesting written validation of this alleged debt

Answer 3

They are just another scum sucking, bottom feeder collection agency. I agree with Slimick, but you should send an "unknown debt" demand to validate letter. You can find samples on CreditInfoCenter.com and CreditBoards.com

Answer 4

You can use credit repair agency, for example this one - http://freecreditreport.deep-ice.com

They will clean lots of such bad stuff from your credit report - and do it much faster than yourself, so your credit will go up.