ACTION BY CREDITOR: SEND YOU A LETTER
Did you receive a letter threatening to sue from PORTFOLIO RECOVERY ASSOCIATES LLC (PRA)? Or worse -did you get served with a lawsuit already? You have a limited amount of time to take action. The Law Office of Alberto H. Hernandez can help you resolve this debt!
PORTFOLIO RECOVERY ASSOCIATES LLC is a debt collector who purchases unpaid debt from other companies. If you receive a letter from PORTFOLIO RECOVERY ASSOCIATES LLC, it is because they purchased a debt that you had with another creditor (a credit card, a cell phone company, etc.,) and they are now attempting to collect on that debt.
ACTION BY CREDITOR: SUE YOU AND TRY TO COLLECT
Your original debt is usually sold without any notice to you to these third-party debt collectors like PORTFOLIO RECOVERY ASSOCIATES LLC after you have spent 6 months (180 days) without paying. Once PORTFOLIO RECOVERY ASSOCIATES LLC has purchased your debt, you no longer owe your original creditor the money and now have a debt with the third-party debt collector. MPORTFOLIO RECOVERY ASSOCIATES LLC can perform all of the actions as your original creditor and report negative information on your credit report, send collection letters, make collection phone calls, etc.
PORTFOLIO RECOVERY ASSOCIATES LLC has the right to sue you for the full balance (plus additional interest) owed to your original creditor. Once a lawsuit has been filed against you by MPORTFOLIO RECOVERY ASSOCIATES LLC , there is a limited window of opportunity to resolve the debt. If a judgment is entered against you by PORTFOLIO RECOVERY ASSOCIATES LLC , that judgment is valid for 20 years and they can garnish your wages or bank account at any time to collect on the debt. In the meantime, the judgment continues to collect interest every year, so your debt continues to increase if it is not paid.
ACTION BY YOU: CALL OUR OFFICE
So how can you resolve this debt with PORTFOLIO RECOVERY ASSOCIATES LLC ?
The Law Office of Alberto H. Hernandez P.A. can help you explore the options you have available to you! If you can confirm you owe the debt with PORTFOLIO RECOVERY ASSOCIATES LLC , a payment plan or settlement may be a good option for you. If you have multiple debts, it may be a good idea to explore filing for Chapter 7 or Chapter 13 bankruptcy.
It is important to keep in mind that if PORTFOLIO RECOVERY ASSOCIATES LLC has initiated a lawsuit against you, we need to act quickly to avoid any additional action by their attorneys or the court, including having a judgment filed against you.
If you are looking for advice on which option is best for you, The Law Office of Alberto H. Hernandez, P.A. offers a free consultation directly with attorney Alberto H. Hernandez, Esq. to discuss your case in greater detail. A consultation is a great first step to understand your rights under the law and help you resolve your debt. Call The Law Office of Alberto H. Hernandez, P.A. today at 305-820-0334 for more assistance!
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