18006548818 (2024)

FAQs

Who is calling me from 800-654-8818? ›

We're Portfolio Recovery Associates, LLC and we're changing the way debt collection works. If you have been contacted by us it's because your original creditor sold us your account, and we now own your debt.

Yes, Portfolio Recovery Associates is a legitimate company. Portfolio Recovery Associates is a debt buyer that engages in the business of buying charged-off and defaulted consumer debts from creditors.

It is not uncommon today for people to be pursued by debt collectors for money they don't owe. This occurs for several reasons: the original creditor may have made an accounting error, you may be a victim of identity theft, or the creditor may have found the wrong person with a similar name.

This communication is from a debt collector and is an attempt to collect a debt. Any information obtained will be used for that purpose.

Number doesn't match the caller ID name (e.g., says a big company but has a local number) Claims to be from a government agency like the IRS or FBI (they won't call you out of the blue) Caller ID shows "Scam Likely" or "Spam Risk" (your carrier has flagged it as potential spam)

Capital Recovery Systems is not fake or a scam. They are a legitimate business, however, their persistent calls might feel overwhelming.

Unfortunately, if you ignore the lawsuit, you can get a default judgment against you even if you have viable defenses against the case. Portfolio Recovery Associates would be legally entitled to collect the total amount of debt from you, including interest and late penalties.

You Must Always Respond When You Receive Court Papers

Regardless of whether you believe the debt is yours, companies like Portfolio Recovery Associates are using the legal process to get a default judgment against you. If you ignore court papers, PRA will obtain a valid default judgment that it can begin to enforce.

Can Portfolio Recovery Associates garnish my bank account or wages?: If a judgment has been entered against you, a judgment creditor may execute on the judgment through garnishment of your bank account or wages. However, you may be entitled to claim an exemption to the garnishment or otherwise defend against it.

Use this 11-word phrase to stop debt collectors: “Please cease and desist all calls and contact with me immediately.” You can use this phrase over the phone, in an email or letter, or both.

What not to tell a debt collector? ›

You never want to give the debt collector personal information about your finances and assets, such as your Social Security number, your bank account number unless making a payment, your income, or the value of your assets.

If you receive a notice from a debt collector, it's important to respond as soon as possible—even if you do not owe the debt—because otherwise the collector may continue trying to collect the debt, report negative information to credit reporting companies, and even sue you.

If you've been contacted by us, it's because your original creditor sold us your account, and we now own your debt. Learn more about how debt collection works in general and at Portfolio Recovery Associates, LLC.

Portfolio recovery companies acquire large volumes of unpaid accounts, typically at a discounted price, from original creditors such as banks, credit card issuers, or utility providers. The discounted price reflects the inherent difficulty in collecting the debt, as some debtors may be unable to repay.

Why is Spring Oaks Capital Calling Me? Spring Oaks Capital is likely calling you because they have acquired a debt that they believe you owe. This means they either purchased the debt from an original creditor (like a credit card company or a bank) or they've been tasked with collecting on the debt.

Yes, RMS Collections is a debt collection agency. They buy debt from a number of different creditors that no longer wish to attempt to collect the amount themselves (also known as a "charge-off"). RMS Collections may attempt to reach out via mail or phone calls (demanding payment).

Apps like Truecaller or Hiya provide caller ID services and spam detection, helping you identify unknown numbers instantly.