Culik Law Wins at Trial Against Debt Buyer Portfolio Recovery Associates
Portfolio sued the consumer, claiming to have purchased an account from a credit card company, but Portfolio was unable to provide documentation of its assignment.
Additionally, the affidavit Portfolio provided was suspect, as it was supposedly signed in 2011, but appeared to have been manufactured in 2012.
The judge ruled in the consumer’s favor and issued a judgment against Portfolio.
The Federal Trade Commission has issued a report on debt buyers such as Portfolio, stating that they often have insufficient documentation to show that they own the debts they collect on, violating the rules of evidence.