Portfolio Recovery Associates, LLC (PRA) is a debt collection company that purchases and collects charged-off debts from various creditors, including credit card companies. PRA Group, Inc., the parent company of PRA, is a publicly traded global debt buyer based in Norfolk, Virginia. PRA Group was listed in the Federal Trade Commissions 2013 Report on the Debt Buying Industry as one of the top five debt buyers in the US. PRA Group's subsidiaries include Portfolio Recovery Associates, LLC, which purchases debts from creditors and attempts to collect on them.
PRA has been accused of illegal debt collection practices and consumer reporting violations, resulting in a $24 million fine by the Consumer Financial Protection Bureau. Some of the accusations against PRA include failing to provide documentation on debts, filing court cases they knew they had no documentation for, and filing cases on debts that they knew were outside the statute of limitations.
PRA's website states that their goal is to make debt repayment fair and affordable, and they claim not to charge servicing fees or resell debt. They offer convenient payment options and policies in the debt process. If you have questions or concerns about your account, you can contact PRA at 1-800-772-1413 or write to them at [email protected] or Portfolio Recovery Associates, LLC, 120 Corporate Blvd, Norfolk, VA 23502.
