Founded in 1996 and operating as a subsidiary of the publicly-traded PRA Group, Inc. (Nasdaq: PRAA), Portfolio Recovery Associates, LLC is a major player in the accounts receivable management industry. Its core business involves purchasing portfolios of nonperforming loans (such as defaulted credit card debt) from credit originators like banks and other lenders at a significant discount. The company then manages these accounts and engages in collection activities to recover the outstanding balances from consumers. While its stated mission involves helping consumers resolve their financial obligations, the company has faced significant regulatory actions regarding its collection methods.

Founded in

Sweden