PRAA - Portfolio Recovery Associates Inc.

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PRAA Profile

PRA Group, Inc., headquartered in Norfolk, Virginia, operates as a prominent player in the financial and business services sector, specializing in the acquisition, collection, and management of nonperforming loan portfolios across the Americas, Australia, and Europe. Established in 1996 and previously known as Portfolio Recovery Associates, Inc., the company rebranded as PRA Group, Inc. in October 2014.

The company's core business involves purchasing delinquent accounts primarily comprised of unpaid debts owed by individuals to various credit originators such as banks, consumer finance companies, retailers, and auto finance entities. These accounts include a diverse range of nonperforming loans, encompassing Visa and MasterCard credit cards, private label credit cards, installment loans, lines of credit, legal judgments, and trade payables.

In addition to its primary function of debt acquisition, PRA Group offers fee-based services related to class action claims recoveries and the servicing of consumer bankruptcy accounts. This diversification of services enhances its market position and revenue streams within the financial services industry.

PRA Group maintains a strategic focus on expanding its operational footprint globally while adhering to rigorous compliance standards and leveraging advanced analytics to optimize debt collection and portfolio management strategies. Through its comprehensive approach to debt acquisition and recovery services, PRA Group continues to play a vital role in the financial ecosystem, facilitating the resolution of nonperforming loans for its clients and creditors alike.

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