Portfolio Recovery Associates or PRA Group is a debt collection agency, which receives a lot of consumer complaints to our law firm for debt harassment. Find out who they are, why they might be calling, and how you can stop them.
Who are they:
If you are getting phone calls from Portfolio Recovery Associates and are worried that it is a scam, you should understand that Portfolio Recovery is a true debt collection agency. Also called PRA or PRA Group, the business has over 1,400 employees and is based in Norfolk Virginia. Portfolio Recovery Associates is a debt buyer, meaning that they purchase packages of charged-off debt and then attempt to collect from customers.
Violations of the Law:
Portfolio Recovery Associates has had its own share of run-ins with the government. In 2014, the debt collection agency entered into an agreement with the State of New York, which had billed Portfolio Recovery Associates with violations of various state laws, such as those prohibiting deceptive practices, fraudulent or illegal actions, and threats to take actions which aren’t legal to take. The country also accused Portfolio Recovery Associates of violating the Fair Debt Collection Practices Act by using false, deceptive, or misleading representations when collecting a debt. While Portfolio Recovery Associates didn’t admit to any wrongdoing, they agreed to pay a $300,000 penalty to the nation, and agreed not to sue customers for debts which were beyond the statute of limitations. They also agreed that, when sending written communication about debts to New York customers, they would include the title of the original creditor, the last four digits of the first account number, and the date of the customer’s last payment.
The CFPB accused PRA of robo-signing court records so as to file lawsuits against customers, of threatening to sue customers over time-barred debt, along with other offenses. Portfolio Recovery Associates agreed to pay $8 million in penalties, to refund $19 million dollars to customers, and to stop selling debt portfolios to other businesses, among other states.
Can Portfolio Recovery Associates Sue Me or Garnish My Wages?
It is illegal for a debt collector to threaten to sue you or garnish your wages. It is also unlikely Portfolio Recovery Associates would sue you for a debt you may not owe or they cannot validate. However, debt collection agencies are known to have summoned debtors to court and garnish wages after a default judgement. Contacting an attorney BEFORE this could possibly happen would be a smart move. Find out if we can help you too today!
Remember you have Consumer Rights! We can help you and represent those rights. If Portfolio Recovery Associates (PRA) is calling you. "We make them pay you!"
CALL US TODAY!
At The Prado Law Firm, we can help!