If you are receiving calls from Portfolio Recovery Associates, LLC, or the company has filed a lawsuit against you, act fast to assert your rights. Tariq Law defends consumers against lawsuits filed by Portfolio Recovery Associates, LLC, and helps them protect their rights under the law. The Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA) give consumers significant legal protections against unfair debt collection practices. In appropriate circumstances, we can sue them on your behalf for violating the FDCPA, FCRA, or any other applicable law.

 

Portfolio Recovery Associates, LLC is based in Norfolk, Virginia and is among the largest debt collection agency and debt-buying companies of charged-off debts. It buys delinquent accounts from banks and creditors such as Citibank, Bank of America, Dell Financial, GE Capital, Express, Gap, Lowes, Lord & Taylor, JC Penny, and Old Navy. They purchase debts from all over the country and are in fact one of the largest debt-collection businesses in the world. It has offices in Alabama, California, Illinois, Kansas, Nevada, New Jersey, Pennsylvania, Tennessee, and Texas. The company also operates under the names PRA III, and Anchor Receivables Management. It is owned by a public limited parent company, PRA Group, Inc.

 

Portfolio Recovery Associates is notorious for using deceptive and unfair debt collection practices. They have thousands of complaints made against them regarding aggressive and illegal tactics used to make debtors pay quickly. They buy old debts from credit card companies and other creditors at reduced rates and then sue the debtors themselves to collect the full debt amount as soon as possible. Better Business Bureau, in a period of three years, has received 1500 complaints from consumers.

 

In 2019, Portfolio Recovery Associates paid $4 million to settle the claim when Massachusetts Attorney General filed a class action lawsuit against Portfolio on behalf of thousands of plaintiffs claiming that Portfolio targeted vulnerable populations that include low-income, elderly and disabled consumers to collect on their delinquent debts. The Massachusetts Attorney General's office alleges that Portfolio broke federal consumer protection laws. First, Portfolio demanded payment from consumers for debts that it couldn't prove they owed; second, it misled customers with exempt income about their rights; and third, it failed to confirm the accuracy of the data it submitted to credit reporting agencies. Additionally, it even tried to collect debts that were too old to be collected.

 

Multiple suits have been filed against Portfolio Recovery Associates for violating the FDCPA for sending non-compliant letters, failing to properly inform consumers of their rights, and sending confusing and misleading letters.

In 2013, the company was slapped with a class-action lawsuit in the District Court of New York over claims that it threatened the consumers by sending drafts of legal documents with collection notices suggesting that it would sue them if the debt was not paid. As a result, $350,000 were paid to 990 consumers in the settlement.

 

Address:

Portfolio Recovery Associates, LLC

120 Corporate Boulevard

Norfolk, VA 23502

P: (800) 772-1413