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Portfolio Recovery Associates

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Portfolio Recovery Associates is a large company. They launched in 1996 and took the company public (NASDAQ: PRAA) in November 2002. While in the fourth quarter of 2009, Portfolio Recovery Associates raked in $95.3 million in collections. Their collections target three areas. First, they buy bad debt that companies have charged off and debt that has been too difficult to recover on account of bankruptcy, and hound consumers into paying money that might or might not be owed.

Portfolio Recovery Associates boasts that, in 2009, they accumulated $16.5 million in debts they’d owned for more than five years. Second, they can be the bloodhounds that work for car loan companies. Third, they run debt collection for local governments.

Stop Portfolio Recovery Associates Calls:

In the case that you want to stop Portfolio Recovery Associates’ calls, the very first thing you’ll want to do is answer the phone. Whilst it’s tempting to avoid debt collector calls and past due notices from places like Portfolio Recovery Associates, doing this will simply delay the inescapable all of which will make your situation more serious over time.

That does not imply you need to roll over and throw yourself on the mercy of Portfolio Recovery Associates, though. Without a doubt, being aware what you’re up against is the initial step in taking back your power and regaining control over your financial life. Remember, regardless that it’s difficult; you must set emotions to the side and always keep a level head.

Because Portfolio Recovery Associates buys up bad debt, there is a really good chance that the time limit has transpired, and that they’re not legally allowed to collect on the debt. This is why you’ll want to insist upon documents of the debt they say that you owe. Once you get the paperwork, it is best to send Portfolio Recovery Associates a letter within 30 days, stating that you do not owe the debt. It’s up to them to give you proof that you owe the money. Until then, Portfolio Recovery Associates isn’t really permitted to harass you. When this occurs, it is best to refuse to answer their calls.

Portfolio Recovery Associates Contact Information:

Portfolio Recovery Associates

120 Corporate Blvd.

Norfolk, VA 23502

888-772-7326