Frequently Asked Questions

If you have received a Portfolio Recovery Associates (PRA) collection letter or a PRA collection call, you may be wondering if and how you ought to respond. Why should you respond? What can you expect if you do? How will it help you?

To help you better understand the PRA repayment process, here are answers to important Frequently Asked Questions. If you have a question that you don’t see here, please refer to our Contact Us page. We’ll be happy to provide you with an answer.

• What is Portfolio Recovery Associates?
• Why does Portfolio Recovery Associates need to advise me with declarations about my rights and disclosures when you’re calling me? It seems ominous.
• What does it really mean when you say you will “work with me?”
• If I didn’t borrow the money from you in the first place, why should I pay you?
• What if I decide to simply ignore you?
• I’ve read that I can have a “Cease and Desist” letter sent to you that will legally prevent you from calling me.
• What should I do if a debt collector sues me?
• Can a debt collector garnish my bank account or my wages?
• Is Portfolio Recovery Associates professional in conducting business with customers?
• You say you have worked with (and bought debt from) the biggest and most respected lenders in the United States. Can you identify them?
• How can I know whether or not to believe what I read about Portfolio Recovery Associates on the Internet?
• What standards apply to how Portfolio Recovery Associates goes about collecting my debt? What standards apply to how you may speak to me and when you can call me?
• Do you monitor your own people to ensure that they are following your higher standards and fair business practices?
• How do you train the people who are calling me?
• Why do you continue to call people who tell you they’re broke?
• What does your slogan – “We’re giving debt collection a good name” – really mean?
• What do you mean when you say that time is on your side?
• If I get a Portfolio Recovery Associates letter, what should I do?
• What interest do you have in issuing me a 1099-C?