PRA in the News

 

Media Relations Contacts

Financial Communications / Europe and Canada Debt Buying & Collections

Rick Goulart
Vice President
Corporate Communications

757.961.3525

U.S. Debt Buying & Collections

Ray Atkinson
Assistant Vice President
Corporate Communications

757.351.3264

Government Revenue / Vehicle Location / Class Action Claims / Social Responsibility

Brooke Grow
Senior Specialist
Corporate Communications

757.351.3261

PRA Corporate Factsheet

Pleasanton recoups $114, 421 in Hotel Occupancy Tax, March 26, 2014

The City of Pleasanton voted to renew a two-year contract with MuniServices who recently helped the city recover Hotel Occupancy Taxes not paid by a local hotel. The city entered a contract with MuniServices on June 1, 2013 to provide administration and audit of the Hotel Occupancy Tax (HOT).

Source: Pleasanton Express, Pleasanton, TX

PRA Snaps Up IVA Business, Feb. 4, 2014

US debt buyer Portfolio Recovery Associates (PRA) has snapped up the Individual Voluntary Arrangement (IVA) business of Pamplona Capital Management.

Source: Credit Today

Chief Executive Magazine Places PRA Among 100 Elite Mid-Market Companies, Jan. 16, 2014

Superior growth rates, a track record of innovation, an exceptional corporate culture, charismatic leadership, compelling business models—these are some of the qualities Chief Executive Magazine sought in choosing their Mid-Market Elite. Applying that criteria, their researchers and judges selected 100 companies that stand out amid the middle-market universe—identified as 197,000 private or public firms with between $10 million and $1 billion in annual revenues.

Source: ChiefExecutive.com

Virginia License-Plate Recognition Company to Hire 80 in Folsom, Nov. 1, 2013

A fast-growing Virginia company that recovers cars and other assets from delinquent consumers says it is opening a Folsom office that will employ 80 workers by next year.

Source: Sacramento Business Journal, Sacremento, CA.

Portfolio Recovery Associates to Hire More than 150 People for New Dallas-Area Call Center, Nov. 1, 2013

PRA has announced the opening of a call center that will employ 200 people in the Dallas-Fort Worth area.

Source: The Dallas Morning News, Dallas, TX.

Name Suit: Judge Sides with Portfolio Over N.Y. Firm, Oct. 27, 2013

Why would anyone confuse a Norfolk company that is one of the nation’s largest debt buyers with a small debt collector that employs about 20 workers in upstate New York?

Source: The Virginian-Pilot, Norfolk, VA.

Firms are the Pride of Ayrshire, Oct. 25, 2013

The Ayrshire Chamber of Commerce recently awarded Portfolio Recovery Associates-UK its Excellence in Customer Service Award during the Ayrshire Business Awards held at Kilmarnock’s Park Hotel.

Source: The Ayrshire Post, Kilmarnock, Scotland

Master Class: America's Top CEOs On The Secrets Of Motivating Employees, Oct. 15, 2013

What Steve Fredrickson, president and CEO of Portfolio Recovery Associates likes to give his employees most, is a daunting task

Source: Forbes.com

New Jobs for Town, Oct. 10, 2013

Dozens of jobseekers turned up for a recruitment fair organised by Portfolio Recovery Associates in Kilmarnock's Grand Hall at the weekend. One of the UK's leading financial and business services companies, based in Portland Gates, the company will be taking on a number of both full-time and part-time staff between now and the end of December.

Source: The Kilmarnock Standard, Kilmarnock, Scotland

The Portfolio Recovery Story, Sept. 22, 2013

Banks used to try to collect overdue debt themselves or through an agency that they paid a commission or fee. During the savings-and-loan crisis of the late 1980s, a federal bailout program successfully auctioned off failed loans, encouraging other banks to sell delinquent debt. A new niche business emerged: companies that specialized in buying overdue accounts. By giving banks an outlet for unloading unwanted debt and reducing their risk, these companies help keep the cost of borrowing low. Even regulators agree that debt buyers are a crucial cog in the national wheel of consumer credit.

Source: The Virginian-Pilot, Norfolk, VA.

Portfolio Recovery Knows How To Profit On Credit Debt, Aug. 29, 2013

Never mind the tricky logistics of debt collection. These are trying times for buyers and collectors of consumer debt. For one thing, delinquency rates on credit cards are near historic lows. And the price that debt buyers must pay to get their hands on the debt has soared as supply has shrunk. Many smaller players who had flooded the market earlier have left the business over the last year.

Source: Investor's Business Daily

Covington Turns Over Franchise Fee Rock and Finds Cash, Aug. 22, 2013

Thousands of dollars in uncollected revenue goes unchecked every year by city government. That's why city officials in Covington, WA. contracted with MuniServices to do what it does best - find money owed to local municipalities.

Source: Covington Reporter, Covington, WA.

Old Faithful Portfolio Recovery Associates Does It Again, July 31, 2013

The kind of performance Portfolio Recovery Associates (PRAA) delivers just doesn't get boring. Although debt recovery is not a well-liked business by any stretch, PRA has done a remarkable job of refining its model so as to identify only those who can pay their debts, and the extent to which those customers are likely to respond to particular collection methodologies.

Source: Seeking Alpha

This 'Secret' Debt Collector Is Up 37% On Lower Unemployment, July 24, 2013

There's no question the U.S. unemployment rate remains high by historical standards. But it's also undeniable that it has continued to improve, holding steady at 7.6% after the July jobs report, which showed the economy adding 195,000 jobs last month.

Source: StreetAuthority Network

Portfolio Recovery Associates Larger Than S&P 500 Component United States Steel, June 12, 2013

In the latest look at stocks ordered by largest market capitalization, Russell 3000 component Portfolio Recovery Associates Inc (NASD: PRAA) was identified as having a larger market cap than the smaller end of the S&P 500, for example United States Steel Corp. (NYSE: X), according to The Online Investor.

Source: Forbes

Portfolio Recovery Seeing Better Deals on Debt, May 30, 2013

Debt-collection companies have faced increasing regulation since the federal Consumer Financial Protection Bureau was established in 2010, but that cloud has a silver lining for Portfolio Recovery Associates Inc.

Source: The Virginia-Pilot, Norfolk, VA.

Hampton Roads Businesses Donate for Disaster Recovery, May 28, 2013

Portfolio Recovery Associates, Inc. in Norfolk and the Williamsburg Pottery donated money to the American Red Cross to aid disaster relief and recovery efforts.

Source: TidewaterBiz, Newport News, VA.

American Red Cross Receives $20,000 Donation from PRA, May 14, 2013

The American Red Cross Eastern Virginia Region has received a $20,000 donation from Norfolk, Va.-based Portfolio Recovery Associates, Inc. (PRA) to support nationwide disaster relief operations.

Source: American Red Cross

Getting Back the Government's Money in Mobile, May 14, 2013

Thousands of dollars in uncollected business license revenue goes unchecked every year by city government. That's why city officials are requesting the City Council approve its second contract with Revenue Discovery Systems (RDS), the Birmingham-based subsidiary of Norfolk, Va.-based PRA Government Services LLC.

Source: Alabama Media Group

Steve Fredrickson Among Top 75 Who Influence Hampton Roads, May 10, 2013

As chairman and CEO of Portfolio Recovery Associates, he has been focused on growth last year - and it has showed.

Source: Inside Business - The Hampton Roads Business Journal

Portfolio Recovery Associates Call Center Creates 200 Jobs, May 10, 2013

PRA will be creating 200 jobs with its latest expansion in Birmingham.

Source: Birmingham Business Journal

Portfolio Recovery Associates to Expand in Birmingham, Add 200 Jobs, May 10, 2013

PRA plans to expand its Birmingham operations with the addition of 200 call center jobs, the company announced today.

Source: Alabama Media Group

Company's Casual Attire Means Big Bucks for MDA Fundraiser, May 9, 2013

From Lacey Mills' perspective, there's nothing casual about the way employees at Portfolio Recovery Associates, Hutchinson, dress.

Source: hutchnews.com, Hutchinson, KS.

PTSD Patients get Gentle Support from Four-Legged Therapists, May 7, 2013

Dozens of servicemen and women with Post Traumatic Stress Syndrome are getting gentle support from some special four-legged therapists.

Source: WVEC

PRA Partners with Chesapeake Bay Foundation to Save Pleasure House Point, May 7, 2013

The Brock Environmental Center will be a resource for citizens to learn about environmental stewardship, a destination for CBF's environmental education program, a global inspiration for cutting-edge green building, and a demonstration site for restoration that will improve water quality.

Source: Chesapeake Bay Foundation

PRA Salutes Local Military with $20,000 Donation to EQUI-VETS, April 24, 2013

PRA has awarded a gift of $20,000 to support EQUI-VETS Service Program – the sister program of EQUI-KIDS Therapeutic Riding Program. Serving the second-largest concentration of active and retired military in the country, EQUI-VETS offers equine assisted activities for active, reserve and retired military personnel in the Hampton Roads area who have been injured in the line of duty.

Source: Equi-Kids

Bond Refinance Saves City $3.7 Million, April 16, 2013

Alabaster Council entered into a contract with Revenue Discovery Systems for business license discovery services. Through the contract, RDS will use a software system to determine if any Alabaster businesses do not have current business licenses on file. RDS will keep 50 percent of new business license revenue generated the first time a new business license is generated through the software discovery system, and the other half will go to the city.

Source: The Alabaster Reporter, Columbiana, AL.

Sales Tax Revenue Decline Forces Selma Hiring Freeze, April 9, 2013

Montgomery-based Revenue Discovery Systems has been asked by the city to conduct, “random auditing in restaurants and hotels to see if some things need to be tweaked,” Evans said.

Source: The Selma Times Journal, Selma, AL.

Judy Scott Honored with Highest Award by Local Girl Scouts, Apr. 8, 2013

Judith S. Scott, Executive Vice President, General Counsel and Secretary of Portfolio Recovery Associates Inc, was recognized with the Dorothy Barber Lifetime Achievement Award by Girl Scouts of the Colonial Coast on Saturday, March 9 at their Annual Awards Luncheon.

Source: Girl Scouts of the Colonial Coast, Mar. 11, 2013

Debt Collector Offers Tips Online, Mar. 3, 2013

One thing really irks Neal Stern: debt-settlement companies that charge whopping fees to financially strapped consumers to intervene in a process that those consumers could negotiate more effectively themselves.

Source: The Virginian-Pilot, Norfolk, VA.

PRA's Jackson Site Continues to Hire, February 14, 2013

The Jackson Chamber of Commerce announced Thursday that Portfolio Recovery Associates has hired approximately 100 people since October, including account representatives, operations managers and IT personnel, and will hire an additional 30 people by March.

Source: The Jackson Sun, Jackson, TN.

"U.K. Consumer Debt Collection Agency of the Year," Mackenzie Hall, Strengthens Management Team, November 28, 2012

While around two-thirds of its business is in contingency collections, the firm has an active arm which targets sales of non-performing debt portfolios.

Source: Credit Today’s Debt Sale & Purchase Report, 2013