Portfolio Recovery Associates Problems?

Learn what to do if this debt collection agency contacts you

Portfolio Recovery Associates is a major national collection agency. If you are being contacted by them - or have found them listed on your credit reports - get a free copy of our ebook Debt Collection Answers so you understand your rights when dealing with debt collectors. You can download it here.

Background Information

Portfolio Recovery Associates

Variations on name: PRA III / Anchor Receivables Management

Website: http://www.portfoliorecovery.com/

Address: Riverside Commerce Center - 120 Corporate Boulevard, Norfolk, Virgina, 23502 USA

Number of Years in Business: Over 10

Employees: 2,350

Hours of Operation: Mon to Fri - 7:30 AM to 11 PM / Sun - 2 PM to 9 PM (EST)

Phone: (800) 772-1413

Email: customer.assistance@portfoliorecovery.com

Better Business Bureau Report Summary

We researched the Better Business Bureau reports on this company as of June 10, 2015 and found the following data:

Number of complaints processed by the BBB

- in the last 36 months: 1291 complaints

- in the last 12 months: 386 complaints

The agency maintains an "A+" rating due to its handling of the complaints filed.

State and Federal Regulatory Actions (FTC, state attorneys general)

New York - On May 1, 2014 Portfolio Recovery Associates, LLC in New York, New York signed an Assurance of Discontinuance with the Office of the Attorney General (OAG) for the State of New York for alleged violations of New York Executive Law, New York General Business Law (GBL), and the federal Fair Debt Collection Practices Act (FDCPA). Portfolio Recovery Associates, LLC without admitting or denying any allegations listed in the Assurance of Discontinuance agreement entered into this Assurance in order to settle and resolve the Office of the Attorney General of the State of New York's investigation and whereas the parties each believe that this Assurance is a prudent and appropriate way to resolve the dispute. This Assurance of Discontinuance only involves consumers residing in New York City. The alleged violations include among other things; - See more at the BBB website 

St. Louis, Mo. - August 18, 2009 Attorney General Chris Koster today filed suit against two debt collection companies that are operating scams to collect debts from citizens who do not owe the money. Koster filed law suits in St. Louis against Portfolio Recovery Associates, a public company based in Virginia, and Professional Debt Management located in Kansas City.

Koster said Portfolio buys old and bankruptcy-discharged debt, often from another bad debt buyer, and then tries to collect, sometimes through court action. He said the company often is attempting to collect on accounts that are already paid or have been discharged in bankruptcy; sometimes they try to collect from the wrong consumer or for the wrong amounts. He said the company has threatened to garnish consumers' social security checks, which they have no authority to do, and has refused to provide consumers with proof that the debt is valid.

Jury Awards Woman $83 Million In Trial

A Missouri jury ordered a debt buyer to pay nearly $83 million to a Kansas City woman it pursued for a $1,000 credit card bill she didn’t owe, NPR affiliate KCUR reports. The jury found Portfolio Recovery Associates LLC guilty of violating the Fair Debt Collection Practices Act, for which it will pay $250,000 in damages, as well as maliciously prosecuting the woman, Maria Guadalupe Mejia, over the debt that did not belong to her. For the malicious prosecution, the jury awarded Mejia $82,990,000 in punitive damages. Read the full story on the Credit.com blog.

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