Portfolio Recovery Associates, LLC: if a letter from them arrived
PRA Group, Inc., the parent company, describes its primary business in its 2025 annual report as the purchase, collection and management of nonperforming loan portfolios. Below is what official records say about Portfolio Recovery Associates, LLC and what consumers told the CFPB, followed by what you can do about a letter from them.
Names you may see
PRA Group, Inc.'s subsidiary list filed with the SEC lists Portfolio Recovery Associates, LLC (Delaware) as a subsidiary, along with PRA Receivables Management, LLC and Claims Compensation Bureau, LLC.
“SUBSIDIARIES OF THE REGISTRANT (a) Subsidiaries of the Registrant and Jurisdiction of Incorporation or Organization: Portfolio Recovery Associates, LLC - Delaware PRA Receivables Management, LLC - Virginia PRA Holding IV, LLC - Virginia”
PRA Group, Inc., Form 10-K for fiscal year 2025, Exhibit 21.1 (filed Mar. 2, 2026)
What the company does
“We are a specialty finance company headquartered in Norfolk, Virginia and incorporated in Delaware. Our primary business is the purchase, collection and management of nonperforming loan portfolios, and we are a global leader in the industry.”
PRA Group, Inc., Form 10-K for fiscal year 2025, Item 1 (filed Mar. 2, 2026)
Where it is based
PRA Group, Inc. states in its annual report that it is headquartered in Norfolk, Virginia.
Complaints to the CFPB
From 2023-10-01 to 2026-09-30, consumers sent the CFPB 32,339 debt-collection complaints naming Portfolio Recovery Associates, LLC. The company responded on time to 98% of them. Most complaints came from TX (4,493), FL (3,891), CA (3,259), GA (2,567), NY (1,793), IL (1,352). Where consumers named the kind of debt: credit card debt (9,284), other debt (1,238), telecommunications debt (123), medical debt (96).
| Year | Complaints |
|---|---|
| 2023 (10-01 to 12-31) | 587 |
| 2024 | 5,668 |
| 2025 | 12,353 |
| 2026 (01-01 to 09-30) | 13,731 |
What the complaints were about
| Issue (as the consumer chose it) | Complaints | Share |
|---|---|---|
| Attempts to collect debt not owed | 13,645 | 42% |
| Took or threatened to take negative or legal action | 6,361 | 20% |
| Written notification about debt | 5,502 | 17% |
| False statements or representation | 4,359 | 13% |
| Communication tactics | 1,952 | 6% |
| Electronic communications | 281 | 1% |
| Threatened to contact someone or share information improperly | 239 | 1% |
How the company responded
| Response | Complaints | Share |
|---|---|---|
| Closed with non-monetary relief | 16,103 | 50% |
| Closed with explanation | 15,412 | 48% |
| In progress | 824 | 3% |
The CFPB publishes complaints after the company responds or after 15 days. It does not verify every fact in a complaint, and complaint counts reflect company size and how many consumers know to complain as well as company conduct.
Public enforcement actions
CFPB Consent Order, In the Matter of Portfolio Recovery Associates, LLC, File No. 2015-CFPB-0023, Sept. 9, 2015
On September 9, 2015, the CFPB issued a consent order against Portfolio Recovery Associates; the CFPB states it found the company bought debts that were potentially inaccurate, lacking documentation, or unenforceable, and ordered $19 million in consumer relief and an $8 million civil monetary penalty.
“The Bureau found that Portfolio Recovery Associates bought debts that were potentially inaccurate, lacking documentation, or unenforceable. Without substantiating the debt, Portfolio Recovery Associates collected payments by pressuring consumers with false statements and churning out lawsuits using robo-signed court documents.”
CFPB Consent Order, In the Matter of Portfolio Recovery Associates, LLC, File No. 2015-CFPB-0023, Sept. 9, 2015
CFPB Consent Order 2015-CFPB-0023, Sept. 9, 2015
According to the CFPB, the 2015 order required the company to stop collections on $3 million worth of judgments, halt collection of future debts that could not be verified, and pay $19 million in consumer relief and an $8 million civil monetary penalty.
“The Bureau ordered Portfolio Recovery Associates to stop collections on $3 million worth of judgments, halt collection of future debts that could not be verified, and pay $19 million in consumer relief and an $8 million civil monetary penalty.”
CFPB Consent Order 2015-CFPB-0023, Sept. 9, 2015
CFPB v. Portfolio Recovery Associates, LLC, No. 2:23-cv-00110 (E.D. Va.), Stipulated Final Judgment and Order, Apr. 13, 2023
On March 23, 2023, the CFPB filed a complaint and proposed stipulated final judgment alleging that Portfolio Recovery Associates violated the 2015 order, the CFPA, the FDCPA and the FCRA; the court entered the order on April 13, 2023, requiring at least $12.18 million in redress and a $12 million civil money penalty.
“The order requires Portfolio Recovery Associates to pay at least $12.18 million in redress to harmed consumers and a $12 million civil money penalty.”
CFPB v. Portfolio Recovery Associates, LLC, No. 2:23-cv-00110 (E.D. Va.), Stipulated Final Judgment and Order, Apr. 13, 2023
CFPB v. Portfolio Recovery Associates, LLC, No. 2:23-cv-00110 (E.D. Va.)
The CFPB's summary states that the Bureau alleged the company violated the 2015 order, the CFPA, the FDCPA, and the FCRA and Regulation V.
“The Bureau alleged that Portfolio Recovery Associates violated the 2015 Order, the CFPA, the FDCPA, and the Fair Credit Reporting Act (FCRA) and its implementing Regulation V.”
CFPB v. Portfolio Recovery Associates, LLC, No. 2:23-cv-00110 (E.D. Va.)
If you got a letter from Portfolio Recovery Associates, LLC
- Check that the debt is yours and the amount is right before you pay anything. A collector has to send a validation notice listing the creditor and an itemization of the amount.
- Within 30 days of receiving that notice you can dispute in writing; the collector then has to stop collecting the disputed amount until it verifies the debt. The validation letter generator writes that letter.
- If the debt is old, check your state's statute of limitations before you pay or promise anything — in many states a payment can restart the clock, in others it cannot.
- If something is wrong, you can submit your own complaint at consumerfinance.gov/complaint.
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Every legal statement above is taken from these official texts, read on 2026-10-01.
- CFPB Consumer Complaint Database (CC0)
- PRA Group, Inc., Form 10-K for fiscal year 2025, Exhibit 21.1 (filed Mar. 2, 2026)
- PRA Group, Inc., Form 10-K for fiscal year 2025, Item 1 (filed Mar. 2, 2026)
- CFPB Consent Order, In the Matter of Portfolio Recovery Associates, LLC, File No. 2015-CFPB-0023, Sept. 9, 2015
- CFPB v. Portfolio Recovery Associates, LLC, No. 2:23-cv-00110 (E.D. Va.), Stipulated Final Judgment and Order, Apr. 13, 2023
This page is general information, not legal advice, and using it does not create an attorney-client relationship. Main AI is not a law firm. Laws change and have exceptions; the linked official text controls. For advice about your situation, contact a licensed attorney or a legal-aid office in your state.