PRA Group Extends Sponsorship of MALG Friday Forum

Forum facilitates ‘working together to improve the lives of people in debt’ in the wake of the pandemic

UNITED KINGDOM – PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, has announced that it will once again partner with not-for-profit organization Money Advice Liaison Group (MALG) to present ‘Members Friday Forum’ throughout 2022.

The MALG Members Friday Forum was launched in March 2020 to enable money advisers, creditors, regulators, policy-makers and others from the financial services and advice sectors in the UK to advance MALG’s aim of ‘working together to improve the lives of people in debt’ throughout the pandemic.

PRA Group’s sponsorship enabled the forum to continue throughout 2021 as a fortnightly event, attended by representatives from 126 different organizations during the year. It has become an invaluable resource for those supporting the most vulnerable in society during this turbulent time.

“When the Coronavirus pandemic hit, we knew that not only would there be increased demand for debt advice, but that the need for our members to work together to share best practice, information and ideas would be even greater. Since our membership proposition was largely based on face-to-face events, we had to quickly adapt to provide a virtual means of continuing the vital conversations and collaborative opportunities that our members rely on us to facilitate,” said Bob Winnington, Chief Executive of MALG. 

He continued: “We have been blown away by the feedback on and success of the MALG Members Friday Forum and were keen to keep the momentum going as our members move from ‘crisis mode’ to navigating the ‘new normal’ post COVID-19, and we are very grateful to our long-standing member PRA Group for supporting us in hosting this forum.”

The extension of the sponsorship will enable MALG to continue running the virtual drop-in session every other week in 2022, providing a unique opportunity to regularly discuss and debate key issues for joint action during what is predicted to be another incredibly challenging year.

“As a long-time supporter of MALG, PRA Group is delighted to continue our partnership in sponsoring the Friday Forum. We are committed to doing things the right way, which means treating customers fairly and working with the wider credit and money advice sector to uphold the highest standards of respect and dignity for all consumers as we continue working together to improve the lives of those in debt,” said Tim Kirk, UK Country Operations Director of PRA Group.

Following a Festive break, the MALG Members Friday Forum will return on 14 January 2022. It will continue to be an hour-long drop-in session with no political, regulatory or commercial agenda which will not be minuted or recorded.

As a not-for-profit organization, MALG welcomes financial contributions and offers of pro-bono support and resources for its added value work and services through its ‘Friends of MALG’ initiative. Find out more about MALG, including details of the MALG Members Friday Forum and Friends of MALG at www.malg.org.uk.

Originally published on MALG’s Money Advice News.