Founded in 1996 by Steve Fredrickson and Kevin Stevenson, the vision for the company was to create a professional business in the debt recovery market. Specifically, the goal was to build a company that treated customers fairly and with respect, met high levels of compliance and reliability, and created rewarding careers for its employees.
The company went public on November 8, 2002 as Portfolio Recovery Associates, Inc. and changed its name to PRA Group, Inc. in October 2014. Over the past 20 years, PRA, through its subsidiaries, has grown to become one of the largest debt buyers in the world, with more than 5,000 employees in 12 countries throughout the Americas and Europe.
All employees in the Americas and Europe share a common set of values and commitments that define how we treat each other, how we relate to our customers, and the responsibilities we have to shareholders, regulators, clients, and others. Simply put, they’re the principles that reflect our company’s culture, why PRA was started, and who PRA is today. Our goal is for every PRA employee to personalize and live these shared values—because they are guidelines for everything we do.