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About us

Who is PRA Group?

PRA Group, through its subsidiaries, is a global leader in acquiring and collecting nonperforming loans, and providing a broad range of other revenue and recovery services to business clients. PRA Group is a publicly-traded (Nasdaq: PRAA) company employing more than 5,000 people across the Americas and Europe.

I received a call or letter from a PRA Group subsidiary. What do I do?

If you received a phone call or letter from us, please reach out to us. The sooner you do, the sooner we can help. The more we know about your situation, the more we can help you. Have you lost your job? Have you had unexpected medical bills? Once we understand the issues you may have experienced, we can help you work out comfortable terms for repayment.

Payments

How do I make a payment?

We offer a variety of options on our local subsidiary sites to make payment as easy and convenient as possible. To make a payment, resolve a concern, have questions answered, or manage other information related to your account, please visit one of our local country sites.

Why is your subsidiary attempting to collect my debt when they’re not the original lender?

When banks, credit card companies, and other creditors are unable to collect on an unpaid loan or purchase, they may hire a collection agency to collect on their behalf, or they may sell those debts to companies like PRA’s subsidiaries. The debt is still yours, and it is still due. The right to collect on your account has been transferred to one of PRA’s subsidiaries. Our goal is to work collaboratively to help you resolve your debt in a way that is manageable for you.

Why do I still owe the money if I didn’t borrow from you in the first place?

The bank or credit card company that you borrowed from decided they no longer wanted to try to collect the debt, and they made a business decision to sell your debt to our subsidiary. We are committed to working together to help you resolve your outstanding obligation and to design a payment plan that fits your budget.

Our industry

How is debt collection an essential part of the economy?

Not all debt is bad; in fact, our economy depends on it as people go into debt to purchase homes, cars, and other items—which leads to economic expansion. It’s when debt goes unpaid that the economy suffers; bad debt costs business and lenders directly from lost revenue, and it affects all consumers when prices rise to cover those costs. Unpaid debt also leads to tighter credit restrictions and higher interest rates, making it harder to purchase a home, start a business, and other activities that stimulate growth. The debt buying and collection industry, led by companies like PRA, helps mitigate these problems. PRA, through its subsidiaries, has recycled billions of dollars of capital back to the banks, who in turn are then able to lend more and at cheaper rates to eligible borrowers. We have always been there for millions of individuals, offering them a fair, affordable solution to repay some or all of their debt.

What is the history of debt collection?

Debt collection is as old as people using money to buy and sell goods. But today’s debt collection industry is relatively new. The savings and loan crisis in the 1980s brought a staggering number of foreclosures, and with it a new modern business model of debt sales and collection. It has evolved into a highly regulated system. There is strict government regulated oversight of the industry, but there are still unscrupulous players that harm the industry’s reputation in spite of the many companies that are transparent and play by the rules. PRA Group’s subsidiaries pride themselves on their commitment to professionalism, ethics, and transparency.