October 5, 2020
The COVID-19 pandemic continues to impact many of us in new and different ways. Families all over the country are deciding on virtual or in-person school, businesses are enacting additional health and cleanliness measures to keep patrons safe, and we all continue to wear our masks and practice social distancing. These are novel and unexpected changes – however, one thing that remains the same for our company is how we treat our customers.
PRA Group was founded in 1996 with the primary goal of treating all customers with respect and dignity. Over the last several months, as our nation has coped with the COVID-19 pandemic, we’ve ensured this value is central to how we serve people.
Throughout the pandemic, in addition to adapting to and abiding by many state and local directives toward our industry, we have also voluntarily enacted a number of initiatives to assist consumers through these times.
“Our employees work hard each and every day to help consumers understand and improve their financial situations,” said Kevin Stevenson, president and chief executive officer of PRA Group. “Our flexible and affordable payment options are designed to help people on the road to financial recovery. For example, in the United States, we do not charge interest or fees on unsecured accounts and adhere to a hardship program designed to protect the elderly, sick, and those experiencing temporary or permanent financial difficulties.”
In the United States, our hardship program allows us to respond quickly to ever-changing circumstances, such as the COVID-19 pandemic. Once we are notified of a hardship event impacting a customer, the customer is eligible for suspension of collection efforts for ninety (90) days with continuation of such hardship status, up to and including the waiver of applicable debts, as circumstances dictate.
There are many misconceptions about our business and it can be difficult to separate truth from fiction but our goal is to work with all consumers on real solutions to improve their financial futures.
About PRA Group
As a global leader in acquiring and collecting nonperforming loans, PRA Group returns capital to banks and other creditors to help expand financial services for consumers in the Americas and Europe. With thousands of employees worldwide, PRA Group companies collaborate with customers to help them resolve their debt. For more information, please visit www.pragroup.com.
Vice President, Communications and Public Policy