PRA Group Inc

PRA Group Inc. a financial and business services company engages in the purchase collection and management of portfolios of nonperforming loans in the Americas Europe and Australia. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators which include banks and other types of consumer retail and auto finance companies. The company also acquires nonperforming loans including Visa and MasterCard credit cards private label and other credit cards installment loans lines of credit deficiency balances of various types legal judgments and trade payables from banks credit unions consumer finance companies retailers utilities automobile finance companies and other credit originators. In addition it provides fee-based services on class action claims recoveries and by servicing consumer bankruptcy accounts. The company was formerly known as Portfolio Recovery Associates Inc. and changed its name to PRA Group Inc. in October 2014. PRA Group Inc. was incorporated in 1996 and is headquartered in Norfolk Virginia.