Stop Portfolio Recovery Associates, Llc, Harassment

Portfolio Recovery Associates, LLC, is a junk-debt buyer that collects on outstanding account balances

. A junk-debt buyer purchases delinquent or charged-off debts from a creditor for a fraction of the face value of the debt. Portfolio Recovery Associates is headquartered in Norfolk, Virginia, and has offices in Virginia, Tennessee, Alabama, Kansas, Texas, California, Illinois, Pennsylvania, and Nevada. Portfolio Recovery Associates has been in business since 1996. The company employees over 2,800 people in 10 US cities and the UK. In 2002, Portfolio Recovery Associates went public. Although Portfolio Recovery Associates is a collection agency, it is not a 3rd-party debt collector, because Portfolio Recovery Associates owns the debt it collects on. In other words, Portfolio Recovery Associates is not collecting on behalf of a bank or credit card company. Portfolio Recovery Associates actually bought the debt, likely for pennies on the dollar, and is now collecting on it. Since 1996, Portfolio Recovery Associates has purchased more than $41 billion in debt!

According to its Web site, Portfolio Recovery Associates strives to "give debt collection a good name." However, according to its track record, Portfolio Recovery Associates" collection activities shed a much different light when analyzed under the Fair Debt Collection Practices Act. The FDCPA has been around for almost 35 years. The FDCPA is a federal law that applies to every state. In other words, everyone is protected by the FDCPA. The FDCPA is essentially a laundry list of what debt collects can and cannot do while collecting a debt, as well as things debt collectors must do while collecting a debt.

According to the Public Access to Court Electronic Records (PACER), Portfolio Recovery Associates has been sued about 1,300 times in the last 3 years. That"s more than one lawsuit a day, every day, for the last three years. In fact, in 2011, Portfolio Recovery Associates was sued 700 times for harassing debt collectors. That"s two lawsuits a day, every day, for an entire year! Additionally, the Better Business Bureau processed almost 1,000 billing/collection issues regarding Portfolio Recovery Associates in the last three years. That"s about one complaint every single day for the last three years regarding Portfolio Recovery Associates" billing and collection practices.

If Portfolio Recovery Associates, has harassed you over a debt, whether they called you excessively, threatened you, called you at work despite knowing you cannot receive these type of calls at work, disclosed your debt to a third party, tried to collect a debt from you that you did not owe, or left you a voicemail message without the proper disclosures, contact the best lawyer who can protect you and even provides you a free case evaluation.

by: Michael Agruss

POST COMMENT

Britons Have Greater Than Usual Interest On First Quarter Growth Data How To Restrict Data Input Using Data Validation Pictures Recovery From Kodak Digital Camera Convert N Number Of Lotus Notes Database Successfully Only With Third Party Tool Comodo Ssl Certificate: The Best Way To Protect Data Clinical Trials - The Role Of Data Management How To Do Rm File Recovery On Mac How To Achieve Asf Recovery A Brief Introduction To Ibm Optim Data Management Why Do We Need Data Recovery For Mac Whiplash Recovery Ea Hosting: Secure Your Data With Virtual Hosting Virtual Servers: The Reliable Data Storage Solution