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PRA Group, Inc. is a publicly-traded debt buyer and debt collection company based in Norfolk, Virginia. The company buys delinquent consumer debt from credit card issuers and other financial institutions at a discount and pursues collection of the full debt owed. Founded in 1996, PRA Group employs more than 3200 people in 18 countries. [2] [3]
The debt collection industry which includes debt buyers, "in-house collection departments, third-party collection agencies, and collection attorneys", recover and return "billions of dollars in delinquent debt" to "card issuers and other creditors" annually which "increase[s] the availability of consumer credit and reduce[s] its cost". [2]
ACA International is a trade group located in the United States representing debt collection agencies, creditors, debt buyers, collection attorneys, and debt collection industry service providers. ACA International is based in Minneapolis and Washington, D.C. with members located throughout the U.S. and more than 60 other countries. The ...
One of the nation’s largest debt collectors launched tens of thousands of lawsuits in Arizona since 2022, according to 12 News, even as it was issued millions of dollars in penalties for ...
Federal law prohibits debt collection agencies from threatening arrest because of a lack of payment. However, loopholes remain in Oklahoma laws.
The Consumer Financial Protection Bureau on Friday ordered Commonwealth Financial Systems, a debt collection agency specializing in medical debt, to shut down as a result of what CFPB determined ...
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