By: Robert J. Nahoum
Portfolio Recovery Associates, LLC is an notorious “debt buyer”, buying up portfolios of old debt from banks, credit card companies, hospitals, doctors, cell phone companies and car companies for pennies on the dollar.
According to the New York State Unified Court System, Portfolio Recovery Associates filed a whopping 22,044 New York debt collection lawsuits in 2014 alone. Debt collection cases like these are most often brought in New York’s civil, city and small claims courts.
You may be asking – “having filed this many cases in New York alone, how can Portfolio Recovery Associates be sure I owe them money?” The simple answer is they can’t. To Portfolio Recovery Associates you are little more than an entry on a spreadsheet, you are data.
In a debt collection lawsuit, Portfolio Recovery Associates must prove that you are responsible for the debt. To meet this burden, Portfolio Recovery Associates must prove that: (1) it has the right to sue you; (2) that debt is yours; and (3) you owe the amount they sued you for.
Portfolio Recovery Associates, LLC is a public company traded on the NASDAQ: under ticker symbol PRAA.
Portfolio Recovery Associates was named one of Fortune’s 100 Fastest Growing Companies in 2013 and 2012. The company also was named to Forbes’ Top 25 Best Small Companies in America in 2012, and has been annually ranked as one of Forbes’ 100 Best Small Companies since 2007.
Portfolio Recovery Associates, LLC regularly make debt collection phone calls from (800) 772-1413, 800-331-0500, 866.925.7109, (800) 383-8013, and is located at:
120 Corporate Boulevard
Norfolk, VA 23502
Portfolio Recovery Associates is a notorious violator of federal debt collection laws known as the Fair Debt Collection Practices Act (FDCPA) and is sued regularly by consumers for these violations. The FDCPA is a federal law that regulates the collection of consumer debts. It precludes third party debt collectors from using false, misleading, deceptive and harassing debt collection tactics.
If you need help settling or defending a debt collection law suit, stopping harassing debt collectors or suing a debt collector, contact us today to see what we can do for you. With office located in the Bronx, Brooklyn and Rockland County, the Law Offices of Robert J. Nahoum defends consumers in debt collection cases throughout the Tristate area including New Jersey.
The Law Offices of Robert J. Nahoum, P.C