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Portfolio Recovery Associates was established in 1996. In 2002, the company offered IPO. The company is involved in the purchase, management and collection of defaulted consumer receivables. Defaulted consumer receivables are those debts which are not paid back by the borrowers. The company is determined to change the name and meaning of the debt collection. Portfolio Recovery Associates believe in maintaining a good relation with the customers because according to them, it is the only way to success for a business. At the same time, the company is also concerned about the shareholders and wants to provide them the highest returns. The company is operating in five states of United States of America. These states are Alabama, Kansas, Tennessee, Nevada and Virginia. The company is providing its services through 1500 employees.
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Portfolio Recovery Associates are working with an aim to change the whole concept of traditional recovery activities. The offers that are given to the money lending organizations are very irresistible. By accepting these offers, the money lending companies can be benefited several ways like reducing the risk of violation of FDCPA and FCRA regulations. On the other hand, the companies can also get income from those accounts that have been considered as lost cases and the recovery process have been stopped. At the same time, the money lending institutions can also get almost immediate cash flow which the traditional debt recovery activities cannot provide.
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Portfolio Recovery Associates is one of the trend-setters in the field of charged-off consumer accounts in United States of America. Since establishment, it has purchased some 11 million debt accounts. The balances in these accounts are nearly $24 billion. On the other hand, 800 portfolios are closed till date. The company uses the ATLAS recovery system for the purpose of recovering debts. This software helps the company a lot in the process of recovering money by efficient management of debtor communication, balance tracking and contacts.
Contact Details of Portfolio Recovery Associates:
Norfolk
Riverside Commerce Center
120 Corporate Blvd
Norfolk VA 23502.