PRAA
- PRA Group, Inc.
()
Overview
Company Summary
PRA Group, Inc. (PRAA) is a global leader in acquiring and collecting non-performing loans (NPLs) and other receivables. The company's primary focus is on purchasing distressed debt portfolios from financial institutions, such as banks, credit card issuers, and consumer finance companies.
Once the debt portfolios are acquired, PRA Group uses its expertise and specialized resources to recover the outstanding balances from the debtors. This involves a combination of collection efforts, negotiations, and legal actions, if necessary. The company employs a wide range of contact channels, including phone calls, letters, and digital communication, to engage with debtors and facilitate repayments.
PRA Group operates in multiple countries worldwide, including the United States, Europe, and Latin America, offering its services to both individual consumers and commercial debtors. The company serves as a vital link between financial institutions and individuals who are unable to meet their financial obligations, aiming to find solutions that benefit all parties involved.
In addition to debt collection, PRA Group also provides value-added services to its clients, such as analytics, consulting, and risk management. These services help financial institutions make informed decisions about the management and sale of their distressed debt portfolios, ultimately improving their financial performance.
Overall, PRA Group plays a crucial role in the financial ecosystem by assisting lenders in recovering defaulted debts and helping individuals or companies resolve their outstanding obligations.