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Who Is Portfolio Recovery Associates (PRA) and What Can They Do?
If you’ve been contacted by a Virginia debt collector called Portfolio Recovery Associates, you’re probably hearing from law firms like Weber & Olcese, Shermeta Law Group or PRA’s own lawyers like Christene M. Richter or David Canine from Michigan but out of Virginia where PRA’s debt collection law firm is located. They file more lawsuits than any debt buyer in several states. They purchase defaulted debts—often from banks, credit card issuers, and other financial institutions—and then work to collect the outstanding balances from local law firms.
Below is a quick overview of PRA’s role in debt collection and steps you can take to protect your rights.
- Who Is Portfolio Recovery Associates, LLC (Out of Virginia)?
- PRA is a debt buyer that acquires unpaid debts at discounted rates.
- After purchasing these debts, they pursue the balance from consumers through lawsuits. Here in Michigan look for Weber & Olcese or Shemeta Law Group.
- How PRA Operates
- They first contact debtors by mail or phone, demanding payment on the purchased account.
- PRA then files lawsuits if initial attempts to collect are unsuccessful.
- Safeguarding Your Rights
- Validate the Debt: Under the Fair Debt Collection Practices Act (FDCPA), you can request written verification of the debt to ensure its accuracy before and after they sue you.
- Understand Statutes of Limitation: Each state imposes time limits on how long a debt can be legally collected. PRA’s debt ownership should always be examined.
- Seek Legal Advice: If you’re unsure about the debt’s validity or MCM’s collection methods, consult an attorney or a reputable credit counseling organization.www.killdebt.com is an excellent source of videos, how to techniques and word templates to fight back and settle the debt without the need for an attorney when applying your own facts and state law.
By knowing who PRA is in Michigan and Florida and how they operate, you can better understand your options and maintain control over your finances. If you self-represent, go to
www.killdebt.com if you have questions about PRA’s claims in other states and remember you have legal recourse and consumer rights designed to protect you.
