The Ultimate Guide to PRA Group

Did you receive letters addressed to you from PRA Group UK Limited saying that you owe them money? Are you unsure of the next steps you need to take?

PRA Group is one of the finance companies that buy debts and employs a team of debt collectors to recover payments for the debt. They start by sending letters and then slowly progress through various steps to collect payment.

Discover all you need to know and how you can settle whatever debts you may in this Ultimate Guide to PRA Group.

Table of Content

1 Who are PRA Group
- 1.1 How do I get in contact with PRA Group?
2 Are they a legitimate company?
3 Why is PRA Group Contacting Me?
4 What Are My Next Steps?
5 What Can PRA Group Do?
- 5.1 PRA Group Can:
- 5.2 PRA Group Cannot:
6 List of Debt Collection Agencies UK

Who are PRA Group

Portfolio Recovery Associates, located in Norfolk, Virginia, founded PRA Group in 1996. They return money to banks and other creditors as a worldwide leader in purchasing and collecting nonperforming loans through their local subsidiaries to assist in growing financial services for consumers in the Americas and Europe.

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Like all financing businesses and debt collectors, the PRA Group is a member of the Credit Services Association and is regulated by the Financial Conduct Authority with the registration number 718645. The company is registered under the name Vikki Wilkons in Kilmarnock, Ayrshire, and its principal place of business is identified as Bromley, Kent. The PRA Group is unrelated to the Prudential Regulatory Authority.

PRA Group UK Limited is a significant debt collecting firm. PRA Debt Collection will purchase debts from other firms for less than their market worth and then pursue the people who owe money to collect, making a profit.

PRA Group essentially buys “bad debts” in bulk from financial businesses and collects defaulted accounts on behalf of MBNA, Barclays, Barclaycard, and other companies. They purchase the debt for a few pennies on the pound and then pursue the debtor for the entire amount. When PRA Group Debt collection buys a debt, this meant that if they could persuade 20% of the individuals they were chasing to pay, they would have doubled their money.

It is a subsidiary of the USA PRA Group Inc (also known as Aktiv Kapital UK), founded in 1996 and currently employs thousands of people throughout the globe. They promise not to charge interest on whatever debt you owe and assist debtors in arranging reasonable repayment options.

Recently, PRA Group became an official sponsor for the Money Advice Liaison Group, also known as the MALG. The MALG is a non-profit UK membership organisation that was established in 1987. This organisation aims to motivate member organisations to work together and assist people with debt problems to lead a better life.

How do I get in contact with PRA Group?

Their Head Office: 150 Corporate Boulevard, Norfolk, VA 23502
Registered Office: 150 Corporate Boulevard, Norfolk, VA 23502
Telephone: 1-800-772-1413
Email: [email protected]
Website: www.pragroup.com
Facebook: www.facebook.com/PRAGroupInc
Twitter: twitter.com/PRAGroupInc
LinkedIn: linkedin.com/company/pragroup/

Are they a legitimate company?

Yes, the PRA Group is a legitimate company registered around the UK. They are one of the significant debt collecting firms in the UK, with offices in the United States and Europe.

They operate in the United Kingdom by acquiring debt, primarily from big financial institutions and high street lenders, for less than it is worth. And if a debtor only pays half the amount owed, they have earned a profit.

PRA Group UK is a successful corporation with annual revenue of about £100 million.

Why is PRA Group Contacting Me?

If you got a letter from PRA Group, you might believe you are pursuing a debt you do not believe you owe. They will have probably written to you stating that you now owe them money, but they may have never have given you money or supplied you with a service.

PRA Group is a debt buying and collection service that buys and collects debts from other businesses under the PRA Group Debt Collection service, which is why you may not recognise them. This means that if you owe money from another entity, the debt has not been transferred to this debt collection company.

What Are My Next Steps?

Accessing your credit file is one method to see if you truly owe the money – but this is not a sure-fire way to tell because your credit file may be inaccurate.

If you question the ownership of the debt, submit a letter requesting documentation of your debt to the debt collection agency, such as a credit agreement with the original lender. If the PRA Group establishes that the debt is yours and you refuse to pay or accept a repayment plan, they may sue you.

They will ask the judge to issue a County Court Judgement (CCJ) requiring you to pay the debt. This business choice may be influenced by the amount you owe and whether it is worth going to court. If, however, the debt you owe to them is unenforceable as specified under the Consumer Credit Act, PRA Group cannot ask any judge to issue County Court Judgement against you.

It may take some time, but the professionals at PRA Debt Collection may be able to locate your original credit agreement and utilise it to establish you are the debt’s owner. This would almost certainly give them a winning chance in court. Therefore you should not disregard this proof or any further requests for money.

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Do I Qualify?

If you cannot pay the money, you are free to consider your choices without interference from PRA employees. One of these possibilities is to set up a repayment plan with PRA directly and ask for free debt advice from them since they have been in the debt collection industry for so long. However, several more solutions might reduce the cost of repaying your loans.

You can explore different ways to write off debt with PRA Group. This includes settlement offers, a debt relief order, and Individual Voluntary Arrangements.

What Can PRA Group Do?

PRA Group Can:

Task PRA Group Debt Collectors to make a visit to your home but only remain outside the door unless you invite them in
Call your phone number or mobile numbers at home or at work within sensible hours unless you ask them to stop
Send you emails or physical letters that discuss the details of the debt and the repayment plans you can take
Coordinate with you to meet their requests for payment and schedule debt collection

PRA Group Cannot:

Be the cause of any form of disturbance that can affect you or your family
Threaten or intimated you or any other member of your family when making debt collection visits
Ask debt collectors to drop by to visit you are work
Forcefully enter your home and take any of your belongings
Divulge details of your debt to your colleagues, friends, or family
Pretend to be anyone with legal power, such as a Bailiff

List of Debt Collection Agencies UK

Here is a list of all the debt collectors in the UK.