Sued by Portfolio Recovery Associates?

Who Is Portfolio Associates Recovery LLC?

We have fought thousands of debt collection lawsuits filed by Portfolio Recovery Associates.  They are a buyer of charged off debt, usually credit card debt.  
Portfolio may be showing up on your credit report or they may have served you with a lawsuit. Portfolio Recovery Associates LLC  files thousands of collection lawsuits each year against consumers for unpaid credit card debt. PRA will hire a local collection attorney to file the lawsuit.  Their primary goal is debt collection.  They may be showing up on your credit report right now or they have be actively suing you for debt.  
They are not simply a collection agency, they are an actual debt buyer of debts and they frequently file debt collection lawsuits as part of their overall debt collection process.
If you have been served lawsuit papers from Portfolio Recovery Associates, you must take action now to prevent a default judgment.

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Who Owns Portfolio Recovery Associates?

 Portfolio Recovery Associates is owned by PRA Group, Inc. operating under the name of Portfolio Recovery Associates, Portfolio Recovery Associates, LLC, Portfolio Recovery Associates, Inc., PRA, or PRA LLC.  It is a publicly traded company with an average stock price of around $57 a share (known as PRAA on NASDAQ).
The company headquarters is located in
Norfolk, Virginia:
Portfolio Recovery Associates, Inc.
Portfolio Recovery Associates, LLC (PRA LLC)
120 Corporate Boulevard
Norfolk, VA 23502

What Types of Debt Does Portfolio Recovery Associates Purchase?

Portfolio Recovery Associates purchases several types of debt from various companies and entities throughout the United States. Most debts are delinquent unsecured debts that have been charged off by the original creditor such as credit card debt, medical debts, and personal loans.  
Portfolio Recovery Associates pays the creditor a percentage on the dollar for the delinquent account.  The creditor benefits by receiving some of the debt that it has charged off as bad debt and believes that it will never collect from the individual.  Portfolio Recovery Associates benefits by receiving the account for less than is owed on the account with the intention of collecting the full amount owed from the individual thereby making a profit on the purchase. In order for this to be profitable for Portfolio Recovery Associates, the company must aggressively pursue collections efforts against each account.
Portfolio also has their own in house law firm in various states.  Generally they retain the lawsuits and file them themselves without having to hire an outside law firm or attorney.

What to do if Sued by Portfolio Recovery Associates:

Don’t Ignore the Lawsuit Papers: Ignoring the debt collection lawsuit will result in a default judgment against you followed by potential garnishment of your bank account or wages depending on state collection laws.  This is more serious than a simple collection letter.  It’s a Court process that could give Portfolio Recovery the power to take some of your assets or put a lien on property that you own.  A debt lawsuit is much more important than simply having a negative mark show on your credit report.  A low credit score is not nearly as critical as a default judgment for not responding to a debt collection lawsuit. You must have a debt collection defense strategy.
File a Response to the Lawsuit: When you are sued by a plaintiff like Portfolio Recovery on alleged credit card debt, You must respond to the lawsuit by filing an answer with the court within the specified deadline (usually 14-30 days from service). The deadline varies depending on what Court the case was filed in. In your answer, you generally must deny the allegations of the creditor or you will admit the debt and a default judgment will be awarded.
List Defenses in Your Answer: Debt lawsuits require a response, just like any lawsuit for bad debt.  In your answer, you can also assert any valid defenses you may have, such as disputing the debt’s accuracy, claiming the debt is past the statute of limitations, or arguing that you’re not the responsible party.  As the defendant, you must properly assert your defenses.  Portfolio Recovery Associates may not be able to show adequate documentation.  Since they are a debt buyer, Portfolio must be able to provide adequate documentation from the original creditor.  
Attend all Court Hearings or Have your Attorney appear: When legal action has been taken against you by a debt buyer, the Court will likely set deadlines and hearings in your case. Make sure to attend all scheduled hearings and proceedings and handle all deadlines. This is another reason why it is wise to hire an attorney who focuses on debt lawsuit defense.  Getting legal advice regarding consumer protection can go a long way in defending against a plaintiff in a debt collection case.
Obey Court Orders: Failure to follow court orders do so can result in adverse legal consequences.  This is different from the debt collection laws that creditors must follow prior to the debt lawsuit being filed.  If you fail to comply with a Court order the judge could ultimately hold you in contempt of Court.  This will not help in your path to debt relief, being held in contempt is not anything you want to mess with.
Prepare for the case Trial: A debt collection lawsuit often ends up in trial.  Many times there are multiple settings if it has been reset multiple times.   It’s important to get legal advice when faced with a debt collection lawsuit filed by Portfolio Recovery.  If you don’t have an attorney on your side, you are expected to understand the Court rules and procedures at trial.  If you are dealing with legal action against you, be sure to read all local rules of the Court as well as the applicable rules of civil procedure prior to attending your trial.
Consider Negotiating a Settlement:  You or your attorney may be able to negotiate a favorable debt settlement of the lawsuit as opposed to leaving it up to the judge at trial. This type of debt relief is often a wise resolution to eliminate the risks of trial but you must make sure there is a valid written debt settlement agreement to ensure the bad debt is actually resolved.   The last thing you want is to settle then have Portfolio Recovery come after you later claiming more unpaid credit card debt.
Hire a Debt Relief Law Firm on a Flat Fee – A debt relief attorney or a debt law firm is often your best bet when you are being sued for debt as they will provide you with debt collection defense.  Navigating the Court process for a debt claim can be complicated when served with a debt lawsuit.  Getting legal advice is key.  Additionally, you will likely be required to appear in Court one or more times. If you hire an attorney they will likely be able to appear for you so you don’t have to take off work to go to court multiple times.  You should know what the fee is going to be and avoid paying a lawyer by the hour since this could get very expensive.  At Weston Legal we only charge flat fees and we are very clear what the fees are as they are posted below.  We won’t ever charge any hidden fees or charge by the hour like most law firms.   Being a defendant in a debt collection lawsuit is not a fun process. 

What Happens With a Judgment?

Your Bank Account Can Be Frozen and Emptied by Many Judgment Creditors

A Judgment Can Often Cloud Title on Your Homestead Property

A Judgment is Published on your Credit Report as a “Public Record”

With a Judgment, certain property can be sold at auction to pay towards the judgment

Do I Need a Lawyer?

Without a Lawyer

Default Judgment
The vast majority of collection lawsuits end up with a judgment against the consumer. This is primarily because the consumer did nothing to protect themselves or they attempted to defend the lawsuit themselves.

With a Lawyer

Default Judgment

Most of our cases are dismissed by the creditor prior to trial or we reach a favorable settlement for our clients depending on the circumstances of their situation.

Our Results with Portfolio Recovery LLC

1) Portfolio Recovery LLC vs. Our Client
900,413; Harris County Court at Law No. 1
Result: Case Dismissed, no money paid to Portfolio Recovery

2) Portfolio Recovery LLC vs. Our Client
JC1100809G; Dallas County Justice Court 4-1
Result: Case Dismissed, no money paid to Portfolio Recovery

3) Portfolio Recovery LLC vs. Our Client
02-JC-11-00259; Collin County Justice Court 2-1
Result: Case Dismissed, no money paid to Portfolio Recovery

4) Portfolio Recovery LLC vs. Our Client
62710; Travis County Justice Court 1-1
Result: Case Dismissed, no money paid to Portfolio Recovery

5) Portfolio Recovery LLC vs. Our Client
986,262; Harris County Court #2
Result: Case Dismissed, no money paid to Portfolio Recovery

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