PRA Group Inc

NASDAQ:PRAA

PRA Group, Inc. engages in the purchase, collection and management of portfolios of nonperforming loans. The company is headquartered in Norfolk, Virginia and currently employs 3,446 full-time employees. The company went IPO on 2002-11-08. The firm's primary business is the purchase, collection and management of portfolios of nonperforming loans. The firm purchase portfolios of nonperforming loans at a discount in two categories: Core and Insolvency. Its Core operation specializes in purchasing and collecting nonperforming loans, which it purchases since either the credit originator and/or other third-party collection agencies have been unsuccessful in collecting the full balance owed. Its Insolvency operation consists primarily of purchasing and collecting on nonperforming loan accounts where the customer is involved in a bankruptcy proceeding or the equivalent in some European countries. The company also provides fee-based services on class action claims recoveries and by servicing consumer bankruptcy accounts in the United States.