March 23, 2023

One of the largest debt collectors in the country, Portfolio Recovery Associates, will pay more than $24 million to settle claims that it violated the Fair Debt Collection Practice Act, the Consumer Financial Protection Act, and a 2015 CFPB order by continuing to employ illegal debt collection tactics.  According to the press release, some of the illegal tactics used included threatening consumers with legal action or initiating debt collection lawsuits while failing to possess proper documentation about debts; failing to timely send documentation about debts, resolve disputes, or inform consumers about investigation outcomes; and collecting and suing on debts beyond statutes of limitations.  CFPB