Portfolio Recovery Associates, Inc. is a full-service provider of outsourced receivables management and related services. The Company’s primary business is the purchase, collection and management of portfolios of defaulted consumer receivables. These are the unpaid obligations of individuals to credit originators, which include banks, credit unions, consumer and auto finance companies and retail merchants. The Company also provides a range of contingent and fee-based services, including collateral-location services for credit originators via PRA Location Services, LLC (IGS), audit and debt discovery/recovery services for government entities through PRA Government Services, LLC (RDS) and MuniServices, LLC (MuniServices). On July 1, 2008, the Company acquired 100% of the membership interests of MuniServices. On August 1, 2008, the Company acquired Broussard Partners and Associates, Inc. (BPA).
(Source: 10-K) – less