PRA Group (NASDAQ:PRAA), operating under the NASDAQ symbol PRAA, is a leading global purchaser and servicer of nonperforming consumer debt portfolios. Founded in 1996 and headquartered in Norfolk, Virginia, the company acquires delinquent receivables from financial institutions, credit card issuers and telecommunications providers. PRA Group’s core business model involves purchasing distressed debt at a discount and employing a variety of recovery strategies—ranging from letters and phone-based collections to settlement negotiations and legal actions—to maximize returns on acquired portfolios.
The company serves both individual consumers and institutional sellers by offering tailored solutions designed to balance efficient recovery with consumer-oriented practices. PRA Group leverages a comprehensive suite of proprietary technology platforms and analytics tools to optimize collection outcomes. These platforms support multi-channel engagement, enabling digital payments, web-based settlement portals and mobile applications that simplify repayment for debtors while maintaining compliance with regulatory standards.
With operations spanning the United States, Europe and select Asia-Pacific markets, PRA Group maintains offices in key geographies including the United Kingdom, Germany, Italy, Spain and Ireland. This international footprint allows the company to apply local expertise in legal and regulatory frameworks, consumer protection norms and language-specific outreach. By integrating regional practices with global best practices, PRA Group seeks to deliver consistent performance and service quality to both its sellers and consumers.
Under the leadership of President and CEO Jeff Erhardt, PRA Group emphasizes a culture of innovation, compliance and social responsibility. The company invests in employee training, digital infrastructure and data security to uphold ethical standards in debt resolution. PRA Group also pursues strategic partnerships and community outreach programs aimed at financial education, underscoring its commitment to responsible debt recovery and long-term value creation for investors, clients and consumers alike.
