Portfolio Recovery Associates is a full-service provider of outsourced
receivables management. Portfolio Recovery Associates purchases, collects and
manages portfolios of defaulted consumer receivables. Defaulted consumer
receivables are the unpaid obligations of individuals to credit originators,
including banks, credit unions, consumer and auto finance companies, retail
merchants and other service providers. The defaulted consumer receivables
Portfolio Recovery Associates collects are either purchased from the credit
originator or are collected on behalf of clients on a commission basis.