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Posts Tagged ‘Portfolio Recovery Associates Inc’

Despite the Still-Weakened Economy, Debt Collector comes Out on Top

While millions of Americans must grapple in this difficult and topsy-turvy economy, some businesses continue to thrive. In fact, Portfolio Recovery Associates, Inc., a company that purchases, collects, and manages consumer debt, are reporting record-breaking profits. Portfolio Recovery Associates, like other debt collectors, makes money by purchasing consumer debts from creditors, banks and other financial…

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Deceased Womans Name Was Robo-Signed on Thousands of Affidavits

In 2008, Portfolio Recovery Associates Inc. was sued for fraud after affidavits were submitted bearing the name of Martha Kunkle, who died in 1995. It appears that Martha Kunkle has come back to life. Last July, lawyers for Portfolio Recovery Associates sought judgment in a lawsuit against a Seattle woman for $2,892.10 in credit-card debt…

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Boom in Debt Buying Fuels Another Boom in Lawsuits

Roughly 94% of collection cases filed against borrowers result in default judgments in favor of the debt buyer, according to industry estimates. The majority of borrowers don’t have a lawyer, some don’t know they are even being sued, and others don’t appear in court, say judges.

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