Portfolio Recovery: What It Is and How to Remove It From Your Credit Report
by Joe Mahlow • Updated on Mar. 17, 2026
Portfolio Recovery is a debt buyer with 6,086 CFPB complaints and $51M in fines. Learn what they collect, why they keep calling, and how to remove them.
Portfolio Recovery · Debt Collection · Credit Report · Consumer Rights
Portfolio Recovery shows up on millions of credit reports every year. Before you call them back, make a payment, or panic about a lawsuit, read this. The company has been fined over $51 million by the CFPB for illegal collection practices. You have more rights than they want you to know about.
Updated March 2026 · 11 min read · Sources: CFPB Enforcement Database, BBB, CFPB FDCPA Annual Report 2023
What Is Portfolio Recovery? Portfolio Recovery, officially known as Portfolio Recovery Associates (PRA), is one of the largest debt buyers in the United States, headquartered in Norfolk, Virginia, and publicly traded as PRA Group (NASDAQ: PRAA). Portfolio Recovery purchases charged-off consumer debt, primarily credit card accounts and personal loans, from original creditors at a steep discount and then attempts to collect the full balance. If Portfolio Recovery is on your credit report or calling you, it means they believe they own a debt tied to your name. That is a claim, not a legal judgment. You have the right to verify it before doing anything.
He did not recognize the name. Portfolio Recovery Associates. It was sitting on his Equifax report alongside a balance he had never agreed to: $2,340 from a credit card account he had closed and settled four years earlier. His score had dropped 67 points from a collection he had already paid.
This is exactly the type of case we work with every week at ASAP Credit Repair USA. PRA is one of the most complained-about debt collectors in the country, with 6,086 complaints in the CFPB database and a pattern of reporting debts that either do not belong to the consumer, are outside the statute of limitations, or contain significant inaccuracies in the balance and date. The CFPB has fined them over $51 million across two separate enforcement actions specifically because of these practices.
This guide covers everything: who PRA is, what they collect, what happens if you ignore them, why they keep calling, and exactly how to get them off your credit report. Every step is grounded in federal law that applies to you regardless of your state.
What are people complaining about? CFPB complaint breakdown for PRA
What does Portfolio Recovery collect for?
Portfolio Recovery collects on charged-off consumer debts that it has purchased from original creditors, including credit card accounts, personal loans, retail store accounts, phone bills, and auto deficiency balances. Portfolio Recovery is a debt buyer, not just a collector, meaning it pays pennies on the dollar for old delinquent accounts and then attempts to collect the full stated balance. PRA Group, its parent company, reported purchasing over $200 billion in defaulted consumer debt.
Because PRA purchases debt in bulk, often from portfolios that sellers have already flagged as having approximate or unverified balances, the company routinely contacts consumers about debts that are:
- Inaccurate in amount, because the original balance was never confirmed before the sale
- Past the statute of limitations in the consumer's state, making them legally unenforceable in court
- Already paid or settled with the original creditor but still listed as outstanding in PRA's records
- Belonging to a different person with a similar name or the same address
- The result of identity theft or credit file errors the original creditor never corrected
Portfolio Recovery Associates enforcement history
Why do I keep getting Portfolio Recovery calls?
You keep getting calls from Portfolio Recovery because they believe they own a debt associated with your name or phone number. This does not mean the debt is valid, accurately reported, or legally yours. Portfolio Recovery buys debt in bulk from portfolios that sellers have acknowledged may contain unverified balances and missing payment records. Nearly 30% of all CFPB complaints against Portfolio Recovery allege the debt was not owed at all. You have the right to demand written validation before taking any action.
The most common reasons PRA is calling someone who does not believe they owe anything:
- Mistaken identity: CFPB data shows 56% of all debt collection complaints involve collectors contacting the wrong person. A shared name, old address, or phone number reassignment can misdirect collection calls entirely.
- Outdated records: PRA buys portfolios that may be years old. The balances, account numbers, and contact details in their files frequently do not match current reality.
- Debt already paid: The original creditor settled or charged off the account before selling it, but that resolution was not recorded in the portfolio data PRA purchased.
- Time-barred debt: PRA has been specifically sanctioned by the CFPB for contacting consumers about and suing on debt that is past the statute of limitations, which varies by state and debt type.
- Identity theft: Old charged-off accounts are prime targets for fraudulent use. An account opened under your Social Security number by someone else can appear in PRA's files.
PRA's primary phone number is 800-772-1413. Other commonly reported numbers include 757-519-9300 and 800-772-1413. If you are receiving calls from numbers you do not recognize, check these against the CFPB complaint database to confirm the caller before responding.
Portfolio Recovery on Your Report Does Not Have to Stay There
PRA has been fined over $51 million for collecting on debts they could not substantiate. Nearly 30% of complaints against them are for debts that were not owed at all. Before you accept their entry as permanent, find out whether it is accurate, verifiable, and legally reportable. Many are not.
What happens if I ignore Portfolio Recovery?
Ignoring Portfolio Recovery is dangerous. Portfolio Recovery has a documented history of filing debt collection lawsuits, and approximately 90% of the judgments debt buyers obtain in court are default judgments, meaning the consumer never responded. A default judgment allows Portfolio Recovery to garnish wages, levy your bank account, and place liens on property. Even if the debt is old, inaccurate, or past the statute of limitations, you must respond to court papers within the stated deadline.
What to do in each situation with Portfolio Recovery
How do I get Portfolio Recovery off my credit report?
To get Portfolio Recovery off your credit report: first send a written debt validation letter demanding they prove the debt is valid and legally theirs. If errors exist in the entry, file FCRA disputes with all three credit bureaus. If the debt is valid, negotiate a written pay-for-delete agreement before any payment. If Portfolio Recovery cannot verify the debt, they must stop reporting it. A credit repair professional can manage this entire process simultaneously.
Pull all three credit reports and document every PRA entry. Visit AnnualCreditReport.com and download your Equifax, Experian, and TransUnion reports. Record the balance reported, the date of original delinquency, the account number, the original creditor name, and the date first reported. Check whether the same debt appears multiple times under different names, which is a common error when debt is resold.
Send a written debt validation letter by certified mail. Under the FDCPA, PRA must send you a written validation notice within 5 days of first contact. You have 30 days from that notice to dispute the debt in writing. Even outside that window, you can still request validation. PRA must then prove the debt is yours, the balance is accurate, they have the right to collect it, and the debt is within the statute of limitations. Send the letter to: Portfolio Recovery Associates, LLC, 120 Corporate Blvd., Norfolk, VA 23502. Keep the tracking number.
File FCRA disputes for any error in the reported entry. If the balance, date, original creditor, or account number contains any inaccuracy, file disputes with all three bureaus simultaneously. Include a brief explanation of the error and attach any documentation you have. Each bureau has 30 days to investigate. If PRA cannot verify the accuracy of the specific item you disputed, it must be removed from your report.
Negotiate a pay-for-delete agreement if the debt is valid. If PRA can validate the debt and the balance is accurate, contact them in writing and offer to settle in exchange for a written commitment to delete the tradeline from all three credit bureaus. Do not pay before getting this agreement in writing and signed by a PRA representative. Never give PRA direct access to your bank account, even if you intend to pay.
File a CFPB complaint if PRA violates the FDCPA during this process. If PRA continues collection after receiving a cease-and-desist letter, continues reporting after being unable to validate, uses threatening or deceptive language, or contacts you outside the permitted hours of 8 a.m. to 9 p.m., file a complaint at consumerfinance.gov/complaint. The CFPB has already taken action against PRA twice. A pattern of new complaints directly informs their ongoing monitoring.
What are your rights when dealing with Portfolio Recovery Associates?
Two federal laws protect you regardless of what state you live in. These are not suggestions for how PRA should behave. They are legal requirements with financial penalties for violations.
Quick checklist: What to do right now if PRA is on your report
Pull all three bureau reports at AnnualCreditReport.com and document every PRA entry including the balance, original creditor, delinquency date, and date first reported
Check whether the balance, date, or account details match your own records. Any discrepancy is grounds for an FCRA dispute
Send a written debt validation letter to PRA by certified mail. Do not call, do not pay, do not verbally acknowledge the debt
File FCRA disputes with all three bureaus simultaneously if any error exists, attaching documentation
If the debt is valid, negotiate a pay-for-delete agreement in writing before paying anything
If PRA has sent court papers, respond by the deadline. Contact an FDCPA attorney immediately
File a CFPB complaint if PRA violates any FDCPA provision during this process
PRA Has Been Fined $51 Million for Exactly the Kind of Practices That Put Their Name on Your Report
The CFPB has proven twice that Portfolio Recovery Associates collects on debts it cannot substantiate. Our team audits your 3-bureau report, sends debt validation letters, files FCRA disputes, and negotiates deletions, all simultaneously. Most clients see the first results within 30 to 45 days.
Full 3-bureau audit to document every PRA entry and identify removal grounds
Debt validation letters sent to PRA by certified mail
FCRA disputes filed with Equifax, Experian, and TransUnion simultaneously
Pay-for-delete negotiations handled in writing with confirmed bureau update tracking
ASAP Credit Repair USA has helped thousands of consumers remove Portfolio Recovery Associates and other collection accounts legally and permanently.
Start My Free Credit Review → No obligation · Secure · Results within 30 to 45 days in most casesFrequently Asked Questions
What does Portfolio Recovery collect for?
Portfolio Recovery Associates purchases charged-off consumer debt, primarily credit card accounts and personal loans, from original creditors at a steep discount and then attempts to collect the full stated balance. PRA is a debt buyer, meaning it legally owns the debt rather than collecting on someone else's behalf. Their parent company PRA Group (NASDAQ: PRAA) has purchased over $200 billion in defaulted consumer accounts.
What happens if I ignore Portfolio Recovery?
Ignoring Portfolio Recovery is dangerous. PRA files debt collection lawsuits, and approximately 90% of judgments debt buyers obtain are default judgments because the consumer never responded. A default judgment can allow wage garnishment, bank levies, and property liens. Even if the debt seems questionable, never ignore court papers. Respond by the stated deadline and consult an FDCPA attorney.
Why do I keep getting Portfolio Recovery calls?
PRA believes it owns a debt tied to your name or phone number. This does not mean the debt is valid or legally yours. PRA buys bulk debt portfolios with incomplete and sometimes inaccurate records. Nearly 30% of all CFPB complaints against PRA allege the debt was not owed at all. Send a written debt validation letter by certified mail and do not acknowledge the debt verbally.
How do I get Portfolio Recovery off my credit report?
Send a written debt validation letter to PRA demanding they prove the debt is valid. If errors exist, file FCRA disputes with all three credit bureaus simultaneously. If the debt is valid, negotiate a written pay-for-delete agreement before any payment. If PRA cannot verify the debt, they must stop reporting it. A professional credit repair service can handle all of these steps simultaneously.
Is Portfolio Recovery Associates a scam?
No. PRA is a legitimate, publicly traded company (NASDAQ: PRAA). However, the CFPB has fined them over $51 million across two enforcement actions for illegal collection practices, and nearly 30% of CFPB complaints against them allege collection of debt not owed. Legitimate does not mean accurate. Always demand written validation before taking any action.
Can Portfolio Recovery Associates sue me?
Yes. PRA files debt collection lawsuits. The CFPB found PRA initiated thousands of lawsuits without possessing required documentation. If you receive court papers from PRA, respond by the stated deadline or risk a default judgment. A default judgment can result in wage garnishment of up to 25% of disposable income. Always consult an FDCPA attorney if sued by a debt collector.
How long does Portfolio Recovery stay on my credit report?
A Portfolio Recovery Associates entry can legally remain on your credit report for up to 7 years from the original date of delinquency on the underlying account, not the date PRA purchased the debt or reported it. If it is still showing after 7 years from the original delinquency, it is a disputable error under the FCRA and must be removed.
Related Reads and Additional Resources
- Beat Portfolio Recovery Associates — The complete FCRA dispute action plan for Portfolio Recovery Associates.
- How to Use a Goodwill Letter to Remove Late Payments — If the late payments that led to the original charge-off are also showing on your report, a goodwill letter may remove them independently.
- How to Clean Your Credit Report the Proven Way — The full system for removing multiple negative items simultaneously, which is often necessary when a single account like PRA triggers several negative entries at once.
- CFPB Complaint Portal — File a complaint directly against Portfolio Recovery Associates if they violate the FDCPA during the dispute or validation process.
- CFPB Enforcement Orders Against PRA — The full official record of both the 2015 and 2023 enforcement actions, including the specific violations found by the Bureau.