866-322-5258 (2024)

FAQs

Whose phone number is 866 322 5258? ›

Who's Calling From 866-322-5258? Portfolio Recovery Associates, LLC.

On March 23, 2023, the Bureau filed a complaint and proposed stipulated final judgment and order to resolve the Bureau's claims against Portfolio Recovery Associates, LLC, one of the largest debt collectors in the United States. The court entered the order on April 13, 2023.

You Must Always Respond When You Receive Court Papers

Regardless of whether you believe the debt is yours, companies like Portfolio Recovery Associates are using the legal process to get a default judgment against you. If you ignore court papers, PRA will obtain a valid default judgment that it can begin to enforce.

If you've been contacted by us, it's because your original creditor sold us your account, and we now own your debt. Learn more about how debt collection works in general and at Portfolio Recovery Associates, LLC.

If you've received a text from an 866 area code, it is likely a message from a business. However, it may also be spam. In that case, it is always better to avoid replying to 866 area code text messages, and you should certainly avoid sharing any personal info.

As a whole, area code 866 numbers are not a scam. They are government-assigned toll-free numbers given to many businesses to conduct their business. Generally, there is no need to feel alarmed when contacting an 866 number.

If you have received a summons and complaint from Portfolio Recovery please do not ignore it, it means that you have been sued.

If the Court grants the default judgment, Portfolio Recovery Associates will be empowered to take the following actions against you: Garnish your wages. Take money from your checking account.

Ignoring Portfolio Recovery can buy you some time, but pay strict attention to the statute of limitations. If the statute of limitations on your debt hasn't expired, the company may take legal action against you once you become unresponsive.

Portfolio may be showing up on your credit report or they may have served you with a lawsuit. Portfolio Recovery Associates LLC files thousands of collection lawsuits each year against consumers.

What percentage will Portfolio Recovery settle? ›

Since Portfolio Recovery likely purchased your debt for less than 8% of its original values, they would still profit if you settled to a pay a percentage of the cost. Most debt collection agencies are will settle for 1%–60% of the original debt amount.

If you've been contacted by us, it's because your original creditor sold us your account and we now own your debt. We offer convenient online tools where you can create a repayment plan that fits within your budget. If you have an account with us, please contact us so that we can work together.

The Power of Pay-for-Delete with Portfolio Recovery

In this case, you can try what's called a pay for delete. This is a strategy in which you negotiate with your creditor to have them remove the account from your credit report upon payment. It's important to get any agreement in writing.

Lawsuits can be scary, but doing nothing is the worst possible option. When someone doesn't defend a lawsuit filed against them, they can have their wages garnished, their bank account garnished, or suffer other legal penalties. Here are 5 steps to get your Portfolio Recovery Associates lawsuit under control NOW!

It is not uncommon today for people to be pursued by debt collectors for money they don't owe. This occurs for several reasons: the original creditor may have made an accounting error, you may be a victim of identity theft, or the creditor may have found the wrong person with a similar name.

Portfolio Recovery Associates is a large debt collection agency and debt buyer that purchases delinquent credit card debt and other accounts from banks and original creditors like Citibank debt, Bank Of America debt, Dell Financial debt, GE Capital debt, Express debt, Gap Debt, Lowes debt, Lord & Taylor debt, JC Penny ...

Portfolio Recovery Associates is a wholly-owned subsidiary of publicly traded PRA Group (NASDAQ: PRAA), and is one of the largest debt collectors in the United States. The company's principal headquarters is in Norfolk, Virginia. PRA Group reported net income of over $183 million in 2021.

More often than not, an 866 area code means a large business or company is calling you; however, in some instances, it may be a scam.

Portfolio Recovery Associates, LLC was formed almost 25 years ago, specifically in 1996 in the Commonwealth of Virginia. They are one of the largest debt collection companies in the United States and also collect debts under alternate business names like “PRA III, LLC” and “Anchor Receivables Management.”