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PRA Group was founded as Portfolio Recovery Associates, LLC in March 1996 by Kevin Stevenson and Steve Fredrickson, who worked previously in collections at Household Finance. [3] With a staff of four in Norfolk, Virginia, the company began to purchase debt in May 1996. [7] In 2000, PRA purchased $1 billion of debt. Then operating as Portfolio ...
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The company was founded in 1991 and has grown through a number of acquisitions. It is listed on the Oslo Stock Exchange and controlled by John Fredriksen. [1] July 16, 2014 Portfolio Recovery Associates completed a $1.3 billion acquisition [2] of Aktiv Kapital AS, and they are now known as PRA Group. [3]
Asset Acceptance Capital Corp. was a publicly traded company. By 2005 the company's profits rose to $51.3 million. [citation needed]By 2009, Asset Acceptance Capital Corp was one of the "four largest publicly traded debt buyers" who purchased $19.6 billion in distressed debt along with Encore Capital Group, Asta Funding Inc., and Portfolio Recovery Associates.
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