DCWP - CFPB Settlement with Portfolio Recovery Associates

Consumer and Worker Protection


Recent Settlements and Topics

Portfolio Recovery Associates


Notice to NYC Consumers: Have You Been Contacted by Portfolio Recovery Associates About a Debt Collection?

Portfolio Recovery Associates (Portfolio) has a settlement agreement with the federal government about its illegal debt collection practices.

As part of the agreement, Portfolio must stop their illegal debt collection practices. For example, Portfolio CANNOT:

Collect on old debt (also known as “expired” or “beyond the statute of limitations”). As of November 2021, debt collectors cannot sue or threaten to sue you about an old debt.

Ignore oral or written disputes about a debt or requests for verification of the debt. Portfolio must respond to your dispute about a debt or provide original documentation to verify that the amount claimed to be owed is accurate.

Learn more about the settlement, including the press release (in English and Español | Spanish ) by the Consumer Financial Protection Bureau (CFPB).

If you believe you have been illegally contacted by Portfolio, file a complaint with DCWP.