PRA Group, Inc., a financial and business service company, engages in the purchase, collection, and management of portfolios of defaulted consumer receivables in North America and Europe. It is involved in the acquisition, collection, and processing of unpaid and normal-course accounts receivable owed to credit grantors, governments, retailers, and others. The company also acquires receivables of Visa and MasterCard credit cards, private label and other credit cards, installment loans, lines of credit, insolvency accounts, deficiency balances of various types, legal judgments, and trade payables from various receivable owners, including banks, credit unions, consumer finance companies, telecommunication providers, retailers, utilities, auto finance companies, student loan companies, and other debt buyers. In addition, it provides fee-based services comprising vehicle location, skip tracing, and collateral recovery services for auto lenders, governments, and law enforcement; revenue administration, audit, and debt discovery/recovery services for local government entities; class action claims recovery and related payment processing services; and contingent collections of defaulted finance receivables. The company was formerly known as Portfolio Recovery Associates, Inc. and changed its name to PRA Group, Inc. in October 2014. PRA Group, Inc. was founded in 1996 and is headquartered in Norfolk, Virginia.