The CFPB charged Portfolio Recovery Associates with violating numerous requirements of the 2015 order during the five-year period the order was in effect and engaging in deceptive conduct in violation of the Fair Debt Collection Practices Act and the Consumer Financial Protection Act, including:

• Making representations about unsubstantiated debts

• Threatening consumers with potential legal actions and initiating debt collection lawsuits without offering or possessing required documentation

• Misrepresenting that it would provide certain documents within thirty days

• Collecting on time-barred debt without making required disclosures

• Suing to collect on time-barred debt

The CFPB also alleges that Portfolio Recovery Associates committed numerous violations of the Fair Credit Reporting Act and its implementing Regulation V, which include:

• Failing to inform consumers about investigation outcomes

• Failing to timely resolve disputes

• Conducting unreasonable investigations

Read more details from the Consumer Financial Protection Bureau here.

If you're being sued by Portfolio Recovery Associates and have questions about your legal rights, call us for a free consultation at 617-966-0000.