PRA UK Wins Credit Excellence Award in Compliance

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KILMARNOCK, Scotland, Oct. 29, 2013 (GLOBE NEWSWIRE) -- Portfolio Recovery Associates UK (PRA UK), a leading debt purchase and contingent collections business, was honoured with the Credit Excellence Award in Compliance for 2013 from Credit Collections & Risk (CCR) media. CCR annually recognises excellence within the credit, collections and risk industry.

At this month's awards ceremony, CCR's presenting judge, Alasdair Skeoch, head of credit operations, BrightHouse, said, "This award was strongly contested with entrants representing the very big and the very small. Our finalists were all potential winners, but Portfolio Recovery Associates UK demonstrated that they have invested heavily in ensuring their compliance is best in class whilst not letting that distract them from delivering great customer outcomes."

Owen James, chief executive, PRA UK, said, "We are particularly pleased to have been recognised and successful in the category of excellence for compliance. This award reflects our clients' and our own uncompromising, continued commitment to treating customers fairly and is a credit to our entire UK team."

About PRA UK

Portfolio Recovery Associates UK (PRA UK) is a leading debt purchase and recovery business. By purchasing defaulted consumer debt, PRA UK returns capital to banks and other creditors throughout England, Ireland, Scotland and Wales that helps expand financial services for consumers. PRA UK's fee-based business also helps UK banks, finance houses, utilities and creditors recover past-due receivables from their customers. The company has a strong culture of compliance and works with customers to create realistic, affordable repayment plans on owned accounts and those managed on behalf of its clients.

PRA UK is a subsidiary of Portfolio Recovery Associates, Inc. (Nasdaq:PRAA), a financial and business services company and leader in the U.S. debt buying industry. For more information, please visit www.portfoliorecovery.com/uk/.

CONTACT: News Media Contact: Ray Atkinson Assistant Vice President, Corporate Communications US 757-961-3264 RayAtkinson@PortfolioRecovery.com

Source:Portfolio Recovery Associates