Debt collectors are hardly popular, but the reality is that they fill a critical niche in the credit cycle and ultimately keep rates lower than they would otherwise be. Not surprisingly, the housing crunch and the resulting recession created a flood of defaulted receivables for Portfolio Recovery Associates (PRAA) to buy.
Now, though, delinquencies are falling and U.S. households continue to deleverage. Can Portfolio Recovery continue to thrive by expanding its operations in areas like legal collections and bankruptcy and by out-executing the competition with better pricing discipline and operational excellence?
A Growing Player In The Industry...
Portfolio Recovery has enjoyed exceptional growth across multiple metrics. Revenue has grown from $149 million in 2005 to nearly $600...