Class Action Lawsuit Against Portfolio Recovery Associates

WCNC, a local NBC news affiliate in Charlotte, NC, recently aired a profile on Shari Spector, one of thousands of people sued by Portfolio Recovery Associates in North Carolina.

Shari's story is similar to many people who have been sued by a debt collector; she took on a debt that was very manageable at the time, only to have external circumstances make it impossible for her to keep up with the payments. Years after thinking the debt was behind her, a company of which she'd never heard, Portfolio Recovery Associates, sued her for the entire balance, court costs, and other fees. Shari worked with a lawyer, who was able to show that Portfolio Recovery Associates was not complying with laws regulating debt collection, and Shari was able to obtain a settlement. The lawyer has also won a class action settlement against Portfolio Recovery Associates for $5.75 million. Portfolio Recovery Associates has been the subject of multiple enforcement actions by the Consumer Financial Protection Bureau (CFPB) for failing to comply with federal debt collection law, and Portfolio Recovery Associates recently paid $24 million in penalties for its behavior.

If you've been sued by Portfolio Recovery Associates or any other debt collector, reach out to an attorney. It is possible to successfully defend against collection actions, and you might have a legal claim against the debt collector for failing to comply with regulations in this area.

You can read more about Shari's story and Portfolio Recovery Associates at this link.