Virginia-based debt collection company reaches settlement with Massachusetts

(Source: MGN)
By  | 

BOSTON (AP) -- The attorney general of Massachusetts says one of the nation's largest debt collection companies has agreed to pay $4 million to settle allegations that it engaged in deceptive and unfair collection practices.

Attorney General Maura Healy in a statement Monday said Virginia-based Portfolio Recovery Associates LLC "systematically and repeatedly broke our laws" and went after low-income, elderly, and disabled consumers.

The settlement will be used to pay back thousands of consumers.

The state alleged Portfolio demanded consumers pay debts that the company could not substantiate; misled consumers about protections for exempt sources of income; and often failed to verify the accuracy of consumer information it reported to credit reporting agencies.

The attorney general says Portfolio has agreed to change its business practices.

A voicemail was left with the company Monday.

The comments sections of are designed for thoughtful, intelligent conversation and debate. We want to hear from our viewers, but we only ask that you use your best judgment. tracks IP addresses. Repeat violators may be banned from posting comments.
View Comment Guidelines
powered by Disqus