SOURCE: Portfolio Recovery Associates

Portfolio Recovery Associates

Portfolio Recovery Associates

November 02, 2011 10:00 ET

Claims Compensation Bureau Leverages Capital to Expand Claims Purchasing Service

CONSHOHOCKEN, PA--(Marketwire - Nov 2, 2011) - Claims Compensation Bureau, LLC (CCB), an industry leader in securities class action claims filings, today announced that it has expanded its class action claims services, completing significant claims purchases within the last 60 days. CCB's claims purchasing service provides immediate liquidity for clients wishing to accelerate and monetize the unknown future recovery of class action settlements.

According to CCB's founder and president, Brad Heffler, "CCB's claims purchasing service offers an immediate quantified dollar amount for claimants who might otherwise wait years for possible recoveries. This service works especially well for hedge funds that have closed or anticipate closing, since it allows these funds the ability to maximize current distributions to investors."

A pioneer of the class action claims filing services industry for more than 15 years, CCB has assisted many institutional and Fortune 500 company claimants in recovering hundreds of millions of dollars in class action claims, often in cases where its clients would have forfeited substantial recoveries without CCB's services.

CCB is a majority-owned subsidiary of Portfolio Recovery Associates, Inc. (NASDAQ: PRAA). The company combines its substantial class action claims recovery expertise with PRA's impeccable reputation as a reliable deal closer and a compliant receivables manager. Backed by PRA's access to capital and broad receivables underwriting experience, CCB is now able to fund the purchase of virtually any size deal in as little as five days.

CCB now offers three options to help serve institutional class action claimants: 1) full-service class action monitoring and claims filing for a contingency or flat fee; 2) a complete upfront cash buyout of future recoveries and all associated risk; or 3) a combination of both in the form of a partial upfront payment with back-end revenue sharing of future recoveries.

Class action claimants who are interested in taking advantage of CCB's class action claims services are encouraged to contact Brad Heffler, CCB's president, at 610-834-9010.

About CCB
Founded in 1996, CCB created the industry of filing securities class action claims on behalf of institutional investors. Its securities clients are some of the largest financial companies in the world including hedge funds, investment banks, asset management firms and mutual funds. Its non-securities clients include Fortune 500 companies in every industry. CCB has filed claims totaling more than $10 billion for its client base of more than 525 companies. Additional information about CCB is available at www.claimscompensation.com.

About Portfolio Recovery Associates, Inc.
Portfolio Recovery Associates, Inc. (NASDAQ: PRAA), a specialized financial services company, is a market leader in the consumer debt purchase and collection industry. The Company, which has purchased more than $63 billion of face value defaulted consumer debt since its inception, has operations in 10 states, more than 27 million customer accounts and more than 2,500 employees. Portfolio Recovery Associates also provides a broad range of fee-based services through its subsidiaries: PRA Government Services, LLC; MuniServices, LLC; PRA Location Services, LLC; and Claims Compensation Bureau, LLC. Working every day with people in financial distress, the Company seeks to engage collaboratively with its customers to create realistic, affordable repayment plans. Portfolio Recovery Associates has a longstanding culture of compliance, and for five consecutive years has been named to the Forbes 100 Best Small Companies in America annual rankings list (2007 - 2011). Additional information about Portfolio Recovery Associates is available at www.portfoliorecovery.com.