SOURCE: Portfolio Recovery Associates

Portfolio Recovery Associates

December 09, 2010 13:57 ET

Portfolio Recovery Associates Continues Tradition of Giving; Revenue Discovery Systems and Birmingham Operations Center Donate Time and Resources

BIRMINGHAM, AL--(Marketwire - December 9, 2010) - As the holidays approach, Portfolio Recovery Associates, Inc. (NASDAQ: PRAA) operations center in Birmingham and subsidiary Revenue Discovery Systems (RDS) collaborated in 2010 to support a number of regional charitable organizations.

Revenue Discovery Systems, a wholly-owned subsidiary of Portfolio Recovery Associates (PRA), and PRA's Birmingham Regional Office donated more than $24,000 to 16 local organizations throughout the past year, including the McWane Science Center, Girls Incorporated of Central Alabama, Magic City Harvest and other local food pantries, Impact Alabama, and the YWCA.

"We are pleased to be able to use our resources to assist the community," said Kennon Walthall, president of RDS. "Our company endeavors to be a good corporate citizen, not just in terms of monetary giving, but our time and talents, as well."

Comprised of PRA's Norfolk, Va. headquarters, call center sites and subsidiary locations, PRA has a presence in Virginia, Pennsylvania, Nevada, California, Alabama, Kansas, Tennessee, Illinois, Texas and New Jersey. Since 2006, PRA has had a presence in Birmingham.

PRA company and employee philanthropic efforts involve non-profit organizations across the United States with a focus on groups specializing in education, the arts, civic and environmental concerns, human services and health. Within these pillars, PRA's charitable giving is extensive and represents partnerships with large and small organizations.

RDS and PRA's Birmingham Regional Office additionally contributed to Kid One Transport, Pathways Home in Birmingham, Magic Moments, First Priority of Alabama, and Community Kitchens in Birmingham.

Remaining philanthropic efforts for 2010 include supporting the March of Dimes "Blue Jeans for Babies" program with a donation, purchasing needed items for a local food pantry, First Light Shelter and Pathways Home, donating turkeys to support Community Kitchens, and purchasing toys for needy children through Merry Christmas Birmingham and the Tarrant Fire Department.

Since 2004, PRA and its subsidiaries, located in ten states across the U.S., have donated more than $1.2 million in philanthropic contributions to a wide range of non-profit organizations and charitable causes. In addition, PRA executives actively serve in leadership roles on a variety of boards and committees throughout the country.

For the fourth consecutive year, Portfolio Recovery Associates has been named to the Forbes "100 Best Small Companies in America" annual rankings list, as announced in the Nov. 8, 2010, edition of the business magazine. PRA is ranked 56 among the top 100 small businesses listed.

About RDS:
Based in Birmingham, Ala., RDS is a government services company providing revenue enhancement support services to state and local government in the areas of tax administration, revenue discovery & recovery, and compliance audit examination.

Each year, RDS processes billions of dollars in business taxes, licenses and fees and has simultaneously discovered and recovered millions in unpaid revenues. For 30 years, RDS has been committed to delivering government solutions based on outstanding value, competitive pricing, exceptional customer service and compliance with the highest professional standards. RDS currently provides tax administration services for more than 450 state and local government clients and manages 700+ professional service contracts.

About Portfolio Recovery Associates, Inc.
Portfolio Recovery Associates, Inc. (PRA) is the parent of companies whose business revolves around the detection, collection, and processing of both unpaid and normal-course receivables originally owed to credit grantors, governments, retailers and others. PRA's primary business is the purchase, collection and management of portfolios of defaulted consumer receivables. These are the unpaid obligations of individuals to credit originators, which include banks, credit unions, consumer and auto finance companies, and retail merchants. Subsidiaries of PRA also provide fee-based services, including collateral-location services for credit originators via its IGS subsidiary, revenue administration, audit and debt discovery/recovery services for government entities through both its RDS and MuniServices businesses and class action claims recovery services and related payment processing through its CCB subsidiary.