Should I Pay my PRA Group UK Limited Debt? Know Your Rights

Did you get a letter from PRA? Are you wondering who they are? More importantly, are you asking, ‘should I pay my PRA Group UK Limited debt’ or not?

I explain who the debt collectors are and why they’d contact you. I then go on to offer some advice on how to deal with a PRA Group UK Limited debt in this post!

Do you have to pay PRA Group UK Limited?

You might not have to pay PRA Group UK Limited.

If you genuinely can’t afford your debt repayments then looking into whether you could have your written off might be just what you need. 

If you want to find out whether you qualify for having debt written off or payments lowered then fill out the short form below.

First, who is PRA Group UK Limited?

PRA Group UK Limited is one of the large debt collection agencies in the UK. The company makes money by buying debts at a cut price and then chasing debtors for payment!

PRA’s profit margins are huge with an annual turnover of about £100 million!

The UK PRA Group is a subsidiary of the American PRA Group Inc. The UK side of the business also goes by the name Aktiv Kapital UK.

According to PRA Group UK, the debt collection agency never adds interest to debts they collect and offers affordable repayment plans to debtors.

Is PRA Group legit?

Yes, PRA Group is legit and a member of the Credit Services Association Ltd (CSA). As such, the debt collection agency is regulated by the Financial Conduct Authority (FCA).

Can you lower your repayments?

If you’re struggling to pay back your debt, then you might qualify for a debt solution.

Some solutions lower your monthly payments while others write off a portion of your debt. 

To find out whether they could work in your situation, hit the button below.

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Who uses PRA Group UK Limited services?

PRA Group doesn’t have a client base as such because they purchase third-party debts. For example, PRA buys debts from major banks and other loan providers in the UK.

When you owe money on a credit card, or you default on a loan, the provider could sell the debt to PRA. So, in short, you then owe the money to the debt collection agency rather than the original provider/creditor.

Why would PRA Group UK Limited contact you?

As mentioned, if you default on a loan or you owe money on a credit card and failed to pay, PRA could buy the loan from the provider. If this happens, the debt collection agency contacts you directly for payment.

Can you ignore a debt letter from PRA Group?

No. It’s never a good move to ignore a letter about a debt from PRA Group for several reasons.

I’ve listed some here:

• Maybe the debt is not yours and belongs to someone else
• You paid off the debt
• The debt is statute-barred and can’t be enforced

Moreover, when you ignore the correspondence, things can quickly escalate and suddenly you owe a lot more money.

Plus, you could end up with a CCJ on your credit history!

How do you know the debt is yours?

Ask PRA Group to prove the debt is yours by requesting a ‘prove it’ letter. This could be in the form of the credit agreement you entered into with the original provider. 

It’s a wise move because it not only gains you a little time, but it can also reassure you that the ‘debt’ is truly yours!

Is the PRA Group debt statute-barred?

You may find the debt PRA Group is chasing you for is statute-barred. What does this mean? It means the debt is over six years old and therefore unenforceable!

The courts won’t consider a debt that’s over 6 years old, so you can’t be chased for it! However, although a debt is statute-barred, it doesn’t mean it goes away. The debt could still negatively impact your credit score.

Check out what happened to one person who got a letter from PRA for a debt dating back to 2012!

Money Saving Expert

Will PRA Group Take You to Court?

Yes. You risk being taken to court by PRA Group if you do any of the following:

• Ignore the correspondence PRA sends you
• Refuse to pay the debt
• Don’t agree to an offered repayment plan

You’d have to attend a court hearing and if you don’t, PRA Group could ask the judge to register a County Court Judgement (CCJ) against you!

Why is PRA Group on my credit file?

A record of a PRA Group debt on your credit file is registered when you haven’t settled a debt they hold. Maybe, you ignored PRA’s correspondence, or you didn’t attend a court hearing.

The result? A CCJ is registered on your credit history making it hard or impossible to get a loan, credit card or mortgage!

What happens if I don’t pay PRA Group?

When you don’t pay PRA Group the amount you owe, the debt collection agency could take you to court. Things get messy if you continue to disregard correspondence or you refuse to attend court.

The amount you owe could increase thanks to court costs and fees!

Can PRA Group send bailiffs?

When you don’t respond to a County Court Judgement issued by the courts, you could end up with Enforcement Agents (bailiffs) contacting you. They could pay you a visit at home and have the power to seize your possessions!

The items are sold at auction to repay the debt owed or your earnings could get a lean on them amongst other things!

What regulations does PRA Group UK have to follow?

As a debt collection company, PRA Group UK Ltd is regulated and must follow the law. That said, not all do and if you’re not sure about your rights, a debt collector may use unethical tactics. This is an offence on their part!

So, what are the rules that PRA Group must follow? I’ve listed them here:

• Allow you enough time to seek debt advice so you can realistically assess your options
• Respect a request to only contact you at specific times and by specific means. To achieve this, write a letter to PRA detailing when and how you’d want to be contacted. Send the letter registered post!
• Debt collectors can’t infer they are enforcement agents (bailiffs) which is a criminal offence!
• Discuss your debt discreetly and politely with you
• Use deceptive tactics to trick you into signing an agreement
• Discuss your debt with other people. For example, with your family, friends, neighbours, employers etc which breaches your privacy

You have the right to file a complaint with PRA’s head office when a debt collector uses unethical tactics when contacting you. That said, you can escalate the complaint to the Financial Ombudsman if you don’t get a response or it’s unsatisfactory.

How do you contact PRA Group Debt Recovery?

If you need to contact PRA Group Debt Recovery about recent correspondence, you can do so in the following ways:

Is there any free debt advice?

Yes. When you need advice about debts, you can contact StepChange, or the National Debtline. Both debt charities can provide invaluable advice on how best to get on top of your finances to achieve a positive outcome!

“It will only get worse” 😩

It’s cliché to say, but with debt it’s true; the longer you leave it, the worse the problem gets. 

There are straightforward and effective ways to deal with debt, but you have to know your options. 

Fill out the short form to find out about the debt solutions that could reduce your monthly payments or even write off some of your debt.

Get Started

Lastly, should I pay my PRA Group Limited debt or not?

You might have to pay your PRA Group Limited debt if the company ‘proved’ it is yours! The first thing to do when you get any correspondence from them is to ask for a “prove the debt” letter.

Next, seek advice from an independent debt charity before signing, paying or agreeing to anything!

It’s the best route to a positive outcome when PRA Group can prove you owe the money!

Thanks for reading this post. I hope I’ve answered your question, ‘should I pay my PRA Group UK Limited debt or not?