If your account is with PRA it is important you take the steps to resolve your outstanding account as quickly as possible as there are several benefits to having a paid account.
Benefits of a paid account can include:
- No longer receiving collection calls or letters
- Having your credit report updated (if applicable)
- Receiving a letter indicating your account has been satisfied
- You may qualify for better rates for your financing needs
- May improve your credit health and ability to obtain financing such as credit cards, line of credit, mortgage, etc.
Refusal to pay your account with PRA Group Canada or failure to respond to communications from PRA Group Canada may ultimately lead to legal action being taken against you. If this occurs, you may be subject to wage garnishment, as well as other legal remedies available in the event a judgment is secured. In addition to the balance you owe, you would also be subject, if awarded by the court, to paying all court costs as well as pre and post-judgment interest.
PRA is committed to working with you to find a solution that fits your budget.