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Portfolio Recovery Associates Buys Consumer Bankruptcy Claims for $115.3M

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Portfolio Recovery Associates, Inc. (Nasdaq: PRAA), a financial and business services company, today announced a $115.3 million acquisition of certain assets from National Capital Management, LLC (NCM). These assets include secured and unsecured consumer bankruptcy accounts and operating assets associated with the underwriting and collection of secured bankruptcy claims. The transaction also includes the hiring of certain NCM employees.

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