Why did Portfolio Recovery Associates file a lawsuit against me?
Portfolio Recovery Associates is a debt buyer. Portfolio Recovery Associates sues consumers that default on balances that they purchased for pennies on the dollar. They make money by collecting more than they paid for the debt. They are counting on the fact that you will not respond or show up to court. If you do not then they may take a Default Judgment against you. In Louisiana, a judgment can be aggressively collected for ten (10) years and even longer if they keep renewing the judgment. This gives Portfolio Recovery Associates a long time in which to come after you. Many consumers think that a judgment is just a worthless piece of paper. They think that they can not be forced to pay in Louisiana. They are wrong.
What are my options when being sued by Portfolio Recovery Associates?