Non-confidential Settlement Offer to PRA (a Wholly Owned Subsidiary of PRA Group, Inc.)

I am quite upset right now because I am thinking about that awful week leading up to March 16, 2020. The stock market crashed and I was heavily invested.

The reason I am thinking about this horrible time is because of my research into PRA. I see that on May 9, 2023 the value of PRA Group, Inc. stock fell over 30%. 

Apparently it is getting harder for PRA to bluff and bully people into forking over money that PRA has no credible evidence is owed.

I am thrilled that the CFPB prevailed in the lawsuit filed March 23, 2023 against PRA.

I am angry that PRA Group, Inc. executives got paid several million dollars each while the publicly traded company was poised to lose money.

I am concerned that PRA will use the entire $2.6 billion dollars of credit extended to it, a good portion by Bank of America, and then file for bankruptcy. Not only has an attorney representing PRA, Mr. James Trefil, filed for bankruptcy, but the parent company has subsidiaries that service consumer bankruptcy accounts in the USA. PRA is certainly not adverse to using that tool to avoid paying its debts.

Besides that I would need to learn to navigate the bankruptcy court as a creditor, by the time we go through appeals to SCOTUS, I don’t know that I can still collect even a part of the jury verdict that I anticipate.

I am therefore willing to settle for $1,000,000.

This offer is good until June 15, 2023.

Sincerely,

Laura Hammett

Email: bohemian_books@yahoo.com