October 23, 2023  

I couldn’t make this up.

https://finance.yahoo.com/quote/PRAA?p=PRAA&.tsrc=fin-srch
PRA Group, Inc. has an income stream from purchasing and collecting on nonperforming loan accounts where the customer is involved in a bankruptcy, according to its 2023 proxy statement.

I wonder if PRA can use some of the $2.6 billion credit it can borrow to buy back its own debt owed for pennies on the dollar. We owe you a billion bucks? We’ll buy the debt for $60,000,000 with $60,000,000 borrowed funds. Then we’ll pay ourselves back half the face value of the debt, $500,000,000, also with borrowed funds.

That gives us a $440,000,000 profit, if no one looks too closely.

Easy peazy, our PRAA stock price should surge right back up to $43.

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About LauraLynnHammett

Regular people like you and I should have access to justice, even if we can't afford an attorney. Judges must stop their cronyism. Attorneys who use abusive tactics against pro se litigants should be disbarred. This site discusses some of the abuses by our legal professionals. It also gives media attention to cases that are fought and sometimes won by the self represented.

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