Item 8.01 Other Events.

On December 21, 2012, Portfolio Recovery Associates, Inc. (the "Company"), through its wholly owned subsidiaries, Portfolio Recovery Associates, LLC and PRA Receivables Management, LLC, purchased certain assets from National Capital Management, LLC and its affiliates (NCM) for $115.3 million. The assets include secured and unsecured consumer bankruptcy accounts and operating assets associated with the underwriting and collection of secured bankruptcy claims, including the hiring of certain NCM employees.

A copy of the Company's press release announcing the purchase is furnished with this Current Report as Exhibit 99.1 and is incorporated herein by reference. Pursuant to the rules and regulations of the Securities and Exchange Commission, such exhibit and the information set forth therein is deemed to have been furnished and shall not be deemed to be "filed" under the Securities Exchange Act of 1934, as amended.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit 99.1 Press Release dated December 21, 2012.

---

Top of the Form