PRA GROUP INC — Capital/Financing Update 2012

Dec 21, 2012

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): December 21, 2012

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Portfolio Recovery Associates, Inc. ______ (Exact name of registrant as specified in its charter)

Delaware	000-50058	75-3078675
___ (State or other jurisdiction	_______ (Commission	__ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
120 Corporate Boulevard, Norfolk, Virginia		23502
_________ (Address of principal executive offices)		_____ (Zip Code)

Registrant’s telephone number, including area code: 888-772-7326

Not Applicable __________ Former name or former address, if changed since last report

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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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.

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Item 9.01 Financial Statements and Exhibits.

(d) Exhibits Exhibit 99.1 Press Release dated December 21, 2012.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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/s/ Kevin P. Stevenson
Name: Kevin P. Stevenson
Title: EVP/CFO

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Exhibit Index

Exhibit No.	Description
99.1	Press release dated December 21, 2012.

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