Industry & Services >> CEO Interviews >> April 1, 2003

Steven Frederickson – Portfolio Recovery Associates Inc (praa)

STEVEN D. FREDRICKSON is President, Chief Executive Officer and Chairman of the Board of Portfolio Recovery Associates, Inc. Prior to co-founding Portfolio Recovery Associates in 1996, Mr. Fredrickson was Vice President, Director of Household Recovery Services' Portfolio Services Group from late 1993 until February 1996. At HRSC Mr. Fredrickson was ultimately responsible for HRSC's portfolio sale and purchase programs, finance and accounting, as well as other functional areas. Prior to joining HRSC, he spent five years with Household Commercial Financial Services, managing a national commercial real estate workout team, and five years with Continental Bank of Chicago as a member of the FDIC workout department, specializing in corporate and real estate workouts. He received a BS degree from the University of Denver and an MBA degree from the University of Illinois. He is a past Board member of the American Asset Buyers Association. Profile
TWST: Would you begin with a capsule summary of Portfolio

Recovery Associates?

Mr. Fredrickson: We are in the business of purchasing, collecting

and managing portfolios of defaulted consumer