Dear Editor, The Wall Street Journal,

Portfolio Recovery Associates Inc., a Norfolk, Va.-based debt buyer and accounts receivable management company, Monday announced an expansion of its credit facility to $407.5 million from $365 million.

Only two of the 2,150 U.S. credit unions with credit card receivables of $1 million or more sold portfolios during the third quarter ended Sept. 30, as many buyers still remain wary about overall credit union health, according to AssetExchange, a Portland, Ore.-based credit union card broker.

Intrum Justitia, a European credit management services company, has acquired Nice Invest Nordic AB, a Sweden-based debt-buying firm for a total price of approximately $42.5 million. The acquisition includes an existing portfolio and an agreement covering forward-flow debt purchasing contracts.

The Cogsville Group LLC, a private equity firm, and Colony Capital LLC purchased from the Federal Deposit Insurance Corporation (FDIC) two portfolios of more than 700 commercial real estate loans. The two portfolios have an aggregate unpaid principal balance of approximately $341 million.

Debt buyer Portfolio Recovery Associates' shares reached a 52-week high on Friday, with stock trading as high as $76.80. The stock previously had closed at $74.20. At mid-day on Monday, the stock was trading at $76.17.

Asta Funding Inc., a publicly owned debt buyer, Tuesday reported net income of $3.1 million for the fiscal year ended Sept. 30, compared to a net loss of $90.7 million during fiscal year 2009.

Portfolio Recovery Associates (PRA) Inc., continues a tradition of giving back to communities across the nation by donating more than $400,000 to date in 2010. Since 2004, PRA has given more than $1.2 million to philanthropic endeavors.

TransUnion, a Chicago-based credit reporting agency, has received a business license to establish operation in Vietnam.

NCO Financial Systems Inc. revealed in a filing late Thursday with the Virginia Employment Commission that it plans to lay off 368 employees permanently next year at a call center in Hampton, Va. The cutbacks will not take effect until December 2011.

Greg Ousley wants to be a chaperone of sorts for the secondary mortgage market.

Media Receivable Management (MRM) Inc., based in Miami, announced Monday it has completed a deal to take over the collection operations at Borden, Jones & Mitchell. The deal was finalized on Nov. 17. Terms were not disclosed.

DBA International has named Thomas M. Bohn as its new executive director following a nationwide search, the debt-buying industry association's board of directors announced Monday.

Ken Rapp, president and CEO at I.C. System for the past 10 years, has announced his retirement.

H.I.G. Capital, a global private equity investment firm, announced that its portfolio firm, National Asset Recovery Services Inc., acquired Pinnacle Financial Group, a third-party debt collection company, according to a news release.

The fourth quarter is often a time when banks try to tidy up their balance sheets for the coming year. As they step up efforts to sell problem loans, this quarter could be the big flush.

Portfolio Recovery Associates (PRA) Inc., a Norfolk, Va.-based debt buyer, announced that it recently was honored with the Inside Business Roaring 20 Award for business excellence and community involvement.

VION Receivable Investments (VION) has announced an agreement to provide a multimillion-dollar financing facility for the consumer lease program of Sparta Commercial Services Inc. (OTC BB: SRCO).