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: July      27, 2004

(Date of earliest event reported)




Portfolio Recovery Associates, Inc.

(Exact name of registrant as specified in its charter)



VA

(State or other jurisdiction of incorporation)


 


000-50058

(Commission File Number)


 


75-3078675

(IRS Employer Indentification Number)




 


120 Corporate Boulevard

(Address of principal executive offices)


23502

(Zip Code)


 




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






Item 5. Other Events and Regulation FD Disclosure



On July 27, 2004, Portfolio Recovery Associates announced the addition of a new board member to be effective August 1, 2004.

Item 7. Financial Statements and Exhibits

(c) Exhibits

99.1       Press Release of Portfolio Recovery Associates, Inc. dated July      27, 2004



SIGNATURE

      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.






Dated: July      27, 2004



PORTFOLIO RECOVERY ASSOCIATES, INC.

By:  /s/ Steve Fredrickson                      

     Steve Fredrickson

     President, Chairman and CEO