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The New York State Attorney General has placed debt collector Portfolio Recovery Associates, LLC under strict guidelines when attempting to collect debts from state residents. The company, located in Norfolk, VA, has been the subject of thousands of consumer complaints nationwide and has filed 66,000 debt collection actions in New York courts alone between 2007 and 2012. Among the thousands of judgments filed, Portfolio Recovery Associates has filed over 2,000 judgments on time-barred actions between Dec. 2008 and April 2012 and in some instances continued to collect on those judgments despite being time-barred. Under the assurance the state made with Portfolio Recovery Associates, the company can no longer commence or cause to be commenced any lawsuit against a time-barred debt. New York’s statute of limitation’s is six years, however, some contracts, particularly credit card agreements, state that their place of incorporation serves as the location. Many companies incorporate in Delaware, which time-bars de