Exhibit 21.1

SUBSIDIARIES OF THE REGISTRANT (a)

Subsidiaries of the Registrant and Jurisdiction of Incorporation or Organization:

Portfolio Recovery Associates, LLC - Delaware

PRA Receivables Management, LLC - Virginia

PRA Holding IV, LLC - Virginia

PRA Holding V, LLC - Virginia

Claims Compensation Bureau, LLC - Delaware

PRA Group Canada Inc. - Canada

PRA Group RM Israel. Ltd. - Israel

PRA Group Europe Holding III S.á r.l. - Luxembourg

PRA Group Europe Holding II S.á r.l - Luxembourg

PRA Group Europe Holding I S.á r.l. - Luxembourg

PRA Group Europe Holding S.á r.l. - Luxembourg

PRA Group (UK) Limited - United Kingdom (England and Wales)

PRA Group (UK) Portfolios Limited - United Kingdom (England and Wales)

PRA Group Österreich Inkasso GmbH - Austria

PRA Group Österreich Portfolio GmbH - Austria

PRA Group Sverige AB - Sweden

PRA Group Europe Holding S.á r.l., Luxembourg, Zweigniederlassung Zug Branch - Switzerland

PRA Group Europe Finance S.a.r.l. - Luxembourg

PRA Suomi OY - Finland

PRA Group Deutschland GmbH - Germany

PRA Group Europe AS - Norway

PRA Iberia, S.L.U. - Spain

PRA Group Norge AS - Norway

PRA Group Europe Portfolio AS - Norway

PRA Group Europe Portfolio AS, Oslo, Zug Branch - Switzerland

PRA Group Switzerland Portfolio AG - Switzerland

AK Nordic NUF - Norway

AK Nordic AB - Sweden

RCB Investimentos S.A. - Brazil

Itapeva Recuperação de Créditos LTDA. - Brazil

DivZero Recuperação de Créditos LTDA - Brazil

RCB Portfolios LTDA. - Brazil

PRA Group Colombia Holding S.A.S. - Colombia

PRA Group Polska Sub-Holding sp. z o.o. - Poland

PRA Group Polska sp. zoo - Poland

PRA Group Kancelaria Radcow Prawnych Wilmek I Wspolnicy S.K.A. - Poland

PRA Group Brasil - Empreedimentos e Participações LTDA - Brazil

PRA Group Polska Holding sp. zoo - Poland

PRA Australia Pty Ltd - Australia

PRA Group TFI, S.A. - Poland

Horyzont NSD CEIF - Poland

(a) Inactive subsidiaries and subsidiaries with minimal operations have been omitted. Such subsidiaries, if taken as a whole, would not constitute a significant subsidiary.