<SEC-DOCUMENT>0001512305-16-000017.txt : 20160120
<SEC-HEADER>0001512305-16-000017.hdr.sgml : 20160120
<ACCEPTANCE-DATETIME>20160120173246
ACCESSION NUMBER:		0001512305-16-000017
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20160115
FILED AS OF DATE:		20160120
DATE AS OF CHANGE:		20160120

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRA GROUP INC
		CENTRAL INDEX KEY:			0001185348
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-CONSUMER CREDIT REPORTING, COLLECTION AGENCIES [7320]
		IRS NUMBER:				753078675
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		120 CORPORATE BLVD STE 100
		CITY:			NORFOLK
		STATE:			VA
		ZIP:			23502
		BUSINESS PHONE:		7575199300X3003

	MAIL ADDRESS:	
		STREET 1:		120 CORPORATE BLVD STE 100
		CITY:			NORFOLK
		STATE:			VA
		ZIP:			23502

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PORTFOLIO RECOVERY ASSOCIATES INC
		DATE OF NAME CHANGE:	20020903

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Stern Neal
		CENTRAL INDEX KEY:			0001512305

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-50058
		FILM NUMBER:		161351902

	MAIL ADDRESS:	
		STREET 1:		120 CORPORATE BLVD
		CITY:			NORFOLK
		STATE:			VA
		ZIP:			23502
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wf-form4_145332915566231.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2016-01-15</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001185348</issuerCik>
        <issuerName>PRA GROUP INC</issuerName>
        <issuerTradingSymbol>PRAA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001512305</rptOwnerCik>
            <rptOwnerName>Stern Neal</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>120 CORPORATE BLVD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NORFOLK</rptOwnerCity>
            <rptOwnerState>VA</rptOwnerState>
            <rptOwnerZipCode>23502</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>EVP- Operations</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2016-01-15</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5751</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>52068</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">These shares were granted pursuant to the Company's 2016 Long Term Equity Incentive Plan in which the reporting person was granted both performance based and time vested restricted shares. The time vested shares vest ratably over a three year period beginning on the anniversary of the grant which was January 15, 2016. These shares represent the total time vested shares granted. The performance shares earned, if any, will be reported at the end of the performance period.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Neal H. Stern</signatureName>
        <signatureDate>2016-01-20</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
