A debt buyer is a firm that purchases debt from another company, usually a creditor or bank, at a deeply discounted rate. The debt purchaser then attempts to collect the debt through its own operations or through the use of a third-party debt collection agency. Some debt buyers may sell all or part of the debt to another party at a profit. Most debt buyers are small and privately held, though there is a handful of publicly traded debt buying companies. Recent changes in law and legal rulings have seen the debt buying industry regulated like collection agencies, or servicers of debt, rather than creditors, or owners of the debt. Debt buyers must adhere to the FDCPA.
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Credit Eco to Go: Can we Achieve Consistency to the Complex? [Podcast]
3 January 2023
Massachusetts AG Reaches $12 Million Settlement With Consumer Debt Buyer
20 October 2022
CFPB Sues United Holding Group, its Affiliates and Owners; UHG Responds, Denies Allegations
11 January 2022
Think Differently: How to Prepare for Debt Sales
11 November 2021
Credit Eco To Go: Adhering to the Price of Admission
7 September 2021
Utah District Court Finds Petition Clause Bars FDCPA Suit Brought Against Debt Buyer for Filing Collection Suit Without a License
18 August 2021
CA DFPI: Debt Collector License Application Due by Dec. 31, 2021
21 July 2021
Think Differently: How (and why) You Should Integrate Debt Sales into your Strategy
20 July 2021
Mass. Releases Webinar on Examination and Legislation Strategy for Debt Collectors
21 January 2021
A Review of Supreme Court Justice Amy Coney Barrett's Prior FDCPA Court Decisions
27 October 2020
Credit Eco To Go: A State of the ARM Industry Discussion
21 September 2020
CFPB Sues Encore for Issues Related to Collection Litigation and Time-Barred Debts (and the Irony Behind Some of These Claims)
9 September 2020
Colorado Proposed Debt Collection Rule Changes, Stakeholder Meeting Scheduled
13 August 2020
Breakdown of NYC DCA FAQs and Reporting Requirements for New LEP Rule
10 August 2020
How Your Peers are Handling Strategy & Tech Issues, Data Straight from the iAST Polls
22 July 2020
OCC Issues Final Rule to Fix Madden, and Clarify the Validity of the ‘Valid When Made’ Doctrine
3 June 2020
Building Spring Oaks Capital During a Pandemic: A Conversation with Marcelo Aita
28 April 2020
Moral of the Story: Web Payment Portals Need Time-Barred Debt Disclosures if Applicable
28 April 2020
Washington State Enacts Legislation Targeting Consumer Debt Purchasers
27 April 2020
Massachusetts Releases FAQs About Its COVID-19 Guidance
6 April 2020