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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2008 M&A Activity in the Debt Collection Industry on Target to Exceed 2007 Results
9 July 2008
Collection Industry Analysts Slightly Bearish on Second Half Economy
9 July 2008
Asset Acceptance Shares Slide on Analyst Downgrade
9 July 2008
Executive Change: Lowell Group Appoints Bob Collins Director of Compliance
8 July 2008
Encore Capital Expands Credit Facility to $335 million, Adds Three Lenders
8 July 2008
Executive Change: AHC Names Patrick Lutz as President
7 July 2008
Intrum Justitia's Norwegian Subsidiary Regains Collection License
1 July 2008
Executive Change: David Laman Named President of Allied Data Corporation
30 June 2008
Security Holdings Sells its Security Check Collections Division
27 June 2008
The Moore Law Group to Acquire the Collection Department of Bidna & Keys
26 June 2008
US House Passes Gramm-Leach-Bliley Relief for Debt Buyers
26 June 2008
Portfolio Recovery Associates to Acquire Government Collector for $29 million
25 June 2008
TNB Card Services Adds $4 Million in Card Balances from Credit Union Card Portfolios
24 June 2008
ARGYLE Solutions and Equicare Capital to Merge Brands
24 June 2008
Executive Change: Atlantic Credit & Finance Names John Harvey as Chief Information Officer
20 June 2008
Portfolio Recovery Fee for Service Business Thriving Despite Anchor Loss
20 June 2008
Portfolio Recovery Associates to Present at William Blair Growth Stock Conference
18 June 2008
Intrum Justitia Completes 250,000 Share Repurchase
16 June 2008
VantageILM to Integrate Global Debt Network's Automotive Portfolio Platform
16 June 2008
Leveraging Analytics to Prioritize Collections Efforts and Increase Return on Investment
13 June 2008