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 Derivatives Brokerages Set to Merge
12 September 2006
First Guardian Financial Establishes Debt Purchasing/Collection Unit
12 September 2006
SBCP Offers Free Disaster Plan Help to FMS Bidders
12 September 2006
Tate & Kirlin Named Collection Agency of the Year for Genesis Financial
12 September 2006
NCO Group Acquires Majority Stake in Australian Collection Agency
12 September 2006
Account Portfolio Management, LLC Receives $10 million Financing Facility to Purchase Debt
12 September 2006
Collection Law Firm Opens Office in Texas
12 September 2006
Citigroup Completes Final Phase of Acquisition of Federated Department Stores Credit Card Portfolio
12 September 2006
Industry Veterans Launch New Agency Model
12 September 2006
New Debt Purchaser/Collector Hopes to Bring 1,100 Jobs to Arizona
12 September 2006
UK Collection Agency Sell Outsourcing Division for $52 Million
12 September 2006
Baycorp Could Return $120m on Sale of Debt Collection Arm
12 September 2006
Portfolio Recovery Associates Creates New Utility Division Head Position
12 September 2006
Asta Funding Gets an Analyst Rating with a Word of Caution
12 September 2006
Encore Capital Announces Plan to Explore Possible Sale or Going Private
12 September 2006
'Buyers' Give Old Debts New Life
12 September 2006
ABN AMRO, GE Real Estate Buy UCI's Bad Loans
12 September 2006
Asta Funding Reports Rise in Revenue and Income
12 September 2006
Asset Acceptance Reschedules Earnings Release; Reveals Preliminary Impairment Figures
12 September 2006
Asset Acceptance to Acquire Medical Debt Purchaser PARC
12 September 2006