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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Time-Barred Debt SNPRM Comment Clock Starts Ticking
2 March 2020
Quick FDPCA Stats from the iA Case Law Tracker
27 February 2020
Whitepaper on Debt Collection Released by the Conference of State Bank Supervisors
13 February 2020
Mass. AG Enters $4M Settlement with PRA for Allegedly Violating Consumer Protection Laws
11 November 2019
Three Hot Topics—and Some Partisan Squabbling—Highlighted at Kraninger's Congressional Hearing
17 October 2019
Court Trebles TCPA Damages Against Debt Collector for Using Skip-Traced Numbers, Awards ~$300k
2 October 2019
In-Depth Discussion of Hot Topics from House Fin. Servs. Committee Debt Collection Hearing
30 September 2019
Lively Debt Collection Debate Likely in House Fin. Servs. Committee Hearing Tomorrow
25 September 2019
CFPB Fines Buffalo-Based Debt Collection Group $60M, Bans Them From Industry
29 July 2019
RIP Medical Debt Featured Among Game-Changers
2 July 2019
Why is Now a Great Time to Enter or Expand in Debt-Buying?
13 June 2019
CFPB Sues Yet Another Collection Firm for Lack of Meaningful Attorney Involvement Despite Promises to End Regulation by Enforcement
21 May 2019
Credit Report Inquiry Could Be a Third Party Communication That Violates the FDCPA, Says N.D. Ohio
11 April 2019
11th Circuit: Letter Offering to “Resolve” Out of Stat Account Contains Implicit Threat of Litigation, Requires Out of Stat Disclosure
8 April 2019
Debt Buyers in N.D. Illinois Beware: Purchase May Not Transfer Right to Collect Post-Charge Off Interest, According to Court
1 April 2019
Third Circuit Rules Passive Debt Buyers are Debt Collectors, May Be on the Hook for Collection Agency's FDCPA Violations
25 February 2019
What You May Not Know About The Practice of "Pay-for-Delete"
14 February 2019
New Texas Debt Buyer Legislation Would Require More Notices, Addresses Legal Actions
13 February 2019
A Healthy Resale Market Is Vital To Our Industry – And We Need to Educate the CFPB’s New Leadership on This Important Issue
24 January 2019
Encore Enters $6M Settlement Agreement with 42 State AGs, DC AG in Affidavit Robosigning Matter
5 December 2018