Debt Buying News RSS Feed

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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Photo of dice with letters forming the words "rules and regulations" [Image by creator anyaberkut from AdobeStock]

Time-Barred Debt SNPRM Comment Clock Starts Ticking

2 March 2020
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Quick FDPCA Stats from the iA Case Law Tracker

27 February 2020
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Whitepaper on Debt Collection Released by the Conference of State Bank Supervisors

13 February 2020
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Mass. AG Enters $4M Settlement with PRA for Allegedly Violating Consumer Protection Laws

11 November 2019
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Three Hot Topics—and Some Partisan Squabbling—Highlighted at Kraninger's Congressional Hearing

17 October 2019
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Court Trebles TCPA Damages Against Debt Collector for Using Skip-Traced Numbers, Awards ~$300k

2 October 2019
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In-Depth Discussion of Hot Topics from House Fin. Servs. Committee Debt Collection Hearing

30 September 2019
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Lively Debt Collection Debate Likely in House Fin. Servs. Committee Hearing Tomorrow

25 September 2019
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CFPB Fines Buffalo-Based Debt Collection Group $60M, Bans Them From Industry

29 July 2019
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RIP Medical Debt Featured Among Game-Changers

2 July 2019
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Why is Now a Great Time to Enter or Expand in Debt-Buying?

13 June 2019
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CFPB Sues Yet Another Collection Firm for Lack of Meaningful Attorney Involvement Despite Promises to End Regulation by Enforcement

21 May 2019
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Credit Report Inquiry Could Be a Third Party Communication That Violates the FDCPA, Says N.D. Ohio

11 April 2019
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11th Circuit: Letter Offering to “Resolve” Out of Stat Account Contains Implicit Threat of Litigation, Requires Out of Stat Disclosure

8 April 2019
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Debt Buyers in N.D. Illinois Beware: Purchase May Not Transfer Right to Collect Post-Charge Off Interest, According to Court

1 April 2019
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Third Circuit Rules Passive Debt Buyers are Debt Collectors, May Be on the Hook for Collection Agency's FDCPA Violations

25 February 2019
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What You May Not Know About The Practice of "Pay-for-Delete"

14 February 2019
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New Texas Debt Buyer Legislation Would Require More Notices, Addresses Legal Actions

13 February 2019
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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
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Encore Enters $6M Settlement Agreement with 42 State AGs, DC AG in Affidavit Robosigning Matter

5 December 2018

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