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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CarVal and West Asset Management Resolve Legal Dispute
25 November 2009
Executive Change: Asset Acceptance Capital Corp. Announces Appointment of New Vice President of Collections
24 November 2009
ARM Industry Trade Groups Weigh in on Debt Buyer Sentencing
24 November 2009
Customer Solutions Online Launches CSO Portfolio Manager, Integrated Scoring and Collection Management System
24 November 2009
Ukrainian ARM Firm Credit Collection Group Announces Large Debt Purchase
23 November 2009
Former Debt Buyer Sentenced to Six Years in Prison for Fraud
17 November 2009
NCO Group Narrows Net Loss to $24 million in Third Quarter
16 November 2009
Settlements, Payment Arrangements Becoming the Norm in ARM Industry
13 November 2009
ARM Firm EOS Group Receives
11 November 2009
Debt Collection Agencies More Optimistic About Future
10 November 2009
Cavalry Portfolio Services Unveils New Online Payment Center
9 November 2009
ACA Defends Self-Regulatory Proposal for Debt Collection Industry
9 November 2009
Greenfish Fund Purchases Another Large Medical Debt Portfolio
6 November 2009
Lowell Group Tops Charts in OC&C Credit Management and Debt Collection Index
6 November 2009
Debt Purchasing Takes Center Stage at ACA International Fall Forum
6 November 2009
ACA International Board Halts Plans for Self Regulation in Collection Industry
5 November 2009
The Receivables Exchange Stands Ready to Assist Small Businesses Searching for Alternative Financing in Wake of CIT Bankruptcy Filing
4 November 2009
Comtech Systems Partners with Service Exchange Network On Debt Collection Process Serving
4 November 2009
Asset Acceptance Reports Net Loss in Third Quarter 2009
3 November 2009
The Receivables Exchange Stands Ready to Fill the Liquidity Gap in CIT Fallout
30 October 2009
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