Debt Buying News

Collections & Recovery

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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New York District Court Approves Class Action in FDCPA Case Alleging Improper Debt Assignment Notification

6 September 2023

Nevada Expands Collection Agency Licensing Requirements

5 July 2023

Why Can’t Courts Agree to The Definition Of Debt Collector?

30 May 2023

New Wyoming Bill Requires Licensure for Debt-Buyers

15 March 2023

Credit Eco to Go: Can we Achieve Consistency to the Complex? [Podcast]

3 January 2023

Massachusetts AG Reaches $12 Million Settlement With Consumer Debt Buyer

20 October 2022

CFPB Sues United Holding Group, its Affiliates and Owners; UHG Responds, Denies Allegations

11 January 2022

Think Differently: How to Prepare for Debt Sales

11 November 2021

Credit Eco To Go: Adhering to the Price of Admission

7 September 2021

Utah District Court Finds Petition Clause Bars FDCPA Suit Brought Against Debt Buyer for Filing Collection Suit Without a License

18 August 2021

CA DFPI: Debt Collector License Application Due by Dec. 31, 2021

21 July 2021

Think Differently: How (and why) You Should Integrate Debt Sales into your Strategy

20 July 2021

Mass. Releases Webinar on Examination and Legislation Strategy for Debt Collectors

21 January 2021

A Review of Supreme Court Justice Amy Coney Barrett's Prior FDCPA Court Decisions

27 October 2020

Credit Eco To Go: A State of the ARM Industry Discussion

21 September 2020

CFPB Sues Encore for Issues Related to Collection Litigation and Time-Barred Debts (and the Irony Behind Some of These Claims)

9 September 2020

Colorado Proposed Debt Collection Rule Changes, Stakeholder Meeting Scheduled

13 August 2020

Breakdown of NYC DCA FAQs and Reporting Requirements for New LEP Rule

10 August 2020

How Your Peers are Handling Strategy & Tech Issues, Data Straight from the iAST Polls

22 July 2020

OCC Issues Final Rule to Fix Madden, and Clarify the Validity of the ‘Valid When Made’ Doctrine

3 June 2020