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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Portfolio Recovery Associates Reports Fourth Quarter and Full Year 2006 Results
15 February 2007
Asta Funding Reports Higher Revenues and Income in Quarter
12 February 2007
Asta Funding to Buy $6.9 billion Debt Portfolio
12 February 2007
ACF Medical Services Announces $115 million Medical Debt Portfolio Purchase
9 February 2007
International Credit Services Acquires DebtOutlet.com
7 February 2007
FirstCity Financial Provides Update on ILC Initiative
5 February 2007
FTC Moves to Shut Down Debt Collection Agency
5 February 2007
The Sagres Company Announces 31% Increase in 2006 Revenue
2 February 2007
Kaulkin Ginsberg Expands Services to Address Burgeoning Debt Buying Market
2 February 2007
Debt Resolve Joins Fair Isaac's ScoreNet Network
31 January 2007
Executive Change: Michael Taulbee Promoted at Houston Funding
30 January 2007
Executive Change: Aaron Hadam Promoted at National Loan Exchange
30 January 2007
TNB Balance Transfer Promotion Nets $2.2 million
29 January 2007
State Attorney General Goes After Debt Purchaser Arrow
29 January 2007
Executive Change: John C. Reid Promoted at Hudson & Keyse
26 January 2007
Asta Funding Board Votes to Raise their Own Pay
26 January 2007
Asset Acceptance Amends Code of Conduct for Officers
23 January 2007
Debt Resolve Acquires Collection Agency First Performance Corp
23 January 2007
TNB Purchased 21 Credit Union Card Portfolios in 2006
22 January 2007
ARM Industry Vets Launch New Public Debt Purchaser
22 January 2007