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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Executive Change: Nelson Peltz Leaves Encore Capital Board of Directors
8 November 2006
Executive Change: Deanna S. Hatmaker and James Christopher Lee to Asset Acceptance
8 November 2006
Executive Change: Joel Lewis to Portfolio Recovery Associates
8 November 2006
Executive Change: Anthony Riggio to Encore Capital Group
8 November 2006
Executive Change: Jeff Shiovitz Promoted at West Asset Management
7 November 2006
Executive Change: Rob Knight Promoted at Asta Funding
7 November 2006
Executive Change: Joshua Chaet Promoted at Resurgence Financial
7 November 2006
Executive Bio: Andy Szemenyei
2 November 2006
Expert Roundtable: Debt Purchasing for Collection Agencies
25 October 2006
Recent Court Cases Create Uncertainty for Collection Agencies
12 September 2006
First Financial Asset Management Acquires $400 Million Debt Portfolio
12 September 2006
Asta Funding Announces Special Large Dividend and Portfolio Purchases
12 September 2006
Merrill Unit Buying $200 mln Indian Loan Portfolio
12 September 2006
Judge Lets Banks Immediately Appeal Distressed Debt Ruling
12 September 2006
D&B Australian Collection Agency is Up for Sale
12 September 2006
Collection Law Firm Named One of State's Fastest Growing for 4th year in a Row
12 September 2006
China Trains Professional Debt Collectors as Bad Loans Mount
12 September 2006
Portfolio Recovery Associates to Present at ThinkEquity Partners LLC 4th Annual Growth Conference
12 September 2006
Top U.S. Companies See $72 Billion In Improved Working Capital
12 September 2006
Franklin Credit Announces Hedge Agreements
12 September 2006