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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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Credit Derivatives Brokerages Set to Merge

12 September 2006

First Guardian Financial Establishes Debt Purchasing/Collection Unit

12 September 2006

SBCP Offers Free Disaster Plan Help to FMS Bidders

12 September 2006

Tate & Kirlin Named Collection Agency of the Year for Genesis Financial

12 September 2006

NCO Group Acquires Majority Stake in Australian Collection Agency

12 September 2006

Account Portfolio Management, LLC Receives $10 million Financing Facility to Purchase Debt

12 September 2006

Collection Law Firm Opens Office in Texas

12 September 2006

Citigroup Completes Final Phase of Acquisition of Federated Department Stores Credit Card Portfolio

12 September 2006

Industry Veterans Launch New Agency Model

12 September 2006

New Debt Purchaser/Collector Hopes to Bring 1,100 Jobs to Arizona

12 September 2006

UK Collection Agency Sell Outsourcing Division for $52 Million

12 September 2006

Baycorp Could Return $120m on Sale of Debt Collection Arm

12 September 2006

Portfolio Recovery Associates Creates New Utility Division Head Position

12 September 2006

Asta Funding Gets an Analyst Rating with a Word of Caution

12 September 2006

Encore Capital Announces Plan to Explore Possible Sale or Going Private

12 September 2006

'Buyers' Give Old Debts New Life

12 September 2006

ABN AMRO, GE Real Estate Buy UCI's Bad Loans

12 September 2006

Asta Funding Reports Rise in Revenue and Income

12 September 2006

Asset Acceptance Reschedules Earnings Release; Reveals Preliminary Impairment Figures

12 September 2006

Asset Acceptance to Acquire Medical Debt Purchaser PARC

12 September 2006

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