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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State AG Proposes New Debt Collection Legislation
1 October 2014
Nationwide Credit Bureaus Launch New Training System to Support Data Furnisher Accuracy
29 September 2014
Best Places to Work in Collections 2014 Winners Announced
29 September 2014
NARCA Submits Response to CFPB Consumer Narrative Proposal
26 September 2014
Congressman Lacy Clay Visits ACA's D.C. Office for Campaign Fundraiser
26 September 2014
Arrow Global to Acquire Rival UK Debt Buyer Capquest for $258 million
25 September 2014
CAI Begins Campaign for Vets as ARMing Heroes Tells Story of Purple Heart Grant Recipient
25 September 2014
ARM Buyers are Looking Beyond Profits when Establishing Pricing
24 September 2014
ACA Submits Comments Opposing CFPB Proposal to Include Consumer Complaint Narratives in Public Database
23 September 2014
Fast Tracks for ARM Executives
19 September 2014
DBA International to Host Webinar on Due Diligence Process for Debt Buyers
19 September 2014
CFPB and FTC Launch Actions Against Different Payday Lenders; Debt Sales Implicated
18 September 2014
ARM Firms Jumpstart Campaign for Veterans
18 September 2014
CFPB Sues For-Profit College for FDCPA Violations and Predatory Loan Program
17 September 2014
New Rules for Debt Collection Suits Finalized in New York Courts
17 September 2014
Arkansas Supreme Court: Out-of-State Debt Buyers Must be Licensed
15 September 2014
ARMing Heroes Announces Donor Dog Tags Promo with Start of Annual Fundraiser
11 September 2014
Regulators Urge Caution and Full Disclosure on Time-Barred Debt Collection
10 September 2014
U.S. Rep. Proposes Sweeping Changes to FCRA, Including Furnisher Mandates
10 September 2014
Compliance Acronym Stew: Is Your Collection Agency at Risk? Part II: PCI DSS
10 September 2014
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