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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CFPB Begins Rulemaking Process for Debt Collection Industry
5 November 2013
OCC Issues Bulletin to Banks on Risk Management Guidelines for Third-Party Relationships
5 November 2013
FDCPA Reform Bill Introduced in House; Focuses on Time-Barred Debt
4 November 2013
Who is Driving Change in the ARM Industry: Regulators or Creditor Clients?
1 November 2013
Top Predictions for the ARM Industry
1 November 2013
Portfolio Recovery Associates Reports Record Revenue and Income; Moves Collection Jobs Back to U.S.
31 October 2013
State AG Sues Debt Buyer Over "Robosigning" of Affidavits
31 October 2013
Portfolio Recovery Associates UK Wins Credit Excellence Award in Compliance
30 October 2013
Buried in Chase's Legal Battles is a Game-Changer for Debt Collection
30 October 2013
New York City Tries to Ban Collection Agency
28 October 2013
FTC Has Court Shut Down Collector of Fake Payday Loan Debts
24 October 2013
When Is The Best Time To Sell A Business?
24 October 2013
TCPA Lawsuits Really Are Growing Compared to FDCPA Claims
22 October 2013
Amidst ARM Market Changes, M&A Strategies are Being Refined
22 October 2013
New York Regulator Proposes Strict New Standards for Debt Collection
21 October 2013
YGC Solutions Data Standard Now Available in Public Domain
18 October 2013
Appeals Court Defines FDCPA Suit Filing Period in Split Decision
11 October 2013
Consumer Group Issues Scathing Report on Debt Collection Laws; ACA Responds
10 October 2013
Unemployment Rate Among Veterans Applying for Industry Grant Program Five Times National Average
10 October 2013
Portfolio Recovery Associates Named One of Forbes' Top 25 Best Small Companies in America
10 October 2013
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