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: Encore Capital Group Names New SVP of External Affairs
28 August 2012
DebtConnect Online Releases its Next Generation Debt Settlement Portal
27 August 2012
Portfolio Recovery Associates Teams Up with Red Cross on Readiness Ads
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Asset Acceptance Reports Big Increase in Debt Buying, Flat Earnings in Q2
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Executive Change: Cavalry Names Christian Parker EVP of Legal Operations
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New Patent Could Turn U.S. Debt Portfolio Market on its Ear
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ACA International Elects New Leadership
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