Debt Buying News

Collections & Recovery

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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U.S. Supreme Court Hears Oral Arguments over Whether Debt Buyers are Debt Collectors under FDCPA

24 April 2017

Appeals Court Affirms Ruling Against Debt Buyer for Misleading Out-of-Stat Collection Letter

30 March 2017

Court Rules Debt Buyer’s Small Claims Court Judgment Waived Right to Arbitration in Class Action Suit

29 March 2017

CFPB Quietly Issues 2017 FDCPA Report to Congress

28 March 2017

SquareTwo Announces Portfolio Asset Sale To Resurgent Holdings

20 March 2017

FDCPA Caselaw Review for February 2017

9 March 2017

Encore Capital Announces Q4 and Full Year 2016 Results, Comments on Pricing, Supply, and TCPA

2 March 2017

PRAA Reports 4th Quarter Loss

1 March 2017

SCOTUS Hears Oral Arguments on FDCPA Out-of-Statute Debt Case

18 January 2017

FTC Charges Joel Tucker in Fake Debt Sales Scheme; Brother Scott Tucker Ordered to Pay $1.3B in Separate 2016 Case

10 January 2017

HS Financial Group Becomes Certified Debt Buyer/ Third Party Collection Agency by DBA International

10 January 2017

Massachusetts Proposes New Rules for Collection Litigation on Credit Card Debt

15 December 2016

Court Holds That Interest Reference in Dunning Letter is Not FDCPA Violation

12 December 2016

Controversial Industry Veteran Bill Bartmann Dies at 68

30 November 2016

9th Cir. Holds Debtor’s Acknowledgement of Debt Does Not Excuse Untimely Proof of Claim

28 November 2016

NY Judge Sanctions Plaintiff Attorney for Making Mountain Out Of Molehill

15 November 2016

CFPB and NY Attorney General Take Action Against Network of Sham Collection Companies

3 November 2016

Coming Soon: A Big Debt Collection Deadline in New York

26 October 2016

U.S. Supreme Court Agrees to Hear FDCPA Case

12 October 2016

DBA International Meets with CFPB Director Cordray

20 September 2016