Licensing
Debt buyer
A company that purchases past-due accounts and collects on balances it now owns. Many states regulate debt buyers separately from agencies.
A debt buyer purchases portfolios of past-due accounts and then collects on the debt it now owns. Several states license debt buyers specifically, separately from agencies that collect for others.
A company that both buys debt and collects for outside creditors can need more than one authorization. Debt buyers that collect on what they purchased are still subject to the FDCPA and state collection laws.
Related terms
Where this comes up
Debt buyer is one piece of getting and keeping a business licensed. We handle the filings, bonds, and renewals that surround it across every state where you operate.