A debt buyer is a company, sometimes a collection agency or a private debt collection law firm, that purchases delinquent or charged-off debts from a creditor for a fraction of the face value of the debt. The debt buyer can then collect on its own, utilize the services of another collection agency, repackage and resell portions of the purchased portfolio or any combination of these options.
Read more about Debt Buyer: History, Industry Overview, Secondary Market, Controversies
Famous quotes containing the words debt and/or buyer:
“A good debt is not as good as no debt.”
—Chinese proverb.
“I suppose that one of the psychological principles of advertising is to so hammer the name of your product into the mind of the timid buyer that when he is confronted with a brusk demand for an order he can’t think of anything else to say, whether he wants it or not.”
—Robert Benchley (1889–1945)