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:
“I have been told, that in some public discourses of mine my reverence for the intellect has made me unjustly cold to the personal relations. But now I almost shrink at the remembrance of such disparaging words. For persons are love’s world, and the coldest philosopher cannot recount the debt of the young soul wandering here in nature to the power of love, without being tempted to unsay, as treasonable to nature, aught derogatory to the social instincts.”
—Ralph Waldo Emerson (1803–1882)
“It means eating your words, this thing of refusing to be a fence-sitter, but I’d rather eat my words than get calluses from sitting.
No one who has not experienced the condescension of a buyer toward an ordinary salesgirl can have any conception of its withering effect.”
—Mary Barnett Gilson (1877–?)