CRITICAL PROPERTY LAW UPDATE FOR DEBT BUYERS

Critical property law update for debt buyers: The U.S. Court of Appeals (3rd Circuit) agreed with the trial court below that a debt buyer whose main business activity is to purchase and then collect debt is deemed a “debt collector,” not merely a creditor, and is therefore required to comply with all the terms of the Fair Debt Collection Practices Act (FDCPA). Read the full opinion here: http://www2.ca3.uscourts.gov/opinarch/172851p.pdf.

Are you a debt buyer? Our affiliate, U.S. Debt Research, serves debt buyers nationwide. Visit https://usdebtresearch.com/ for more information.