Legal definition of Debt collection agency
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Debt collection agency

1
Debt collection agency shall mean a person engaged in business the principal purpose of which is to regularly collect or attempt to collect debts owed or due or asserted to be owed or due to another and shall also include a buyer of delinquent debt who seeks to collect such debt either directly or through the services of another by, including but not limited to, initiating or using legal processes or other means to collect or attempt to collect such debt.
Source: NY General Obligations Laws (GOL). website
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ReutersThe justices, in a 9-0 ruling, upheld a lower court's dismissal of a proposed consumer class action lawsuit against Santander Consumer USA Holdings Inc over allegations it violated a law called the Fair Debt Collection Practices Act. The ruling was the ... more »
The HillIn delivering his first opinion of the court, Justice Neil Gorsuch relied on the plain text of the Fair Debt Collection Practices Act in finding that Santander Consumer USA does not qualify as a debt collector because it purchased the $3.5 billion ... more »
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