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Debt buyers, specialized debt-collection companies, purchase defaulted consumer debt from creditors such as credit card companies for pennies on the dollar. Debt buyers then attempt to collect the debt, often by suing borrowers in court. State and federal officials should continue to strengthen the...
Publication Date: April 4, 2016
Topic: Credit & Debt
Author: Bill Sermons, Leslie Parrish, Lisa Stifler
Publisher: Center for Responsible Lending
Content Type: Research
Format Type: Report
Tag: Consumer protection, Debt, Debt collection, Lending, Mainstream financial services, United States
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