Plain-English definition
A company that purchases accounts or debts from another creditor or owner.
Why this term matters
If a debt buyer files suit, ownership records, account-level transfer data, and the claimed balance can become important proof questions.
Do not confuse it with
A debt buyer is different from a collector acting only for someone else.
What to check in your papers
- Where the term appears and who issued the document.
- Whether the document states a date, deadline, hearing, or response requirement.
- Whether an official form or local court rule is referenced.
Official Sources to Check
Use official sources for federal rights and your court or state sources for filing rules, deadlines, forms, and exemptions.