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CFPB Denies Petition From Debt Buyer to Amend CID

Account Recovery

SEPTEMBER 3, 2021

The Acting Director of the Consumer Financial Protection Bureau has denied a petition from a debt buying company to set aside or amend a Civil Investigative Demand that was alleged by the company to be overly broad, rejecting all of the company’s arguments.

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Can You Buy Your Own Debt?

Credit Corp

MARCH 1, 2023

However, you can’t actually do this due to how debt buying works. Debts of this nature are sold in large bundles to debt collectors and other agencies. Learn more about how debt buying works, why it’s not an answer to your debt concerns, and what you can do to handle debt instead below.

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