Indiana Code 24-5-15.5-3. “Debt buyer”
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Sec. 3. (a) As used in this chapter, “debt buyer” means a person that is regularly engaged in the business of purchasing debt for collection purposes, regardless of whether the person:
(2) hires another person to collect the debt; or
(1) collects the debt;
Terms Used In Indiana Code 24-5-15.5-3
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- debt: has the meaning set forth in Indiana Code 24-5-15.5-2
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- person: has the meaning set forth in Indiana Code 24-5-15.5-4
(3) hires an attorney for litigation connected to collection of the debt.
(b) The term does not include a person that acquires a debt incidental to the purchase of a portfolio that predominantly consists of debt that has not been charged off.
As added by P.L.280-2019, SEC.6.