Terms Used In Indiana Code > Title 24 > Article 5 > Chapter 15.5 - Debt Buyers

• 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
• Contract: A legal written agreement that becomes binding when signed.
• debt: has the meaning set forth in Indiana Code 24-5-15.5-2
• debt buyer: means a person that is regularly engaged in the business of purchasing debt for collection purposes, regardless of whether the person:

  Indiana Code 24-5-15.5-3

• Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
• 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
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) ^{Source: OCC}