What is a debt buyer?

A company that purchases defaulted accounts from banks and lenders — typically for a small fraction of the balance — and then collects or sues in its own name. If the plaintiff on your papers is a company you never did business with, it is very likely a debt buyer.

How do I know if the company suing me in New York is a debt buyer?

Check the plaintiff's name at the top of your court papers against the companies listed on this page. If the name is not your original bank or lender, the plaintiff bought the account. In court it must prove that purchase — every link from the original creditor to it — with admissible records.

Do debt buyers win most of their cases?

Most of their judgments are default judgments, entered because the person sued never responded. When defendants respond and require proof, debt buyers frequently dismiss rather than document the claim.

Debt buyers in New York

Most collection lawsuits filed against New York residents don't come from the original bank — they come from debt buyers: companies that purchase charged-off accounts in bulk and sue in their own name. Their business model depends on default judgments. When a defendant shows up and requires proof, the buyer must establish that it owns the specific account, through every link in the chain of assignment, and prove the amount with admissible records.

The major debt buyers

Sourced, factual profiles — who each company is, what public records say, and what it must prove when it sues:

Responding in New York

New York's response is an Answer, due within 20 days when the summons was personally delivered to you — or within 30 days of completed service when you were served any other way (CPLR 320(a)). The Answer is where denials and affirmative defenses go on the record, including the 3-year statute of limitations, which is waived if not raised. In New York City Civil Court the answer can be made in writing or orally at the clerk's window.

Three years from when the claim accrues for an action arising out of a consumer credit transaction (CPLR 214-i) — one of the shortest in the country, and debt buyers routinely sue on New York debt that is already time-barred. It is an affirmative defense that must be raised. Suits filed before April 7, 2022 were governed by the older six-year rule, so the filing date matters when screening. (CPLR 214-i)

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By county

Where these companies file in New York, with the deadline that applies and where to find your court:

Questions people ask

What is a debt buyer?: A company that purchases defaulted accounts from banks and lenders — typically for a small fraction of the balance — and then collects or sues in its own name. If the plaintiff on your papers is a company you never did business with, it is very likely a debt buyer.
How do I know if the company suing me in New York is a debt buyer?: Check the plaintiff's name at the top of your court papers against the companies listed on this page. If the name is not your original bank or lender, the plaintiff bought the account. In court it must prove that purchase — every link from the original creditor to it — with admissible records.
Do debt buyers win most of their cases?: Most of their judgments are default judgments, entered because the person sued never responded. When defendants respond and require proof, debt buyers frequently dismiss rather than document the claim.

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DebtDefense is not affiliated with any company named on this page; names are used to identify the companies factually. DebtDefense is not a law firm and does not provide legal advice — it is a self-help document-preparation and education tool. No outcome is guaranteed.