CFPB Issues Report On Tradeline Reporting By Third-Party Debt Collectors


The CFPB has issued a new report on tradelines reported by third-party debt collectors as reflected on credit reports compiled by nationwide consumer reporting agencies.  The third-party collector tradelines consist of those reported by debt buyers and those reported by non-buyers (i.e. where the debt is still owned by the original creditor).  A single debt collections firm may collect on both debts it owns and debts that others own.