Legal Question in Business Law in New York
debt purchasing
Is it legal to sell debt (receivables) to the general public without being licensed.
4 Answers from Attorneys
Re: debt purchasing
Yes.
Good Luck
RRG
Re: debt purchasing
NY City requires a license for debt collection business.
Re: debt purchasing
...and the two answers you've already gotten, taken together, give you the lowdown. In general, yes, it's legal, but some localities require that you have a license. Ask your particular state, county, and municipality whether they require a license.
THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. THIS POSTING DOES NOT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP BETWEEN US. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.
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