April 10, 2018 / 9:31 PM / 10 months ago

Mass. high court sides with debt buyer in licensing dispute

By Dena Aubin LVNV Funding, one of the country’s largest debt buyers, does not meet the legal definition of a debt collector in Massachusetts and does not require a license to collect debt, the state’s highest court ruled unanimously on Monday.

Under state law, a company is a debt collector if collection is its principal purpose, and that does not apply to LVNV because it buys debt for “investment purposes” and hires others to collect on its behalf, Associate Justice Scott Kafker of the Massachusetts Supreme Judicial Court wrote in Monday’s opinion.

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