Before we dive deeper into the FDCPA, it’s important to understand a few key terms you’ll encounter throughout this training. These definitions will help clarify the roles and responsibilities of everyone involved in the debt collection process.
Click each picture to learn more
A creditor is the original party owed the debt, not the collection agency. However, for NCB, we own our purchased portfolio/accounts.
A debt collector is someone collecting a debt on behalf of another party or organization.
A consumer is any person obligated or allegedly obligated to pay a debt.
Consumer
Creditor
Debt Collector
Key Definitions
Andrew Black
Created on April 1, 2026
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Transcript
Before we dive deeper into the FDCPA, it’s important to understand a few key terms you’ll encounter throughout this training. These definitions will help clarify the roles and responsibilities of everyone involved in the debt collection process.
Click each picture to learn more
A creditor is the original party owed the debt, not the collection agency. However, for NCB, we own our purchased portfolio/accounts.
A debt collector is someone collecting a debt on behalf of another party or organization.
A consumer is any person obligated or allegedly obligated to pay a debt.
Consumer
Creditor
Debt Collector