Ind. Code § 24-5-15.5-1 Applicability
Sec. 1. This chapter applies after December 31, 2019.
As added by P.L.280-2019, SEC.6.
Ind. Code ch. 24-5-15.5
Ind. Code ch. 24-5-15.5
in effectInd. Code § 24-5-15.5-2 "Debt"
Sec. 2. As used in this chapter, "debt" has the meaning set forth in 15 U.S.C. 1692a(5).
As added by P.L.280-2019, SEC.6. Amended by P.L.156-2020, SEC.89.
Ind. Code § 24-5-15.5-3 "Debt buyer"
Sec. 3. (a) As used in this chapter, "debt buyer" means a person that is regularly engaged in the business of purchasing debt for collection purposes, regardless of whether the person:
(1) collects the debt;
(2) hires another person to collect the debt; or
(3) hires an attorney for litigation connected to collection of the debt.
(b) The term does not include a person that acquires a debt incidental to the purchase of a portfolio that predominantly consists of debt that has not been charged off.
As added by P.L.280-2019, SEC.6.
Ind. Code § 24-5-15.5-4 "Person"
Sec. 4. As used in this chapter, "person" has the meaning set forth in IC 24-5-0.5-2.
As added by P.L.280-2019, SEC.6.
Ind. Code § 24-5-15.5-5 Plaintiff debt buyer; initial pleading; required documentation
Sec. 5. (a) If a debt buyer brings an action on a debt, or an arbitration proceeding requesting a judgment on a debt, the plaintiff debt buyer shall attach with the initial pleading the following:
(1) One (1) of the following:
(A) If a signed contract or other writing evidencing the debtor's agreement to the debt exists, a copy of the contract or other writing.
(B) If a signed contract or other writing evidencing the debtor's agreement to the debt does not exist, a copy of a document provided to the debtor while the account was active.
However, for a revolving credit account, a copy of a charge off statement or the most recent monthly statement recording a purchase transaction, a last payment, or a balance transfer is sufficient to satisfy this requirement.
(2) A chronological list of the:
(A) names of all previous owners of the debt and date of each transfer of ownership of the debt, beginning with the name of the original charge off creditor; and
(B) documentation, or a bill of sale, evidencing the assignment of the debt to the plaintiff debt buyer.
(b) An initial pleading described in subsection (a) is sufficient if the plaintiff debt buyer complies with subsection (a)(1) and (a)(2).
As added by P.L.280-2019, SEC.6.
Ind. Code § 24-5-15.5-6 Failure to comply; deceptive act
Sec. 6. Failure of a plaintiff debt buyer described in section 5 of this chapter to comply with section 5(a) of this chapter is a deceptive act that is actionable by the attorney general under IC 24-5-0.5 and is subject to the penalties listed in IC 24-5-0.5.
As added by P.L.280-2019, SEC.6.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/24Fetched: 10/17/2026