That is not correct. A company that purchases a debt that is already in default for the purpose of collecting the delinquent debt is a debt collector.
Pollice v. National Tax Funding, L.P., 225 F.3d 379 (3d Cir. 2000). The purchaser of sewer and water service debts from a municipality, after default, was a debt collector for the purposes of the FDCPA.
Brannan v. United Student Aid Funds, Inc., 94 F.3d 1260 (9th Cir. 1996), cert. denied, 521 U.S. 1106 and 521 U.S. 1111 (1997). A student loan guaranty agency which acquired the loan after default in order to pursue collection was a debt collector under § 1692a(6).
Asset Acceptance Corp. v. Robinson, 625 N.W.2d 804 (Mich. Ct. App. 2001). An entity that purchases a debt in default is a ‘‘debt collector’’ as defined by the FDCPA.
Harris v. BWS Credit Servs., Inc., Clearinghouse No. 27,693 (D. Neb. 1980) (order on motions to dismiss). A motion to dismiss based on the assertion that the debt collection agency owned the debts was denied. The term ‘‘debt collector’’ is broad enough to cover persons collecting debts they own, and the record is not clear on whether the collector is covered or not.
Long v. G.C. Servs. Corp., Clearinghouse No. 31,345 (S.D. Ga. 1979). Collector’s motion to dismiss was denied where collector argued it was not a ‘‘debt collector’’ within § 1692a(6) since it purchased the debt which it sought to collect.
The best discussion available on the subject is What Constitutes "Debt Collector" for Purposes of Fair Debt Collection Practices Act, 173 A.L.R. Fed. 223.

