Collection Agency License

I would like to know if a Collection Agency can collect an debt without a License?

They have to be licensed in the state their business is in and they have to be licensed in the state they are trying to collect from according to our state attorney office.

Jamie

Are you currently dealing with a business that is not licensed? You can have them reported to the state attorney generals office, if they are operating in your state illegally.

Regards-
Mike

What state do you live in ?? Most states have a depratment of Professional regulation ( or someting like that) where they would have to obtain a license. This same department would also be able to tell you if they ae licensed or not.

If they are not licensed in your state (and are required to be), then they cannot legally collect. They will attempot to hoping you just panic and send the money . You can turn them in for engaging in collection activity without a license. This will create a small headache for them.

Eventually they will just pay the fine, get the required license and then collect on you legally.


Same applies to Attorneys, they need to be memebrs of the bar in your state(as well as their own) in order to collect. This information is a little harder to get, but still obtainable.

collection agencies don't need to get a federal license but in some states, they must register for a state license. The licensing requirements can vary from state to state and in some cases, they even need to sign a bond.

You can get all the required information from your state's attorney general office as well as the state's consumer protection office.

Im sorry if I didnt make that clear. collection agencies are not federally licensed. In many states the agency must be licensed by the state. In at least one state the individual collectors must also be licensed by the state as well as the agency.

I can say with cretainty they (Collections Agencies)are required to be licensed in the state of Illinois.

That information can be obtained online at the Illinois Department of Professional Regulation Website here:
https://www.idfpr.com/DPR/licenselookup/default.asp

I would like to know what type of license do I need to start a debt consolidation business

WOW...that doesn't entirely inspire confidence.

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