Licensed or not? | DebtConsolidationCare

anonymous · 2007-09-10T21:17:27-07:00

If the collection agency is not licensed to collect my current state, then they cannot do anything. Is it correct? I am living in the different state from when I had this account. That doesn't mean I wouldn't pay for what I owe, but just want to verify before paying for it. They just sent me a "funny" (I must say) like an lecture letter instead of valiation letter.

Depends whether your state actually requires them to be licensed

Depends whether your state actually requires them to be licensed in your state.

Some states will say that, as long as they have a valid license in their own home state, then they can do business within your state. But each state has different laws.

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lrhall41

Submitted by DebtCruncher on Mon, 09/10/2007 - 21:41

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Unfortunately my state of KY is like Debtcruncher described.

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lrhall41

Submitted by DOLLARSandSINCE on Tue, 09/11/2007 - 09:49

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Guest-Do you know for sure that the CA is not licensed to collec

Guest-Do you know for sure that the CA is not licensed to collect in your state? What state are you in?

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lrhall41

Submitted by volleyballmom on Tue, 09/11/2007 - 10:01

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NY. I am not sure yet if they are licensed in NY or not.

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lrhall41

Submitted by on Tue, 09/11/2007 - 10:22

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Guest- Do you live in NYC? If yes, they need a license. If NY St

Guest- Do you live in NYC? If yes, they need a license. If NY State, they do not need a license.

New York Collection Agency Laws

INTEREST RATE
Legal: 16%
Judgment: 9%

STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 6
Written Contract: 6
Domestic Judgment: 20 (1 0 yr. renewable lien)
Foreign Judgment: 20 (1 0 yr. renewable lien)

BAD CHECK LAWS (CIVIL PENALTY)
Face value of check plus two times check amount up to a maximum of $400 on NSF or $750 on "no account" (Demand prescribed by law). GEN.OB.1.1-104

GENERAL GARNISHMENT EXEMPTIONS
90% of earnings, except 1st $127.50 wk. wholly exempt.

COLLECTION AGENCY BOND & LICENSE
Bond: No
License: No
Fee: No
Buffalo: $5,000 Bond - $50 fee
NYC: License - $150 - 2 yr. fee