Collection agency info by state

I have noticed in the past few weeks people have been asking about whether a collection agency has to be licensed. Here is the info to answer the questions state by state.

[quote]ALABAMA
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: Yes
• Fee:
o $25 - Population under 20,000
o $100 - Population over 20,000
• Exemption for out-of-state collectors: Business License not required for out-of-state agency.

ALASKA
COLLECTION AGENCY BOND & LICENSE
• Bond: $5000 License: Yes
• Fee:
o $100 - Application
o $200 - Agency Biennially
ARIZONA
COLLECTION AGENCY BOND & LICENSE
• Bond: $10,000 minimum (based on gross income)
• License: Yes
• Fee:
o $1500 Application Fee
o $600 Annual Fee
o $23 per Officers/Managers

ARKANSAS
COLLECTION AGENCY BOND & LICENSE
• Bond: $5000 to $25000
• License: Yes
• Fee: $125 - $5 each employee
CALIFORNIA
COLLECTION AGENCY BOND & LICENSE
No license or bond required.

COLORADO
COLLECTION AGENCY BOND & LICENSE
• Bond: $12,000 - 20,000
• License: Yes
• Fee: Determined by collection agency board
• Exemption for out-of-state collectors: Out of state collectors are exempt if [1] collecting only by interstate means (phone, fax, mail); [2] have no Colorado client; and [3] are regulated and licensed in the state in which they reside.
CONNECTICUT
COLLECTION AGENCY BOND & LICENSE
• Bond:$5000
• License: Yes
• Fee:
o $200 Yearly
o $50 Investigation
DELAWARE
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: Merc. License
• Fee: $50 Yearly
DISTRICT OF COLUMBIA
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: No
• Fee: No
FLORIDA
COLLECTION AGENCY BOND & LICENSE
• Bond: Yes - $50,000 (Commercial)
• License: Yes
• Fee: Yes
o $200 - Registration
o $50 - Investigation
o $200 - Renewal
• Exemption for out-of-state collectors: Registration is required for out-of-state collectors if [1] soliciting accounts; [2] if client (creditor, its affiliate or subsidiary) has an office in Florida.
GEORGIA
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: No
• Fee: No

HAWAII
COLLECTION AGENCY BOND & LICENSE
• Bond: $25,000/$15,000 each branch
• License: Registration with 'DCCA' required for consumer, not commercial, collections
• Fee:
o $ 25 - Application
o $ 80 - Registration
o $ 50 - Compliance
o $155 for 2 years
IDAHO
COLLECTION AGENCY BOND & LICENSE
• Bond: $5,000 initial
• License: Yes
• Fee: $100 -permit fee $50 - renewal
• Exemption for out-of-state collectors: Out-of-state collectors may qualify for a special license if [1] only collecting for client; and [2] are licensed and bonded by any state.
ILLINOIS
COLLECTION AGENCY BOND & LICENSE
• Bond: $25,000
• License: Yes
• Fee:
o $750 - Original
o $750 - Renewal
• Exemption for out-of-state collectors: Out-of-state collectors may be exempt if [1] not soliciting accounts in Illinois; [2] their state of residence has laws which provide similar reciprocity (allow out-of-state agencies to collect only); and [3] the state in which the non-Illinois agency resides extends the same privileges to out-of-state agencies.
INDIANA

COLLECTION AGENCY BOND & LICENSE
• Bond: $5000 each office
• License: Yes
• Fee:
o $100 plus $5 per annum, each unlicensed employee
o $30 branch office
o $80 - Renewal
• Exemption for out-of-state collectors: Out-of-state collectors are exempt from licensing if [1] collecting for a nonresident creditor; and [2] collection activities limited to interstate communications (phone, fax, mail).
IOWA
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: No
• Fee: No
KANSAS
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: No
• Fee: No

KENTUCKY
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: No
• Fee: No
LOUISIANA
COLLECTION AGENCY BOND & LICENSE
• Bond: Yes - $10,000
• License: Yes
• Fee:
o $200 Initial
o $200 Investigation
o $200 Renewal
o $100 Branch
o $100 Branch Renewal
MAINE
COLLECTION AGENCY BOND & LICENSE
• Bond: $25,000 to $50,000
• License: Yes
• Fee: $400 Yearly
• Exemption for out-of-state collectors: Contact state authority. Licensing authority is allowing some exemptions to out-of-state agencies that collect for nonresident creditors and are not soliciting.

MARYLAND

COLLECTION AGENCY BOND & LICENSE
• Bond: $5000
• License: Yes
• Fee: $200 each office
MASSACHUSETTS
COLLECTION AGENCY BOND & LICENSE
• Bond: $10,000 - $25,000
• License: Yes
• Fee: Determined by commissioner
MICHIGAN
COLLECTION AGENCY BOND & LICENSE (RETAIL ONLY)
• Bond: $5,000 - $50,000
• License: Yes
• Fee:
o $150 - Investigation
o $225 - Initial
o $125 - Annually
• Exemption for out-of-state collectors: Out-of-state collector are exempt if [1] collecting by interstate means; and [2] have no clients in the state of Michigan.

MINNESOTA
COLLECTION AGENCY BOND & LICENSE
• Bond: $5,000 to $20,000
• License: Yes
• Fee:
o $1,000 - Initial
o $400 - Annual
o $10 - Per Collector
MISSISSIPPI
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: City-Business
• Fee: $15-$50
MISSOURI
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: No
• Fee: No
MONTANA
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: No
• Fee: No
NEBRASKA
COLLECTION AGENCY BOND & LICENSE
• Bond: Based on Lic. Solic. Less Than 5 = 5,000, 5-15=$10,000, 16-Up=$15,000
• License: Yes
• Fee: (not to exceed)
o $250 - Investigation
o $200 - Original
o $100 - Renewal
o $50 - Investigation Branch Office
o $35 - Original Branch Office
• Exemption for out-of-state collectors: Out-of-state collectors are exempt if [1] communicating by interstate means (phone, fax, mail); and [2] are "regulated" by the laws of another state.
NEVADA
COLLECTION AGENCY BOND & LICENSE
• Bond: $25,000 to $50,000
• License: Yes
• Fee:
o $250 - App. Survey
o $300 - Original
o $200 - Renewal
• Exemption for out-of-state collectors: Out-of-state collectors are exempt if [1] collecting by interstate means (phone, fax, mail); and [2] collecting for an out-of-state client.
NEW HAMPSHIRE
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: No
• Fee: No
NEW JERSEY
COLLECTION AGENCY BOND & LICENSE
• Bond: $5000 Surety
• License: No
NEW MEXICO
COLLECTION AGENCY BOND & LICENSE
• Bond: $5,000 minimum - based on volume
• License: Yes
• Fee:
o $500 - original collection agency or branch
o $300 - renewal collection agency or branch
o $100 - examination fee for manager's license
o $50 - manager renewal
• Exemption for out-of-state collectors: Out-of-state agency is exempt if [1] collecting by interstate means (phone, fax, mail); and [2] debt was incurred outside the state of New Mexico.
NORTH CAROLINA
COLLECTION AGENCY BOND & LICENSE
• Bond: $5,000 to $50,000
• License: Yes
• Fee: $500
• Exemption for out-of-state collectors: Contact state authorities. Unofficially, licensing authorities may allow out-of-state agencies to bypass requirements if they do not solicit in state and/or work for instate clients.
NORTH DAKOTA
COLLECTION AGENCY BOND & LICENSE
• Bond: $20,000
• License: Yes
• Fee: $200
• Exemption for out-of-state collectors: Out-of-state collectors may be exempt if [1] collecting only; [2] their office is located in a state that has a reciprocal law; and [3] the state has "enacted similar legislation".
OHIO
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: No
• Fee: No

OKLAHOMA
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: No
• Fee: No
OREGON
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: Registration only
• Fee: Established by director
• Exemption for out-of-state collectors: Contact state authorities. Out-of-state agencies may be exempt if [1] collecting for out-of-state client; [2] the debt was incurred by an Oregonian outside the state; and [3] the state where the collection agency is headquartered has a registration program comparable to Oregon's law.
PENNSYLVANIA
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: No
• Fee: No
RHODE ISLAND
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: No
• Fee: No
SOUTH CAROLINA
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: Yes - all business
• Fee: No
• Exemption for out-of-state collectors: License required for instate agency only.
SOUTH DAKOTA
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: No
• Fee: No
TENNESSEE
COLLECTION AGENCY BOND & LICENSE
• Bond:
o $15,000 1-4 employee
o $20,000 5-9 employee
o $25,000 10 or more
• License: Yes
• Fee:
o $600 - Original
o $350 - Renewal
o $25 - Each Solicitor
• Exemption for out-of-state collectors: Contact state licensing authority. Out-of-state agencies may be exempt if they [1] maintain office in another state; [2] resides in a state that provides reciprocity; and [3] comply with provisions of licensing.
TEXAS
COLLECTION AGENCY BOND & LICENSE
• Bond: Yes
• License: No
• Fee: No
Always consult counsel to charge interest - Texas has very onerous usury laws & penalties.
UTAH
COLLECTION AGENCY BOND & LICENSE
• Bond: $10,000
• License: Yes
• Fee: Varies by City and County.
VERMONT
COLLECTION AGENCY BOND & LICENSE
• Bond: No
• License: No
• Fee: No
VIRGINIA
COLLECTION AGENCY BOND & LICENSE
• Bond:$5000
• License: Depends on Locality
• Fee: No
WASHINGTON
COLLECTION AGENCY BOND & LICENSE
• Bond: $6000 general, $4000 specialty
• License: Yes
• Fee:
o $100 - Investigation
o $100 - Original
o $100 - Renewable
o $50 - Branch Office
• Exemption for out-of-state collectors: Contact state authorities. Out-of-state agencies may qualify for lesser licensing fees. Out-of-state collectors are no longer required to have resident office and instate trust accounts if they don't have instate client. Bond is not required if held in home state.
WEST VIRGINIA
COLLECTION AGENCY BOND & LICENSE
• Bond: $5,000
• License: Yes - Franchise Reg. Cert.
• Fee: $15 Annual
• Exemption for out-of-state collectors: Contact state authorities. Some out-of-state agencies may be exempt if they are only collecting for out-of-state clients.

WISCONSIN
COLLECTION AGENCY BOND & LICENSE
• Bond: $15,000 min.
• License: Yes
• Fee:
o $1000 - Investigation
o $200 - Annual
• Exemption for out-of-state collectors: Out-of-state agencies do not need to be licensed if [1] collecting by interstate means (phone, fax, mail); and [2] collecting for an out-of-state client.
WYOMING
COLLECTION AGENCY BOND & LICENSE
• Bond: $10,000
• License: Yes
• Fee:
o $200 - Original
o $100 - Renewal
o $100 - Branch
• Exemption for out-of-state collectors: Out-of-state agencies may bypass licensing if they are not [1] soliciting clients in Wyoming; or [2] collecting for Wyoming creditors.

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