Commercial Licensing Requirements

  • IACCLogo-300pxDid you know that commercial collection agencies are now REQUIRED to be licensed in these states, territories and cities to collect commercial debts?

    The following are the jurisdictions that require commercial debt collectors to be licensed and also follow the same collection laws as consumer debt collectors.  This may also include requirements for agencies to have resident offices and qualified managers on a State by State basis.

     

    Arizona- License required (also apply state debt collection laws)

    Buffalo, NY- License required (also apply state debt collection laws)

    Delaware- License required (also apply state debt collection laws)

    Florida- License required (also apply state debt collection laws)

    Guam- License required

    Idaho- License required (also apply state debt collection laws)

    Illinois- License required (also apply state debt collection laws)

    Indiana- License required (also apply state debt collection laws)

    Minnesota- License required (also apply state debt collection laws)

    Nebraska- License required (also apply state debt collection laws)

    Nevada- License required (also apply state debt collection laws)

    New Jersey- Bond only (license is not required)

    North Carolina- License required

    Oregon- License required

    Pennsylvania- no license required, but apply state debt collection laws

    Puerto Rico- License required (also apply state debt collection laws)

    Tennessee- License required (also apply state debt collection laws)

    Utah- License required (also apply state debt collection laws)

    Virgin Island- License required (also apply state debt collection laws)

    Washington- License required (also apply state debt collection laws)

    West Virginia- License required (also apply state debt collection laws)

    Historically, commercial collection agencies and commercial creditors did not view consumer licensing laws to be applicable to them. As a result, many agencies are only licensed in the states they are domiciled.

    In fact, if they are domiciled in a state that does not require specific collection agency licensing, they might not be licensed at all.  If they are an attorney firm, they may not even view themselves as an agency, but the law does.

    Make sure your agency is compliant with the law.

    As of January, 2014 twenty-five (25) separate States and jurisdictions have determined that it is illegal to collect a commercial debt in their jurisdiction unless you are properly licensed and bonded in their jurisdiction. They have determined that commercial collection agencies must also be licensed to do business in their states if they collect into the State. Some of these States require resident offices, and qualified managers that have passed State certification tests.

    Access Receivables is IACC Certified and fully licensed and bonded for your protection.

    Access Receivables is licensed nationally to do business in all States and jurisdictions as part of its total compliance program.  We are carry over $1,000,000 in bonds for your protection.

    In addition, our attorneys, are bonded for $3.0 Million through General Bar, our chosen law list.  These licenses and bonds provide you with added assurance that you will never be pulled in to litigation or worse because the company you are using is not properly licensed.

    Our IACC certification ensures your organization that we comply with a strict set of requirements. There are only twenty commercial collection agencies in the US that carry this important designation.

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