BTO429 Posted July 28, 2011 Report Share Posted July 28, 2011 Indiana:COLLECTION AGENCY BOND & LICENSE Bond: $5000 each office License: Yes Fee: $100 plus $5 per annum, each unlicensed employee $30 branch office $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).The creditor is in Indiana but his collection agent is in Ohio. He needs to be bonded in Indiana if I read it correctly. If they are not what are the penalties? Link to comment Share on other sites More sharing options...
1stStep Posted July 28, 2011 Report Share Posted July 28, 2011 The penalties can vary... in AZ, there is a civil money penalty for unlicensed debt collection which ranges from $5,000 to $20,000. It can also become criminal - a class 1 misdemeanor which has a punishment of 6 months in jail. File a complaint... it seems that the penalties only get handed out if there are a lot of complaints. Link to comment Share on other sites More sharing options...
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