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Out of state debt collector trying to collect for in state debt


BTO429
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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?

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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.

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