Licensing is a term that is tossed about freely in the revenue recovery industry. It is important for creditors to understand the realities of being fully licensed to better evaluate debt collections agencies.

A debt collection agency can use the term "licensed" very loosely. If a collection agency is licensed only in the state in which it is located or not licensed in every state where it conducts debt collections activity, it should be a red flag to a creditor looking to affiliate with that agency. At Hunter Warfield, we devote a great amount of time and expense to maintain licenses and registrations in all the jurisdictions where we work - more than 40 jurisdictions.

The filing requirements for each particular jurisdiction can be quite extensive and can include annual statements, annual reports, financial and trust accounting, and bond renewals. The volume of our filings are considerable, and we literally spend thousands of dollars on an annual basis on licensing. This practice is a sign of our professionalism and commitment to the industry and to our creditor clients. Additionally, it protects our clients from any type of liability resulting from unlicensed debt collectors working on their behalf.

states we hold debt collections licenses and certifications