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  • Collection Agency License Checklist Requirements - Cis State Mi

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BCS/LCA-200 (04/11) Michigan Department of Licensing and Regulatory Affairs Bureau of Commercial Services Licensing Division COLLECTION AGENCY LICENSING P.O. Box 30018, Lansing, MI 48909 517-335-6073.

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The Michigan Fair Debt Collection Practices Act prohibits collection agencies from harassing borrowers or using unfair or misleading tactics to collect debts. This law also allows private remedies for consumers in order to create a victim recovery of actual damages or equitable relief.

How do Collection Agencies Apply for a License in Michigan? Step 1 – Become a Licensed Collection Agency Manager. Collection agencies in Michigan must employ a licensed collection agency manager at each licensed office location. ... Step 2 – Purchase a Surety Bond. ... Step 3 – Complete the Application.

About LARA The Department of Licensing and Regulatory Affairs (LARA) is composed of the following agencies, bureaus and commissions that promote business growth and job creation through streamlined, simple, fair, and efficient regulation, and at the same time protect the health and safety of Michigan's citizens.

If you owe an unsecured debt, your creditor must sue you in court and win a judgment before it can take any of your income, money, or property.

The state has a licensing statute that requires the debt collector to be licensed to collect in Michigan and prohibits misleading or deceptive communications, misrepresentations, simulated legal processes, unlawful threats, and other harassing tactics to debtors (ProtectingConsumerRights.com).

Exemptions in Michigan Under the exemption law, you can exempt up to $35,300 worth of equity in your residence from the bankruptcy estate. If you file for Chapter 7 and have more equity than is covered by the exemption, your house may be sold to pay your creditors the amount that exceeds the exemption.

ing to Michigan law, your creditor has up to 6 years (from the date of your last payment) to collect on a debt, including obtaining a judgment on the debt. By getting a judgment, your creditor can pursue collections (likely a garnishment) almost indefinitely as long as they renew the judgment every 10 years.

The Collection Agency Manager License Application form is required for owner-manager applicants and non-owner managers not currently licensed. (The form can be found under the Licensing Applications and Forms at .michigan.gov/collections).

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232