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  • Collection Agency License Checklist Requirements - Cis State Mi

Get Collection Agency License Checklist Requirements - Cis State Mi

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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How to fill out the COLLECTION AGENCY LICENSE CHECKLIST REQUIREMENTS - Cis State Mi online

Filling out the Collection Agency License Checklist Requirements for the state of Michigan is a crucial step in ensuring compliance with state regulations. This guide provides clear instructions for successfully completing the application online, catering to users with varying levels of experience.

Follow the steps to accurately complete your application.

  1. Press the ‘Get Form’ button to obtain the form and open it in your selected application platform.
  2. In Section 1, provide general applicant information. Fill in the name of the collection agency, its permanent ID number (if relicensing), the assumed name (if applicable), federal employer ID number, mailing address, and daytime telephone number.
  3. Indicate the type of business structure by checking the appropriate box: individual, partnership, LLC, corporation, or sole proprietor. Specify the type of agency by selecting either collection agency or repossession agency.
  4. Complete Section 2 with the owner-manager information. Provide the name, date of birth, address, home telephone number, social security number, and email address of the owner-manager.
  5. In Section 3, provide background information as required. Answer questions regarding previous licenses in Michigan or other states, felony convictions, and disciplinary actions, ensuring you include necessary documentation.
  6. Section 4 requires certification and signatures. Ensure the application is signed and dated by the owner or manager before submission to avoid processing delays.
  7. After filling out all sections, review the completed form for accuracy. Once verified, save your changes within the application platform, and you may also download, print, or share the form as needed.

Complete your application for the collection agency license online today!

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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
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
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 WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
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