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Obtain a License


To obtain an Arkansas collection agency license you must submit the following:

  • Application for a Collection Agency License.  
     
  • Surety Bond.  The surety bond must be issued by a bonding company/insurance company, signed by a representative of the collection agency, have a power of attorney attached and show the physical address of the collection agency.  The dollar amount of the bond is based on the number of collectors employed by the collection agency.  For zero to five collectors, the bond amount must be $10,000; for six to twelve collectors, the bond amount must be $20,000 and for thirteen or more collectors, the bond amount must be $25,000.  (Please use the form below.)
     
  • Proposed Manager Information form.  This form authorizes us to obtain the credit report of the person whom you are proposing to use as the manager of your collection agency.  You will be notified if the proposed manager’s credit history is not acceptable.

Forms for obtaining a license:

Obtain a Retroactive License

A collection agency that has been operating without a license may submit an application for a Retroactive License.  A Retroactive License Application carries all the requirements of an application for a regular license, plus an additional $10,000 fee.  A retroactive license has an effective start date corresponding to a collection agency’s initial debt collection activity in Arkansas.  But unlike a regular license, a retroactive license ends on the day it is issued.  (Any subsequent debt collection activities by the collection agency will then require a new, regular collection agency license.)

Update Surety Bond


Use this form if any information on your surety bond has changed (total number of registered collectors/solicitors has increased or decreased, address changes, name changes, new bond provider, etc.):

PLEASE NOTE: Do NOT use the above form if you only need to update your bond coverage due to adding new registered collectors/solicitors.  For those instances, please upload your new bond via the “Registration of New Collectors” form below:

If your collection agency has had an ownership change (whether a direct or an indirect change), please contact Rhonda Hetland at 501-371-1434 or at Rhonda.Hetland@arkansas.gov 

Register New Collectors


Collectors/solicitors are to be registered within 90 days of the date they were hired.  You must report all collectors/solicitors each year during license renewal but you also must report and pay a registration fee for each new hire in between renewal periods to include them into the future expiration date of your license.  The registration fee is $20.00 for each collector/solicitor.

You may report new hires on an individual basis, on a monthly basis, or on a quarterly basis.  This depends on the size of your agency and how many collectors/solicitors that you employ.

You may register new collectors/solicitors by using the online Registration of New Collectors and Solicitors system, which is payable with a credit card or an electronic check.  The charge for using the online system is 3% of the total amount due plus a $1 fee (which is used in the development and maintenance of the system).

New Collector Online Registration

NOTE: If you are registering more than 25 new collectors, please use the below format to upload them in spreadsheet form during your application.

Bulk Collector Template

Surrender a License


To surrender your Arkansas collection agency license please complete and submit the Request to Surrender Collection Agency License form along with your current license certificate, if possible – but not required. 

Renew A License


Collection agency licenses issued by the State of Arkansas expire annually on June 30 at midnight.  We accept applications for license renewals from April 1 until June 30.  If you fail to submit your completed renewal forms, fees, and related documents by June 30, you may experience a lapse in licensure.   

(Note:  New collection agency licenses issued on or after March 1, 2022 will not expire until June 30, 2023.  If you obtained a new license on or after March 1, 2022, you do not have to renew your license until next year.)

REQUIRED FORMS

A.)  License Renewal Application Form – The renewal application must be completed in its entirety.  Licenses may be renewed using the online  “Renew Your License” link at the bottom of this page. 

B.)  Surety Bond – We must have a copy of the required surety bond. 

       Collection agencies with 0 – 5 collectors / solicitors must provide a $10,000 bond. 

       Collection agencies with 6 – 12 collectors / solicitors must provide a $20,000 bond. 

       Collection agencies with 13 or more collectors / solicitors must provide a $25,000 bond. 

(You may skip this item if: (a) your current bond has remained in effect continuously, with no lapse in coverage and (b) no changes have been made in the name or address and (c) the bond premium has been paid for the current year.)

C.)  Proposed Manager Application Form – If there has been a change in location manager, you must first complete a Proposed Manager Application.  The new manager must be approved before your license renewal application can proceed.

D.)  Other Maintenance Forms – If your collection agency has had a change of agency name, address, officers, or ownership, please complete the appropriate form to update our records.

FEES

The renewal license fee is $125 for each agency location, plus a $20 registration fee for the location manager and for each collector and/or solicitor.  (Be sure not to “double count” the manager as a collector.)  You may pay the licensing fees using Visa, MasterCard, or Discover credit cards or an electronic check.  Our technology partner collects a processing fee is 3% of your total renewal fee plus $1.  (The Board does not receive this fee and has no control over it.)  

MULTIPLE LOCATIONS

We generally consider every location from which debt collection activities are conducted to be a separate collection agency.  If your company has more than one location or branch, you will have a separate account, username, and password for each license, and you will need to renew each of them individually. 

DEADLINE

The deadline to submit your completed license renewal application is the close of business (4:30PM CDT) on June 30, 2022.  We no longer accept late renewals.  A collection agency that continues to operate without a valid license after June 30th may be subject to penalties of $50 to $500 per day.  If your license expires, you will need to obtain a new license prior to contacting, dunning, or otherwise attempting to collect a debt from any Arkansas resident.  

RENEW YOUR LICENSE

File A Complaint


If you are having problems with a collection agency, you may file a complaint by filling out the form below and sending it to us or by calling us at (501) 371-1435.

If you want to stop calls or letters from a collection agency, you must write a letter to the collection agency saying that do not want to receive any future communications from it, keep a copy of the letter for your files and send the letter to the collection agency.  Send the letter by certified mail, return receipt requested so that you will have proof that the collection agency received the letter.

Replace A Collection Agency Manager


When an agency has a change of their manager, please complete the Proposed Manager Information linked below.  The new manager should be reported within 30 days after the change has occurred.  Please do not wait until our license renewal period to report a new manager or your license renewal will be delayed.

Search For Licensed Collection Agencies


PLEASE NOTE, our online Licensed Collection Agency search is currently up to date, as we have migrated to a new online search provider. 

You may still access it using the below link.  If you have specific questions regarding a Collection Agency’s status, please contact Rhonda Hetland at 501-371-1434 or at Rhonda.Hetland@arkansas.gov.