North Carolina Collection Agency License Guide
In North Carolina, entities who engage in the collection agency business and/or solicit debt from more than one person must hold a Collection Agency license. Such a license is also required of debt buyers who engage in purchasing consumer loans, credit accounts, or consumer debt for collection purposes.
The North Carolina Department of Insurance regulates and supervises all collection agency licenses.
New license applications and renewals must be submitted online through the North Carolina License Management System (NCLMS)
Access North Carolina Consumer Collection Agency License Forms and Related Documents
All license applications are available online on NCLMS. You may also find them on the NC DOI Collection Agencies page . If you are interested in engaging in the collection agency business, you must complete the following:
Collection Agency License application form available here .
Note: As document links are updated regularly, they may have expired. If you cannot access the links, go to the NC Collection Agencies page to find the forms you need.
Fulfill Requirements and Obtain Required Documents
- Company Demographics : Applicants must include the company's contact information and agency designation (state/country of incorporation).
- Ownership/Related Activities : Provide information on owners, governing members, officers, and business relationships. If applicable, list any similar business companies (engaged in debt collection) managed by the above stated individuals.
- Authorization to Apply for Collection Agency Permit : Submit a certified copy of the owner’s authorization and/or the Board of Directors’ resolution proving that you can apply for a NC collection agency license.
- Legal Disclosures : Provide information on all attorneys hired (or who will be hired) by the applicant to collect debt. Under this section, applicants must submit an explanation for each “yes” response to the disclosure questions.
- Collection Activities : Submit the relevant information on the applicant’s collection activities, including collection methods and processes.
Financial and Banking Information : Applicants must attach a copy of the trust account bank statement (used for collection activities), as well as a certified balance sheet reflecting a positive net worth of at least $5,000.
Formation Documents : Attach certified copies of the applicable documentation:
CORP: Articles of Incorporation and/or By-Laws
LLC: Articles of Organization and/or Operating Agreement
Partnerships: Partnership Agreement
Obtain Your NC Collection Agency Bond
All Collection Agency license applicants are required to furnish an original surety bond. The amount of the bond depends on the state/country where the applicant is incorporated. This is divided into domestic (NC corporations), foreign (non-NC corporations), and alien (international/non-US corporations).
Domestic Applicants: $10,000 surety bond
Foreign Applicants: $20,000 surety bond
Alien Applicants: $40,000 surety bond
Applicant may pay NCLMS with a credit card or with a check/money order made payable to NC Department of Insurance. All fees are non-refundable.
NC Licensing Fee : $1,000
Processing Fee : $48
Submit Your Collection Agency License Application
All license application forms must be submitted online via NCLMS . All applicable documentation and fees must be filed via mail.
Original Surety Bond:
North Carolina Department of Insurance/ASD
ATTN: NIBE Team
1204 Mail Service Center
Raleigh, NC 27699-1204
North Carolina, State of DOI
PO Box 742175
Atlanta, GA 30374-2175
Bank of America Lockbox Services
6000 Feldwood Road
College Park, GA 30349
For further information regarding the licensing process, you may contact the NC Licensing office at (866) 265-6329 or [email protected].