Out of State Licensure Notice

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:

• Collection Agency License Application 
• Surety Bond  – (PDF: Download to your desktop and complete before starting your Collection Agency License Application.  You will be asked to upload it during your application.)
• Proposed Manager Information  – (Must be completed online in addition to the Collection Agency License Application.)

Obtain a Retroactive License

A collection agency that has been operating without a license may apply for a Retroactive License.  A Retroactive License application carries all the requirements of an application for a regular license, plus an additional $10,000 penalty.  A retroactive license has an effective start date corresponding to a collection agency’s initial debt collection activity in Arkansas and serves to license any previous (and otherwise permissible) activity up to the present.  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.  Please contact Board staff for more information if you believe your agency may require retroactive licensure.