May 12, 2021
Surety Bond Professionals is a family-owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your Arizona collection agency license bond needs. Learn how to get a collection agency license in Arizona, below. What Collection Agency Licenses Are Issued in Arizona? The Arizona Department of Financial Institutions (AZDFI) requires individuals and business entities engaged in third-party debt collection to be properly licensed. In a multi-office operation, the main office must be licensed before applying for branch office licenses, with one license per branch. While license applications can be submitted to AZDFI, the Department is encouraging collection agencies to apply for licensing through the Nationwide Mortgage Licensing System (NMLS), which is faster and more efficient. What Are the Steps in the Licensing Process? Our focus here is on the way the licensing process is executed through NMLS, not AZFDI. The NMLS New Application Checklist provides information about completing the appropriate online forms and uploading required supporting documents. You’ll also have to: Pay the application fee (currently $1,500) Pay the licensing fee (currently $150 to $600, depending on the month in...
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