Become a Licensed Collection Agency

It is important to note, any person, firm, corporation or association conducting business, within the State of NC, in any of these areas without a license/permit shall be guilty of a Class I felony. For more information relating to the exact laws and regulations cited in the North Carolina General Statutes, refer to NCGS Chapter 58/Article 70.

Before You Begin: Checklist for New Application

Questions?

Phone: 866-265-6329 
Fax: 888-959-3010

Applications & Forms:

The following applications & forms for Non-Insurance Business Entities (NIBE) - collection agencies, motor clubs, and premium finance companies can be obtained on-line using the North Carolina License Management System (NCLMS).

Apply for License

FAQs

Where to Mail Original Bonds?

Where to Mail Original Bonds?

NC Dept. of Insurance
Agent Services Division
ATTN: NIBE Team
1204 Mail Service Center
Raleigh, NC 27699-1204
Where to Mail Payments & Other Documents?

Where to Mail Payments & Other Documents?

US POSTAL SERVICE
NC/State of DOI
P.O. Box 742175
Atlanta, GA 30374-2175
 
OVERNIGHT DELIVERY
Bank of America lockbox Services
Lockbox #742175
6000 Feldwood Road
College Park, GA 30349
 
Who can sign on behalf of the applicant?

Who can sign on behalf of the applicant?

Only an authorized owner/officer of the corporation can sign on behalf of the applicant.

What is acceptable wording for an “attestation” or “sworn statement”?

What is acceptable wording for an “attestation” or “sworn statement”?

The authorized officer should prepare, sign and date a statement similar to: "I, ___________________, an authorized officer of the applicant certify that the (above/below/attached) information is accurate, true and correct to the best of my knowledge."

What is a trust account? What if a collection agency doesn’t have clients in North Carolina, do they still need one?

What is a trust account? What if a collection agency doesn’t have clients in North Carolina, do they still need one?

A trust account is defined as a dedicated checking account used only for the purpose of debt collection activities. If a collection agency or debt buyer collects payments, a general trust account is required in all cases. If the agency/debt buyer has NC clients, a 2nd separate trust account is required. Only one (1) of the trust account bank statements, either general -or- NC client is required. A trust account is exempt if there are no funds collected; refer to the trust account exemption section of the application.

Do I need a separate license for each branch office?

Do I need a separate license for each branch office?

Branch offices of collection agencies are NOT allowed to share and/or operate under the same license. Each collection agency location is required to apply and maintain its own individual license.

For multiple applications, can I submit one (1) set of back-up documents?

For multiple applications, can I submit one (1) set of back-up documents?

No, each application is required to have its own set of supporting documentation.

Is a Personal Questionnaire DOI-5 required in cases of corporate ownership?

Is a Personal Questionnaire DOI-5 required in cases of corporate ownership?

Personal questionnaires are not required for corporate ownership.

What defines Domestic -vs- Foreign -vs- Alien domicile status?

What defines Domestic -vs- Foreign -vs- Alien domicile status?

Domestic status refers to applicants incorporated in the state of North Carolina. Foreign status refers to applicants incorporated within the United States, but outside of NC. Alien status refers to applicants incorporated outside of the United States. Alien corporations must be owned or majority controlled ultimately by a parent entity incorporating or organized under the laws of the United States. The determining factor is the location where the company was incorporated.

Once I submit the initial application, what happens next?

Once I submit the initial application, what happens next?

Your application will be under the preliminary review process by the North Carolina Licensing Office of PearsonVUE. You will be contacted by email if further clarification and/or additional information is needed. Upon successful completion of the preliminary review, the application will be referred to NCDOI for regulatory review. Once the application passes the regulatory review, an email notification of approval and certificate of licensure will be sent to the applicant. The entire process can take anywhere from 4-8 weeks. Typically, the preliminary review process takes 2 weeks, unless there are deficiencies within the application. Once all deficiencies are resolved, the regulatory review process can potentially take another 2-4 weeks.