Collection Agency Licensing Management

Acumen Licensing is a leading provider of licensing management solutions for collection agencies, debt buyers and collection law firms. Our team manages the entire process, including license applications, statutory bonds, registered agents, and resident managers.

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    A licensing expert will contact you within 48 business hours.

    Other Licensing

    In addition to the licenses and/or registrations referenced in the above map, some states/jurisdictions require other types of specialized licenses based on your company’s business. Examples include, but are not limited to, the following:

    Collection Agencies:  Montana Consumer Loan License, Rhode Island Student Loan Servicer License

    Debt Buyers:  Maryland Collection Agency License (if litigating), Kansas Supervised Lender License, Louisiana Lender License

    While Acumen does its best to understand its clients’ licensing needs, it is the licensee’s responsibility to know which licenses are needed based on its business and changes to its business.  The Company should consult an attorney to receive legal advice on licensing.

    Initial Licensing

    Acumen’s professional staff assists with project planning, strategy, and managing the entire licensing process. We understand this process in all required jurisdictions across the United States and its territories, enabling us to project costs and create a strategic plan to meet your needs.

    We understand that obtaining and renewing licensing is a labor intensive undertaking and our streamlined processes and custom technology, enables us to manage the entire process for our clients. Acumen assists with obtaining licenses, exemptions, bonds, registered agent/managers and helps to understand any special jurisdictional requirements such as specific dunning letter disclosures.

    Acumen provides an online interface for collecting all the information needed to process your licenses. We prepare and submit the application in each jurisdiction and manage the process of following up to ensure licenses are processed in a timely manner.

    Renewal Licensing

    Failure to remain compliant with licensing renewal due dates and statutory requirements such as annual report filing can be costly, resulting in loss of licensing, authority to do business, fines, and penalties. Our state license renewal program mitigates these risks by managing the entire renewal process across all jurisdictions.

    Strategic Licensing Solutions / Special Projects

    Acumen offers its clients strategic license services necessary to mitigate their compliance risks associated with non-compliance with licensing requirements. Acumen’s areas of expertise in this regard include:

    • Ownership changes
    • Address changes
    • Officer, director, and key management changes
    • NMLS licensing

    License Validation

    Acumen’s license validation services help to confirm  the licenses reported by collection agencies and law firms are  valid and  current. This additional compliance measure helps creditors and debt buyers  avoid the complications and penalties that arise from unlicensed activity.

    Acumen Advantage Online Licensing Portal 

    Our online licensing portal, Acumen Advantage, powered by Monday.com, and is fully customizable based on our clients’ needs.   

    Acumen Advantage simplifies the licensing communication process and allows for secure document sharing. We create simple to follow instructions with tasks lists outlining what documents/information are needed.  

    Acumen Advantage creates greater efficiencies as the need for licensing-related emails and phone calls is mitigated. When a task is completed, we update its status so there is no guesswork on your part.   

    Acumen Advantage provides our clients insight into the status of their license applications, a list of upcoming filings, as well as current copies of their licenses and licensing documents. 

    For a free Acumen Advantage demo, please email licensing@acumenlicensing.com or complete the Contact Us form.  

    Licensing Services Summary

    INITIAL LICENSING RENEWAL LICENSING LICENSE VALIDATION / LICENSING MATRIX STRATEGIC LICENSING / SPECIAL PROJECTS
    Project planning, management and strategy Cost budgeting by month/quarter Gap analysis to ensure statutory compliance Name changes
    Project cost budgeting Systemic tracking of filings due Creation of detailed license and bond matrix Address changes
    Online filings Branch Office Licensing Ownership changes
    Obtain bonds Online filings Manager changes
    Setup registered agents and resident managers Continuation bonds NMLS Licensing management
    Application preparation and submission Application preparation and submission License regulatory investigations
    Follow up with states Follow up with states