Do I need a license to become a debt collector in NJ? If so how do I get one?

Asked 11 months ago - Union, NJ

How do I get a license to become a debt collector in NJ?

Attorney answers (3)

  1. Michael T Warshaw

    Contributor Level 17

    2

    Lawyers agree

    Answered . You may need to be registered as a business, and you will need to be familiar with and compliant with state and federal laws that regulated debt collectors, but beyond that, there are no special requirements to be a debt collector.

    The content of the this submission is intended to provide general information on the topic presented, and is... more
  2. Pamela Koslyn

    Contributor Level 20

    3

    Lawyers agree

    Answered . There are state and federal debt collection laws that debt collectors need to adhere to or they risk being liable to debtors. But I know of no federal or state license requirement that affects NJ's or any other state's residents to do this job. Check with your city's finance office to see if you need a business license and are required to pay a city business tax.

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  3. Jason David Roth

    Pro

    Contributor Level 14

    1

    Lawyer agrees

    Answered . You will also need to post a bond.

    This office does not represent you. This email does not form any attorney / client relationship. In order to form... more

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