We need a more centralized collection licensing system
Although the demands to keep up with regulations in the collection industry have evolved and grown over the years, having a nationally centralized licensing system still seems to be lagging. Let me take a moment to suggest an idea to overcome the logistics of having to pursue multiple state licensing. As many of you know, becoming licensed nationally is an expensive and time-consuming endeavor since it requires getting licensed state by state through individual registration sites. However, imagine if there was one online site through which you could obtain a non-residential license for any state by simply:
Selecting the state for which you would like the license
Filling in all appropriate information and submitting the documents pertaining to getting licensed in that state
Paying the fee
Receiving your license
As a simple example of how all this could easily work, The National Insurance Producer Registry (
), is one such national licensing resource for insurance professionals. So long as the agent or agency is licensed in their home state, they can obtain authorization to do business legally in another state, usually within 20 minutes with a matter of clicks.
This system itself has been around for decades and is something the collection industry could easily emulate for the benefit of all agencies and firms that perform collections on a national basis. I believe that with the joint cooperation of the leading collection associations in the country, the need to obtain a collection license in each state could become a very easy streamlined reality.
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