Collection Agency Licensing Management
Acumen Solutions Group 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.
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.
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
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:
- Licensing gap analysis
- Ownership changes
- Address changes
- Officer, director, and key management changes
- NMLS licensing
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.
Licensing Services Summary
|INITIAL LICENSING||RENEWAL LICENSING||STRATEGIC LICENSING||SPECIAL LICENSING|
|Project planning, management and strategy||Cost budgeting by month/quarter||Gap analysis to ensure statutory compliance||Name change|
|Project cost budgeting||Systemic tracking of filings due||Creation of detailed license and bond matrix||Address change|
|Online filings||Task management||Ownership change|
|Obtain bonds||Online filings||Manager change|
|Setup registered agents and resident managers||Continuation bonds||NMLS management|
|Application preparation and submission||Application preparation and submission||License regulatory investigations|
|Follow up with states||Follow up with states|