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Collection agencies

Collection agency registration

The division registers individuals or companies that collect third-party debts or repossess collateral, such as a vehicle.

How to apply

Submit an application through the Nationwide Multistate Licensing System (NMLS). The NMLS website has instructions on how to submit an application for Oregon, or any other state. You can find the checklist for an Oregon collection agency registration. NMLS has a resources and support section that may be helpful, particularly for first-time users.

Applicant requirements

An applicant for a collection agency registration must:

  • Provide proof of current business registration with the Oregon Secretary of State.
  • Provide through NMLS an electronic surety bond in the amount of $15,000 for a company located out of state that has no location or trust account in Oregon. All other applicants submit a $10,000 electronic surety bond through NMLS.
  • Upload to NMLS a completed and signed Criminal Background and Credit Check Authorization Form in Wordor PDF for each owner, partner, or manager of the business.
  • Complete the application in NMLS, including paying the registration fee of $350.
  • For companies who are headquartered outside of the state of Oregon, upload a completed Request for Waiver (PDF), to NMLS in the trust account documents. Make sure that you are filling out the form to waive both the trust account and the physical location in Oregon requirement, if you do not have a physical location in Oregon.

For more detailed information, review the checklist in NMLS. You will receive an email from NMLS notifying you when we issue the license. NMLS is the official record of the license. We do not mail or have a license for you to print. If you want something to post in your place of business, you can fill out the Notice of Licensure (hyperlink) and print for posting or sharing. Clients can confirm you are licensed on NMLS Consumer Access (hyperlink), which will include information about your license including the issue and expiration year. All licenses expire on December 31st every year.

Required disclosure questions

Your company must answer disclosure questions through the NMLS application process. If you answer yes to any disclosure question, you must provide an explanation. This chart details information that you must provide in response to an affirmative answer.