Illinois Collection Agency Licensing Requirements:
License Required:
Yes
Surety Bond:
$25,000
Licensing Fees:
$750 – Original
$750 – Renewal
Exemption:
For out-of-state collectors: Out-of-state collectors may be exempt if [1] not soliciting accounts in Illinois; [2] their state of residence has laws which provide similar reciprocity |allow out-of-state agencies to collect only|; and [3] the state in which the non-Illinois agency resides extends the same privileges to out-of-state agencies.
If your business is providing debt collection services in the State of Illinois (IL), you may be required to have a Collection Agency Registration issued by the Department of Financial and Professional Regulation.
Furthermore, the State may reject your application if you have not met certain prerequisites** prior to submission.
*This fee may have changed since this page was last updated.
**Prerequisites may include registering with the IL Secretary of State and/or obtaining an Operator/Manager License.
License Required:
Yes
Surety Bond:
$25,000
Licensing Fees:
$750 – Original
$750 – Renewal
Exemption:
For out-of-state collectors: Out-of-state collectors may be exempt if [1] not soliciting accounts in Illinois; [2] their state of residence has laws which provide similar reciprocity |allow out-of-state agencies to collect only|; and [3] the state in which the non-Illinois agency resides extends the same privileges to out-of-state agencies.
If your business is providing debt collection services in the State of Illinois (IL), you may be required to have a Collection Agency Registration issued by the Department of Financial and Professional Regulation.
Furthermore, the State may reject your application if you have not met certain prerequisites** prior to submission.
*This fee may have changed since this page was last updated.
**Prerequisites may include registering with the IL Secretary of State and/or obtaining an Operator/Manager License.
