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Collection
Agency Licensing Requirements: The licensing requirements of collection agencies are prescribed under the Arkansas Collection Agency Act (Ark. C. 17-24-101, et seq.). Under this Act, any person, partnership, association, or corporation who wish to conduct a collection agency or engage within the State of Arkansas in the business of collecting claims for others, or of soliciting the right to collect or receive payment for any other person of any claim or advertise, either in print, by letter, in person or otherwise, must obtain a license from the State Board of Collection Agencies and provide a bond in an amount not less than $5,000 and not more than $25,000 depending on the number of collectors employed by the collection agency. (17-24-306.) Detailed information regarding licensing requirements may be obtained
from:
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