Collection Agencies: LAWDOG State Laws Credits & Collection

Collection Agency Licensing Requirements:

Licensing requirements of collection agencies are governed under Oregon Revise Statute Chapter 697 and Oregon Administrative Rules 441-800-000 through 441-810-150. Any person who operates a collection agency must first register with the Department of Consumer and Business services as established under ORS 697.031, and provide a bond or an irrevocable letter of credit in the sum of $10,000. (ORS 697.015, ORS 697.031.)

Detailed information on collection agency licensing requirements may be obtained from:
State of Oregon Department of Consumer and Business Services
Division of Finance and Corporate Securities
350 Winter Street NE, room 410
Salem, OR 97310
Tel: (503) 378-4140 (503) 378-4387
Fax: (503) 947-7862
Specific information on debt collection is located here.

Collection Agencies, Oregon Revised Statute 697

Any person collecting third-party debts, and reposessors of collateral due to another person must be registered as a collection agency. The 1995 Oregon Legislature passed amendments to the law requiring an in-state office unless a company qualifies as an "out-of-state" collection agency under the open borders concept. A $10,000 surety bond or irrevocable letter of credit and an in-state client trust account is required for registration. 350 collection agencies were registered in Oregon as of November 1, 1998.

Links to Oregon laws, government agencies, and organizations are included here. Always discuss actual cases with your actual legal advisor or legal department. The Oregon State Bar is linked here.

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