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Collection
Agency Licensing Requirements: Any person who wishes to engage in the business of collecting for other persons any account, bill or debt must comply with the Collecting Agencies Act of Puerto Rico. (T.10, s981, et seq.). Under this Act, a "collecting agency" does not include lawyers, banks, realtors, public officials or persons acting under the order of a court, construction and finance companies and savings and loan associations, finance and loan companies or insurance companies. The license application process includes the submission of a written application, payment of an application fee, and provision of a bond in the amount of $5,000. Each licensee must designate in writing a resident agent for service of judicial or administrative proceedings. Collecting agency license application and additional information may be obtained from: GOBIERNO DE PUERTO RICO
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