Debt Collections
The Minnesota Department of Commerce licenses collection agencies and debt collectors. Our efforts provide regulatory oversight of the industry to help protect consumers and promote a competitive marketplace.
Email: licensing.commerce@state.mn.us
Phone: 651-539-1599
Guidance to All Licensed Collection Agencies and Registered Collectors Related to Coronavirus
Enforcement Guidance regarding Minnesota Statutes § 332.33, subd. 3(.pdf)
The Minnesota Department of Commerce licenses collection agencies and debt collectors. Our efforts provide regulatory oversight of the industry to help protect consumers and promote a competitive marketplace.
Follow these steps to apply for a collection agency license.
Go to Pulse Portal, select "Minnesota Department of Commerce" as the program, and "Debt" as the board. Then click on "Submit License Application" and follow the instructions from there.
Fees are paid via the online portal: The initial registration fee is $1000 state fee. The online system vendor also charges a $9.95 application fee and a credit card processing fee. Each branch of a Collection Agency must obtain a separate license. The fee for a branch location is $500.00.
After you submit your Agency/Branch application, you should do an application status inquiry on Pulse Portal to see when the license is issued. After the license is issued, you can print a copy of it.
A State ID and PIN number will be printed on page 2 of the license. That number must be used to set up an account on Pulse Portal. Once the account is set up for your agency, you will be able to submit individual debt collector registration applications and perform other functions on the system.
After the Minnesota Department of Commerce approves your agency license, at least one Minnesota-licensed Debt Collector must be affiliated with your agency within 30 days, or the department reserves the right to cancel or terminate the agency license. This requirement does not apply to a 'Letter Service Only' licensee.
The original Minnesota Surety Bond for each licensed place of business must be mailed to the Minnesota Department of Commerce along with a copy of the application confirmation page from Pulse Portal. The Power of Attorney must also be attached to Surety Bond along with an itemized financial statement form.
If the collection agency name is different from the legal name of the corporation, partnership, other business entity, or individual owner, a copy of the Certificate of Assumed Name, filed and stamped by the Minnesota Secretary of State must be faxed to the Minnesota Department of Commerce at 651-539-0111 along with a copy of the application confirmation page from Pulse Portal.
Information about filing for a Certificate of Assumed Name may be obtained from the Secretary of State, 180 State Office Building, 100 Constitution Avenue, St. Paul, MN 55155, 651-296-2803.
The following must be faxed to the Minnesota Department of Commerce at 651-539-0111 along with a copy of the application confirmation page from Pulse Portal:
If the collection agency is a corporation, a copy of the Articles of Incorporation that were filed and stamped by the Minnesota Secretary of State.
If the collection agency is a partnership, a copy of the partnership agreement signed by all partners.
If the collection agency is a Limited Liability Company or other business entity, a copy of the business organization documents.
A completed "Disclosure of Owners, Partners, Officers" form, providing names and addresses of owner, officers, directors, 25% shareholders, partners, or employees who exercise management or policy control in the company must be faxed to the Minnesota Department of Commerce at 651-539-0111 along with a copy of the application confirmation page from Pulse Portal.
Contact the Minnesota Department of Commerce with any questions at 651-539-1599.
A collection agency shall be exempt from the licensing and registration requirements of this chapter if all of the following conditions are met:
Details on how to apply for individual Debt Collector registration.
A collection agency/branch representative must go to Pulse Portal, log into the agency's user account, click on "Minnesota Department of Commerce" for the program and "Debt" for the board, and click on "Submit License Application" and "Begin an Individual License Application."
The renewal window for debt collections renewals is open from May 1 to June 30 at 4:30 PM Central time.
Renewing debt collector registrations and collection agency licenses is done through the Collection Agency and Debt Collector Mass License Renewals service described below. The renewal period ends June 30 at 4:30 PM CDT.
If you have not already done so, create an account with Pearson VUE. To create an account, go to Pulse Portal. From the "Choose a state to begin" drop-down menu, select "Minnesota." From the "Choose a board to continue" drop-down menu, select "Debt." Under "Licensing Services," click on "Register for an Account." Enter your State ID and PIN and follow the instructions on the screen that appears. If you don't remember your State ID and PIN, click on “Home.” From the "Choose a state to begin" drop-down menu, select "Minnesota." From the "Choose a board to continue" drop-down menu, select “Debt.” Under “Print Licenses/Documents,” click on “Print Your License,” go through the process, and retrieve your state ID and PIN from page 2.
Go to Pulse Portal.
Do not use your browser's "Back" button at any point in the process, or you will lose all of the data that you have entered to that point and will need to start over from the beginning.
Each collection agency must establish procedures to screen each of its debt collectors prior to submitting the renewal payment. The screening process for the renewal of a debt collector registration must include a national criminal history record search, and a county criminal history search for all counties where the individual has resided for the immediate preceding year. Screening for renewal of individual collector registrations must take place no more than 60 days before the registration expiration or renewal date. A renewal screening is not required if an individual collector has been subjected to an initial background screening within 12 months of the first registration renewal date. A renewal screening is required for all subsequent annual registration renewals.
If this screening process reveals an incident that was not previously reported to the Minnesota Department of Commerce, please email a copy of the legal documents to the Department at licensing.commerce@state.mn.us.