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Debt Collections

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.

Notice for Collection Agencies: The changes highlighted below are effective June 1, 2022.



Subd. 3. Term. Licenses issued or renewed and registrations received by the commissioner of commerce under sections 332.31to 332.44 shall expire on June 30. Each collection agency license shall plainly state the name and business address of the licensee, and shall be posted in a conspicuous place in the office where the business is transacted. The fee for each collection agency license is $500, and renewal is $400. The fee for each collector registration and renewal is $10, which entitles the individual collector to work at a licensee’s business location or in another location as provided under subdivision 5b. An additional branch license is not required for a location used under subdivision 5b. A collection agency licensee who desires to carry on business in more than one place shall procure a license for each place where the business is to be conducted.


Subd. 5b. Work from home. An employee of a licensed collection agency may work from a location other than the licensee's business location if the licensee and employee comply with all requirements under this section that would apply if the employee were working at the business location.

Notice and FAQ for Debt Buyers

Under recent changes to Minnesota law, debt buyers must now be licensed in Minnesota. The license required is a collection agency license. Please see this FAQ for a description of requirements and procedures. The associated session law can be viewed here.

Affiliated Company Form

Use this form to notify the Minnesota Department of Commerce that your licensed collection agency has one or more affiliated companies that meet this entire definition: “Affiliated Company means a company that: (1) directly or indirectly controls, is controlled by, or is under common control with another company or companies; (2) has the same executive management team or owner that exerts control over the business operations of the company; (3) maintains a uniform network of corporate and compliance policies and procedures; and (4) does not engage in active collection of debts.

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