You must have a Debt Collection Agency License to collect personal or household debts from New York City residents.
You are required to get a license if you are:
- An attorney or law firm who regularly engages in activities that are usually performed by debt collectors
- A debt buyer business that buys old debt and then tries to collect money directly or through a third party
Both in-State and out-of-State agencies are required to have a NYC license to collect debts owed by NYC residents.
Fee
The fee for the full two-year license term is $150.
Expiration Date
The license expires January 31 in odd-numbered years.
Translation and Language Access in Debt Collection
As of 2020, before collecting on a debt, debt collectors must notify customers of any translation or language access services available.
Collectors must also:
- Notify customers, in any initial collection notice and on their website, of a glossary of debt collection terms that is available in multiple languages on DCWP's website at
- Keep track of any time a consumer tells the debt collector of their preferred language
- Provide accurate and complete translations when collecting debt in a language other than English
New Rules for Debt Collectors
On Monday, August 12, 2024, DCWP published new debt collection rules relating to debt in . These rules go into effect December 1, 2024.
