Collection Agency Licensing Requirements
Entities in Massachusetts engaged in collecting debts for others must obtain a collection agency license from the Division and adhere to regulations and provisions governing such agencies, pursuant to Mass. Gen. Laws chapter 93, section 24. It is the Division's position that a corporation intending to purchase delinquent consumer debts from original creditors and intending to collect debts on its own account, not on behalf of others, need not obtain a collection agency license, under said chapter 93 § 24. However, as a creditor collecting its own debts, a corporation is subject to regulations promulgated by the Attorney General at 940 CMR 7.00 et. seq.