- Application Process to obtain a Wyoming collection agency license
- License Renewal Process
- Certificate of Exemption Application
A bond in the amount of $10,000 is required for each licensed agency. A blank form to be used in securing a bond is provided, along with a detailed instruction sheet - please be sure to follow these instructions carefully.
When you submit your completed collection agency license application to our office, it will be necessary that you also enclose a separate letter giving a detailed description of the method of soliciting and collecting accounts in Wyoming, together with copies of contracts, assignments, debtor notices, and other forms used in the conduct of your business.
A standard agreement or policy statement governing all relevant terms and conditions of the agreement between the agency and its clients, including provisions for remittance and cancellation and return of accounts, shall be reduced to writing and a copy provided to clients and the Collection Agency Board.
A resident manager is required for all licensed collection agencies operating in Wyoming. All new resident managers must satisfactorily complete a resident manager examination which will cover the material in the Wyoming Collection Agency Laws and Rules, and the Federal Fair Debt Collection Practices Act. The examination is an open book examination and will be forwarded to qualified applicants via e-mail. In addition, the proposed resident manager must have at least one year of experience in the collection business.
A resident manager may serve as resident manager for up to ten (10) agencies in the State of Wyoming. At the bottom of this page is a list of qualified resident managers prepared to serve as a resident manager for additional collection agencies in this state.
- Effective January 1, 2012, three (3) Professional Reference forms must be included with the application
- Effective January 1, 2012, a Bank
Reference form must be included with the application for each bank account
listed on the Bank Account Information form
Business Type - Please select your business type - all applicants must complete the appropriate business type form
- Individuals and Sole Proprietorship's
- General Partnership, Joint Ventures, and Limited Liability
- Limited Partnerships and Limited Liability Limited
- Limited Liability Companies
Surety Bond Form - All applicants must complete.
Bond Check List - Provides pertinent information for proper completion of the surety bond.
After reading the
instructions below, the license renewal application is located at the bottom of
Please DO NOT complete the License Renewal application if you have already filed your renewal application.
Submitting your renewal application does not mean that your license is automatically renewed.
- Complete the Bank Account Information form.
- Attach a current copy of the required "Certificate of Continued Coverage" for your $10, 000.00 bond from the Surety Company.
- Form B1 Business Information needs to be completed in its entirety including all "required" fields.
- Submit the completed Collection Agency renewal using the contact information provided in your license renewal letter. Upon receipt of the renewal and approval of your application, the Collection Agency Board will mail your renewed license to your resident manager. Please do NOT submit your license renewal application by mail if you or your resident manager have successfully submitted your application already. Submitting duplicate applications will create delays in renewal of your license.
- Please return by mail with your renewal application the required renewal fee ($150.00) made payable to the "Collection Agency Board".
If you feel your agency may not require a collection agency license for the State of Wyoming, please complete the Certificate of Exemption application (located at bottom of this page) and forward it to the Collection Agency Board for review. The Board will provide written notification of your company's exemption status for the State of Wyoming. If the Board determines a license is needed, you will be required to obtain this license prior to conducting collection business in this state.
The Board recommends all entities monitor changes made to Wyoming statutes and regulations governing collection agencies as this may change an entity's exemption status or the need to obtain a license.