If I'm understanding things accurately, basically, if you live in the state of Georgia the CA is not required not license or bond requirments? Right??? However, they are STILL bound by the FCRA??
It appears that they do not have to be licensed, but DO have to be bonded. No collection agency in GA can buy debts, they must be acting as an agent of the collector. And CA's ALWAYS must adhere to the FDCPA!! States may make tougher laws, but the FDCPA is the minimum standard that all CA's must follow. From http://www.lawdog.com/states/ga/st1c.htm Collection Agency Licensing Requirements: The Official Code of Georgia contains no provisions regarding licensing requirements of a collection agency. However, the general agency laws of Georgia should be reviewed by counsel. (e.g. see Section 10-1-100 et.seq. of the Official Code of Georgia). Section 10-6-100 of the Official Code of Georgia requires that any person, corporation, partnership, association, or any other entity which engages in the collection of money from others as an agent for a third party post a bond as as security in the amount of $50,000.00 with the clerk of the superior court in the county in which its principal place of business is located. This requirement is waived if the the number of payments handled by such person, corporation, partnership, association, or other entity is fewer than 20 payments per month and a written authorization to conduct such collection activities as an agent for the third party is obtained. Any person who fails to post a bond may be guilty of a misdemeanor and may be punished by a fine of not less than $300 nor more than $3,000, or by imprisonment for not more than six months, or both. (Section 10-6-102.) Debt collectors should also discuss with counsel the provisions of Rules and Regulations of the State of Georgia Section 120-1-14 et.seq., Amended UNFAIR TRADE PRACTICES. One section is reproduced below: 120-1-14-.25 Use of Debt Collectors; Agreement. Every creditor shall be presumed to know that any debt collector engaged by the creditor will be an agent of the creditor and will be acting for and in behalf of the creditor in connection with the collection of any debt allegedly owed the creditor. Every creditor shall be absolutely responsible for observance of these rules and regulations by the debt collector in connection with all activities of the debt collector so far as they are taken in collecting or attempting to collect any debt allegedly owed to the creditor, and it shall be no defense to the creditor that any violation complained of was not an activity of the creditor himself or itself. Before engaging any debt collector, a creditor shall require the debt collector (or a responsible officer of the debt collector) to execute a sworn certificate under the penalty of perjury, that he has read and understands each and all of these rules and regulations pertaining to debt collection and that each and all of them will be carefully observed in the activities of the debt collector.
