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 nyc.gov/dcwp
- 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
Learn more about debt collection resources available in multiple languages.
New Rules for Debt Collectors
On Monday, August 12, 2024, DCWP published new debt collection rules relating to debt in The City Record. These rules go into effect December 1, 2024.
Learn more about the new debt collection rules.
