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Debt Collection & Buying

Business Liquidation: A Practical Exit Strategy for Small and Mid-Size Business Owners

Learn how business liquidation works, when to use it, and the steps to close a company effectively.

Cornerstone Licensing team 5 min read
Debt Collection & Buying

Georgia's Debt Collection Rules: Unlicensed and Unbothered?

Do collection agencies have to be licensed in Georgia? The answer might surprise you: No, Georgia does not require collection agencies to obtain a state license. This makes Georgia an outlier in the debt collection industry, where most states have strict licensing requirements. Here's what you need to know: No state licensing required - Georgia [...]

Cornerstone Licensing team 15 min read
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Debt Collection & Buying

Compliance Corner: What Regulators May Expect You To Know About the AI Tools You're Using in Your Collection Agency

AI keeps reshaping financial services, and collection agencies are adding AI tools to streamline operations, strengthen compliance, and improve consumer engagement. With that innovation comes responsibility and a growing need for clarity on legal, ethical, and regulatory questions. Emerging technology like AI is top of mind for state financial services regulators, who increasingly ask how licensees use these tools.

Cornerstone Licensing team 3 min read
Debt Collection & Buying

Beyond the Collection License: When Debt Buyers Need Lender or Servicer Licenses

Why a Collection License Isn't Always Enough For decades, debt collection firms have assumed that once you have a collection agency license, you're cleared to operate. But the reality is more complicated. Regulators are increasingly looking at what kinds of debt you collect and how you collect it. Depending on your portfolio and practices, you [...]

Cornerstone Licensing team 6 min read
Debt Collection & Buying

License-Ready from Day One: A Practical Guide for Debt Collection Startups

Launching a debt collection venture - whether a tech-driven fintech or a traditional call-center outfit - means entering one of the most highly regulated pockets of U.S. financial services. States watch collectors closely because the work touches consumers at a vulnerable moment. Before the first call or email goes out, a new entrant must lock down licenses, bonds, corporate [...]

Cornerstone Licensing team 7 min read
Debt Collection & Buying

Debt Collection Agency License: Key Steps to Licensing Success

What Is a Collection Agency License? A collection agency license, often referred to as a Debt Collection License, is a state-issued permit that authorizes businesses to collect debts - whether on behalf of others or through purchased debt portfolios - from consumers within that state. Unlike federal regulations like the Fair Debt Collection Practices Act (FDCPA), which sets nationwide [...]

Cornerstone Licensing team 7 min read
Debt Collection & Buying

What is Debt Collection Licensing?

The average American consumer carries about $90,460 in debt. That is hard on people, and it is just as hard on lenders when a borrower falls behind. If you want to recover what you are owed, your business may need debt collection licensing first. Here is how the collection licensing process works, including what a digital debt collection license really means.

Cornerstone Licensing team 12 min read

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