State Debt Collection Regulations
Hawaii Debt Collection Licensing
- All Debt Collectors are required to be licensed under the Collection Agencies Act (Chapter 443B of the Hawaii Revised Statutes)
- Difficult to navigate without the help of licensing experts like Cornerstone
- Non-compliance with licensing requirements may result in hefty fines
hi Debt Collection Requirements
LICENSE
bond
$25k
exemptions
background check
Collector Registration
resident manager
The fastest path to a Debt Collection License in hawaii is
Cornerstone Licensing
- Specialists to guide you through the complexities of licensing
- Plans customized to provide the coverage you specifically need
- Experts in helping you reduce liability and avoid costly fines
Key Details
Hawaii Debt Collection Requirements
Licensing
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Regulatory Authority
The Hawaii Department of Commerce & Consumer Affairs – Professional and Vocational Licensing Division mandates all debt collectors be licensed to operate in the state.
Application Process
If you’d like more information about the application process, contact Cornerstone or visit the state regulating site.
Maintaining Licensing
In order to maintain ongoing licensing in Hawaii, an agency must have and maintain a regular active business office and designate a principal collector responsible for daily operation of the office. The bond must be maintained in full. Every agency is subject to 6/30 biennial renewel and required to submit a “Certificate of Good Standing” issued by DCAA.
Penalties for Non-Compliance
Operating without proper licensing could result in fines or being prohibited from conducting business in the state.
Expert Assistance
With so many possible pitfalls and ways to not have a collection agency license approved, many businesses utilize licensing experts like Cornerstone to navigate the process successfully.
Bonds
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Bond Requirement
A surety bond of $$25,000 for the first office and $15,000 for each branch office is required as part of Hawaii’s licensing process. The bond must be maintained through the life of the license. Cornerstone can quickly write this bond for you so you can get back to focusing on growing your business.
Background Check
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Requirements
There is a no background check requirement in Hawaii
Collector Registration
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Requirements
Collector registration is not required in Hawaii
Resident Manager
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There is a resident manager requirement. To be able to conduct collection agency business, an agency must have and maintain a regular active business office in Hawaii.
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Webinar
Mastering Debt Collection Licensing: Navigating State Laws & Avoiding Common Pitfalls
In today’s complex legal landscape, debt collection companies must stay compliant with ever-evolving laws that vary from state to state. Whether you’re already licensed or just starting the process, this webinar is designed to provide practical guidance on managing state-by-state licensing for debt collection. Hosted by Cornerstone Licensing and guest expert attorney, Leslie Bender, we’ll cover best practices for staying compliant, common mistakes to avoid, and how to streamline your licensing processes. With years of combined expertise, we’ll break down the key legal challenges and offer strategies for protecting your business from fines and penalties.
Leslie Bender
Senior Counsel at Eversheds Sutherland
Christy Young Barger
Sr. Director - Licensing at Cornerstone Licensing
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