Collections

Tennessee Collection Service Board

Purpose

The Collection Service Board was created in 1981 to regulate the collection industry in the State of Tennessee. The current requirements for the licensure of collection agencies can be found in Tennessee Code Annotated, Title 62, Chapter 20.

Mission

The mission of the Collection Service Board is to protect the public health, safety and welfare through the regulation of collection agencies.

Apply / Renew License Verify a License Helpful Resources

Financial Review

An application for an initial collection service agency or renewal of a collection service agency must include a current set of financial statements prepared by an Active CPA/PA; financial statements including a report from an independent accountant may also suffice.

Licensees are required to maintain a trust account by statute; if not verified within the financial statements, bank statements may be submitted to confirm the balance stated per TCA 62-20-114.