Collection Agencies are no longer required to have a specific state license and bond. Collection Agencies do have laws they must follow and provisions may apply to creditors, as well as anyone who sell forms for debt collection. Creditors may also be required to comply with California's Fair Debt Collection Practices Act SEE CIVIL CODE SECTION 1788-1788.3. Attorneys are excluded because they are covered by State Bar provisions [B&P 6077.5]

Collection Agencies may have to comply with the California's Consumer Credit Reporting Agencies Act if dealing with Credit Reporting.

California's has the Unfair Business Practices Act, which you may review at the following link: California Business & Professions Code Section 17000-17002. This Law can be used by the Attorney General, District Attorneys Office, and Others to obtain an injunction and/or utilize in cases remedies involving Unlawful, Unfair, or Fraudulent Business Practices.

Assigned Accounts See CALIFORNIA CODE OF CIVIL PROCEDURE

Certain types of transactions, concerning the collection of assigned accounts may be specifically permitted, or specifically not permitted. In Otherwords, A Collection Agency may not file a Small Claims Court action to recover accounts assigned by a creditor.(California Code of Civil Procedure Section 116.420).

Interest Rate(s): Legal 10% - Judgment 10% or Unless Contracted Otherwise

Debt Collection Statute of Limitations:
Open Acct. Reduced to writing 4 Years, Not in writing 2 Years. Written Contract 4Years in California. - Domestic Judgments 10 Years and renewable at 10 Years - Foreign Judgments 10 Years commencing with judgment and debtors commencement of a California residence.