Collection Agency Licence
Financial and Consumer Services Commission
Overview
Collection agencies and their individual collectors are required to be licenced under this Act.
Eligibility
In order to be licensed a collection agency must complete the required applications, provide the required bond of $10,000, submit all letters to be used in the collection of debt, and provide proof of the existence of a trust account. The agency must also provide an address for service in New Brunswick.
Description
The Act prohibits harsh or abusive collection methods and provides penalties for violations including the suspension of licences. The Act allows the Financial and Consumer Services Commission to examine financial records and investigate complaints. The Commission may suspend or cancel a licence for a violation of this legislation.
Fees
Unless otherwise specified, Fees exclude the harmonized sales tax (HST).
| Fee Description | Rate in $ | Effective Date YYYY-MM-DD | |
|---|---|---|---|
| Annual licence fees for collections agencies and collectors are: | |||
| 0-3 collectors | 300.00 | 1984-10-23 | |
| 4+ collectors | 500.00 | 1984-10-23 | |
| Branch office | 100.00 | 1984-10-23 | |
| Individual collector | 25.00 | 1984-10-23 | |
| Contact Information | Location | |
|---|---|---|
|
Fredericton
|