To collect or attempt to collect any kind of debt in the state of Hawaii, you will require a collection agency license. This license is issued by the Department of Commerce and Consumer Affairs (DCCA).
As part of the application requirements for your agency license, you will need to register your business in the state, complete an application form, and obtain and submit a Hawaii collection agency bond.
Keep reading for a full guide to getting a Hawaii collection agency license!
1. Obtain a Business Registration
Before you can apply for your collection agency license with the DCCA, you must register your business entity at the Business Registration Division (BREG).
In addition, if you will use a trade name, you must also have it approved by the BREG. You will need to provide proof of such approval during the collection agency license application process.
2. Apply For Your Hawaii Collection Agency License
Once you’re done with the entity registration, you can apply at the DCCA for your collection agency license (also called a registration). The licensing requirements for collection agencies in the state are fairly simple.
Begin by completing the official registration application form. As part of your application you will also need to provide:
- Proof of entity registration in the state and trade name (if applicable)
- Information about any disciplinary actions or criminal convictions
- A Hawaii collection agency license bond
To register a branch office you will need to complete a separate application, and obtain an additional surety bond.
3. Get Your Hawaii Collection Agency Bond
You must post a Hawaii collection agency license bond as part of the licensing process. This bond guarantees that you will comply with Chapter 443B of the Hawaii Revised Statutes.
Applicants for a Hawaii collection agency license must post a $25,000 bond, whereas applicants for a branch office must post a $15,000 bond.
You can get a free quote on your bond by completing the bond form below!
4. Submit Your Application Form and Pay a Fee
When you have completed your application and provided a bond, you can go ahead and submit your application to the DCCA. You will also need to pay a registration fee in the form of a check, made payable to COMMERCE & CONSUMER AFFAIRS. Your fee will vary, depending on the time of your registration:
- $309 registration fee – if you are registering between July 1 of an even-numbered year and June 30 of an odd-numbered year
- $167 registration fee – if you are registering between July 1 of an odd-numbered year and June 30 of an even-numbered year
- $25 registration fee for a branch office
Mail all your documents, along with your surety bond and fee to the following address:
Collection Agencies 335
DCCA, PVL, Licensing Branch
P. O. Box 3469
Honolulu, HI 96801
When your application is reviewed by the Department, you will be notified if it has been approved.
5. Renewing Your Hawaii Collection Agency License
Regardless of the date of issuance of your license, you need to renew it on or before June 30 of each even-numbered year. Licenses are valid for two years after renewal.
As part of your renewal, you will need to submit a “Certificate of Good Standing” from the BREG, as well as a renewal application and a new surety bond.
If you have any questions about the licensing and renewal process for your Hawaii collection agency, contact the DCCA at 808-586-3000!