Wyoming Administrative Code Agency 031 - Collection Agency Board
🧾 What Is a Collection Agency?
A collection agency is a business that collects unpaid debts on behalf of others. This might include:
Consumer debts (e.g., credit cards, medical bills)
Commercial debts
Legal judgments
These agencies act as third parties trying to recover money owed to original creditors.
🏛️ What Is the Collection Agency Board (Agency 031)?
The Collection Agency Board is a Wyoming state government agency tasked with:
Licensing collection agencies and their agents
Monitoring ethical practices in debt collection
Enforcing compliance with administrative rules
Investigating complaints or violations
It ensures that debt collectors operate fairly, transparently, and professionally when dealing with consumers or businesses.
🔍 Key Functions of the Board
1. Licensing
The Board grants licenses to:
Collection agencies doing business in Wyoming
Individual collectors (sometimes called agents or representatives)
Licensing ensures that only qualified and vetted individuals or firms are allowed to collect debts in the state.
2. License Renewal & Maintenance
Licenses typically need to be renewed annually or on a set schedule.
Agencies must maintain records, business addresses, and bond coverage as required.
3. Setting Standards of Conduct
The Board establishes professional standards, including:
Ethical treatment of debtors
Restrictions on harassment, threats, or deception
Guidelines for how often and when a debtor can be contacted
Requirements for maintaining proper business records
4. Investigations & Enforcement
If a consumer or business files a complaint about a collection agency, the Board can:
Launch an investigation
Require documents and responses from the accused agency
Conduct hearings or disciplinary reviews
Impose penalties (e.g., license suspension, fines, or revocation)
5. Bonding Requirements
Collection agencies may be required to:
Maintain a surety bond — a form of financial guarantee — in case they act unlawfully or mishandle funds.
File proof of bond annually or upon licensing.
This protects consumers from dishonest or fraudulent practices.
👤 Who Needs to Register?
Any collection agency based in Wyoming
Any out-of-state collection agency operating in Wyoming (e.g., contacting residents to collect debts)
Debt collectors working for an agency (sometimes depending on structure)
🗂️ Example Topics the Board Might Regulate
| Category | What’s Included |
|---|---|
| Licensing | Forms, fees, background checks, application process |
| Conduct | Rules about communication, written notices, prohibited practices |
| Complaints | Procedures for filing and resolving grievances |
| Discipline | Grounds for license suspension or revocation |
| Recordkeeping | Timeframes for keeping account records and documentation |
| Bonding | Minimum bond amounts and acceptable insurers |
👥 Who Sits on the Board?
The Board is generally composed of members appointed by the state government. These may include:
Licensed professionals from the collection industry
Public representatives (non-industry members)
Possibly legal or consumer protection experts
They meet regularly to:
Review applications
Hear complaints or disciplinary cases
Amend or adopt new administrative rules
📝 Summary
The Wyoming Collection Agency Board (Agency 031) oversees the regulation of businesses and individuals engaged in collecting debts within the state. Its role includes licensing, compliance enforcement, consumer protection, and standard-setting to ensure ethical, legal, and professional conduct in the debt collection industry.
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