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FAQ for Debt Collectors and Creditors/Assignees

1.   Why does Iowa law require notification fees?

The purpose of assessing these fees is to ensure that all debt collectors and creditors and assignees contribute to the cost of enforcing the Iowa Consumer Credit Code (ICCC), and the law stipulates that all fee money collected be put to that use.

2.  How much  notification fee?

The 2017 Iowa Legislature increased the notification fee for ICCC debt collectors and creditor/assignee effective July 1, 2017. The new fee is $50 (up from $10). The volume fee calculations on the creditor/assignee notification form remains the same.

3.   How do I update my contact information (address, contact person, branch location) after filing?

If your company changes their main address or if the contact person changes, please send written notification (email notice is fine) to our office. We do not need to know about any corporate structure changes or changes with officers unless the physical address or contact person changes. If a branch location changes, please notify us in writing as well. There is no fee associated with any of these changes.

Please send the notice of changes to:

Iowa Attorney General
Consumer Protection Division
Attn: Notification & Fees Administrator
1305 E. Walnut St.
Des Moines, IA 50319


4.   Are skip tracers required to file notification?

Generally, no, as long as the skip tracer is not attempting to collect the debt.

However, Iowa requires private investigators to obtain a license and bond (Iowa Code chapter 80A). This chapter covers a broad range of activities, including obtaining information on the "habits, Conduct, movements, whereabouts, associations, transactions, reputations, or character of a person." (Iowa Code section 80A.1(6)). Therefore, certain traditional debt collection activities, such as skip-tracing, might require licensing under this statute. If you have any questions about chapter 80A, please consult legal counsel or the Iowa Department of Public Safety (515-725-6196).

5.   What is an Iowa Registered Agent? Do I need one?

An Iowa Registered Agent is someone on whom the Iowa Attorney General or a private party could serve papers in the event of a lawsuit.

Your company needs an Iowa Registered Agent if the principal office is located outside that state of Iowa. See Iowa Code section 537.6202(1)(f).

6.   When is my notification filing due?

Annual notification must be filed every year by January 31. Notifications received more than 30 days after the due date will be assessed a $75.00 late fee.  Notification filing  for the next year begins November 1.

7.   Where do I send my notification?

If you are not completing your notification online, your completed notification filing form and payment should be sent to:

Iowa Attorney General
Consumer Protection Division
Attn: Notification & Fees Administrator
1305 E. Walnut St.
Des Moines, IA 50319

8.   Who do I make my check payable to?

Checks should be made payable to “Iowa Consumer Credit Administration Fund” and should be mailed with your completed annual notification form. 

9.   How do I know if my notification has been approved?

Approved notifications will be processed and available online approximately 20 business days after their receipt. If your notification is rejected, you will be contacted by our staff to remedy any errors. 

10.   Do separate branches or divisions of my company need to file notification too?

No. Separate branches or divisions can simply be listed on your companies single notification form if the branches have the same name as the primary business and are owned by the same person.

11.   Will I be mailed a license after filing?

No. Filers will not receive a confirmation, notice or hard copy license. You will be contacted by our office if your filing is rejected. Approved notifications will be processed and available for viewing online approximately 20 business days after their receipt. 

12.   How often am I required to file notification with the Attorney General of Iowa?

Debt collectors and Creditor/Assignees are required to file notification annually. Reminders will be sent in early December and must be filed every year by January 31. Notifications received more than 30 days after the due date will be assessed a $75.00 late fee.  

13.   How do I surrender my notification?

All intents to surrender notification must be in writing (email is allowed) and mailed into our office. The letter must include the name of the company and the date the company will cease to participate in consumer credit transactions with Iowa consumers. Please send cancellation notice to:

Iowa Attorney General
Consumer Protection Division
Attn: Notification & Fees Administrator
1305 E. Walnut St.
Des Moines, IA 50319


The following relate specifically to the Creditor/Assignee Form, only:

1.   What are volume fees?

A creditor/assignee is subject to volume fees if they hold the paper on the consumer credit transaction. Volume fees are based on the average unpaid balance owed. 

2.   How do I calculate volume fees?

Volume fees are calculated based on the average monthly balance owed for the previous 12 months of transactions. To determine your average monthly balance, calculate the dollar amount owed to your company by Iowa consumers at the end of each of the previous 12 months. Total the average balance for each month and divide by twelve to get the average for the year. Compare the average monthly balance to the volume fee table below or on the notification form to determine the correct volume fee.

For example, a creditor whose average monthly unpaid balance over the preceding year was $105,000 would owe a volume fee of $10, while a creditor whose average monthly unpaid balance was $130,000 would owe $20. Please see Table 1 below for more examples. The administrative rule provides additional information on how to calculate these fees. 

Table 1: Examples of Volume Fee Rates

Average Monthly Unpaid Balance Volume Fee Owed
$1 - $109,999 $10
$110,000 - $209,999 $20
$210,000 - $309,999 $30
$310,000 - $409,999 $40
$410,000 + $10 per $100,000 owed

3.   Is the volume fee the same as my notification fee?

No. They are two separate fees. The notification fee is always $50.00 and is required from every creditor/assignee filing notification with our office. Creditors/Assignees who own the paper for consumer credit transactions must pay a volume fee based on the average unpaid balance of all consumer credit transactions. The volume fee could change over the years due to fluctuation in the amount of unpaid balances owed.

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