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July 1, 2014

FAQ - Debt Collectors

1.      What do the notification fees go towards?

The purpose of assessing these fees is to ensure that all creditors and assignees contribute to
the cost of enforcing the ICCC, and the law stipulates that all fee money collected be put to
that use.

 

2.      How do I update my contact information after filing?

 

Changes should be submitted in writing and include the name of the company, the previous, incorrect information and the updated, current information.  Changes can be sent to:

 

Iowa Attorney General

Consumer Protection Division

Attn: Notification & Fees Administrator

1305 E. Walnut St.

Des Moines, IA 50319

 

3.      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).

 

4.      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.

 

5.      When is my notification filing due?
 

Annual notification must be filed by January 31st.  Notifications received more than 30 days after the due date will be assessed a $25.00 late fee. 

 

6.      Where do I send my notification?

 

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

 

7.      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.

 

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

 

Approved notifications will be processed and available online at [Click Here] approximately 15 business days after their receipt.  If your notification is rejected, you will be contacted by our staff to remedy any errors.

 

9.      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.

 

 

10.  Will I be mailed a license after filing?

 

No.  Filers will not receive a confirmation, notice or hard copy license.  You will be contact by our office if your filing is rejected.  Approved notifications will be processed and available for viewing online at [Click Here] approximately 15 business days after their receipt.

 

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

 

Debt collectors are required to file notification annually.  Reminders will be sent in early December and must be filed by January 31.
 

12.  How do I surrender my notification?


All intents to surrender notification must be in writing 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 mail cancellation notice to:

 

Iowa Attorney General

Consumer Protection Division

Attn: Notification & Fees Administrator

1305 E. Walnut St.

Des Moines, IA 50319

 

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