Illinois Debt Management license
Illinois Requires Debt Management companies to be Licensed
Illinois Debt Management licensing: Illinois requires companies to be licensed as a Debt Management company. Companies must also still comply with federal, state and local laws. Other licenses or permits may be required depending on the nature of each particular business.
Certificate of Authority
With certain limited exceptions, an Illinois Certificate of Authority is required if a company does business in Illinois regardless of where the company is located.
A certificate of authority (also known as a certificate of registration) is a document that the State of Illinois requires companies not incorporated in Illinois to obtain before “transacting business” within the state borders of Illinois.
License Fees
The filing fee for getting licensed as a Debt Management license in Illinois is: $160 plus a fee to conduct a background check.
The filing fee for getting licensed as a Debt Settlement license in Illinois is: $1,350 plus a fee to conduct a background check.
The filing fee for a foreign limited liability company to register an Illinois Certificate of Authority is $150.
The filing fee for a foreign corporation to register an Illinois Certificate of Authority is $150.
Do you want to check on other states’ requirements for obtaining a New Debt Management license? Click here.
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Want to verify if an existing company is licensed in Illinois as a Debt Management company? Click here.