Massachusetts PROHIBITS Debt Management Companies
Pursuant to Massachusetts law, Mass. Gen. Laws. Ann.180,§4A, Debt management companies are prohibited from operating in Massachusetts . Read the statute here.
Changes affect your Certificate of Authority
If you want to engage in a business other than a debt management business, then with certain limited exceptions, a Massachusetts Certificate of Authority may require an update if you make changes to your company. Such changes requiring notification typically including changing your business address, changing your officers or directors or making other similar changes.
Debt management companies are NOT ALLOWED to operate in Massachusetts per statute.
FOR BUSINESSES OTHER THAN DEBT MANAGEMENT COMPANIES:
The filing fee for updating changes to a Massachusetts Certificate of Authority is $150.
Do you want to check on other states’ requirements for making changes to a Debt Management license? Click here.
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Want to verify if an existing company is licensed in another state as a Debt Management company? Click here.