Debt Management Companies - DFI
Debt Management Companies - DFI
Debt Management Companies

This License is required of any person, that for compensation, engages in whole or in part in the business of receiving money as an agent of a debtor for the purpose of distributing the same to creditors in payment of obligations.

Who is exempt from this License?  Please review A.R.S. § 6-702

Inquiries concerning the preparation and filing of License and renewal applications with the Department should be directed to the Licensing Division at 602-771-2800 or e-mail at [email protected] .  For more detailed contact information, see the “Contact Us” tab.

Forms and Fees

Application Fees and Forms for Debt Management Companies
Arizona Revised Statues §6-126 et seq. & 6-706

The following nonrefundable fees are payable to the department with the filing of the following applications:

Application Fees and Forms for Debt Management Companies
DESCRIPTION FEES FORMS
New Application 
 
$500.00 + License Fee (based upon submission date):

Jan, Feb, Mar: $250.00
April, May, June: $625.00*
July, Aug, Sept: $500.00
Oct, Nov, Dec: $375.00

Fees are nonrefundable.
*Fee includes the following year renewal fee.

 

Branch Office Application
 
$250.00 + License Fee (based upon submission date):

Jan, Feb, Mar: $100.00
April, May, June: $250.00*
July, Aug, Sept: $200.00
Oct, Nov, Dec: $150.00

Fees are nonrefundable.
*Fee includes the following year renewal fee.

License Renewal
License Year: 07/01 - 06/30
Renewal Due: 05/01 - 06/15

$500.00 HO
$200.00 each branch

Fees are nonrefundable.

Address Change No Fee

Name Change
 
$250.00
Change of Control/Ownership change (“COC”) No Fee
Officer Change No Fee
License Surrender No Fee
Duplicate License
 
No Fee
Required Reports
Required Reports

Debt Management Company Annual Report (A.A.C. R20-4-603)

Due 8/15 annually

 
Laws, Rules, Substantive Policy Statements & Regulatory Alerts

Arizona Revised Statutes

Article     In General

6-701            Definitions

6-702          Exemptions

6-703          License required

6-704         Application for license; bonds; contract

6-705          Branch offices and agencies

6-706          Fees

6-707          Issuance of license; display; cancellation on termination

6-708          Denial; revocation or suspension of license

6-709         Requirements

6-710         Prohibitions

6-714         Advertising

6-715          Prohibitions

6-716           Fees collected

 

Arizona Administrative Code Title 20

ARTICLE 6. DEBT MANAGEMENT COMPANIES
Section
R20-4-602. Applications
R20-4-607. Budget Analysis
R20-4-611. Advertising
R20-4-612. Solvency and Minimum Liquid Assets

 

Substantive Policy Statements 
ARTICLE 1. General Administration

APPLICATIONS GE-1 
CREDIT REPORTS/ARREST RECORDS  APPLICATIONS 

Regulatory Alerts 
N/A

Examinations

It is the policy of AZDFI to select the most effective and efficient methods of conducting examinations so that significant risks affecting safety and soundness, as well as substantive statutory compliance, can be identified and, if necessary, appropriate supervisory action taken.  Judgment must be utilized to ensure that necessary procedures are performed and ineffective activities are avoided.

The examination fee in accordance with A.R.S. 6-125 is not more than sixty-five dollars per hour for each examiner.  The assessment late penalty is fifty dollars for each day after the thirty day period the enterprise fails to remit the assessment not to exceed the examination assessment amount.

Pursuant to A.R.S. 6-122(3) examination frequency is at the superintendent’s discretion.

For questions concerning examination of your company or license, please contact the Financial Enterprise Division at 602-771-2777 or e-mail to [email protected].

Debt Management Companies - NMLS

Note: Companies holding these license types are encouraged to submit a license transition request through NMLS by filing a Company Form (MU1) and an Individual Form (MU2) for each of their control persons.  Additionally, for each branch holding these license types, companies are encouraged to complete and submit a Branch Form (MU3). Click here for more information.

This License is required of any person, that for compensation, engages in whole or in part in the business of receiving money as an agent of a debtor for the purpose of distributing the same to creditors in payment of obligations.

Who is exempt from this License?  Please review A.R.S. § 6-702

Company Licenses Description Requirements Checklist Debt Management License This license will become available in NMLS starting May 1st, 2017. This License is required of any person that for compensation, engages in whole or in part in the business of receiving money as an agent of a debtor for the purpose of distributing the same to creditors in payment of obligations. Who is exempt from this License? Please review A.R.S. § 6-702 (More Details) Branch Licenses Description Requirements Checklist Debt Management Branch License This license will become available in NMLS starting May 1st, 2017. This License is required of any person that for compensation, engages in whole or in part in the business of receiving money as an agent of a debtor for the purpose of distributing the same to creditors in payment of obligations. Who is exempt from this License? Please review A.R.S. § 6-702 (More Details)

Debt Management Companies - DFI