Regulatory Alerts2014-01-29
Idaho Department of Finance Policy Statement 2014-01: Billing Service Companies and Application of the Idaho Collection Agency Act
The Idaho Department of Finance issued Policy Statement 2014-01 to clarify that billing service companies meeting specific criteria from the Davis v. Professional Business Services, Inc. ruling are exempt from the Idaho Collection Agency Act. The Department defines these exempt entities as those that bill in the creditor's name, do not take account assignments, deposit funds into the creditor's accounts, and refer delinquent accounts to licensed collection agencies. Any entity collecting debts outside these parameters is classified as a collection agency subject to the Act and Department jurisdiction.
Share