Index: OFR 2026 - 505

DOCKETED 10/22/2026 LEGAL BH

STATE OF FLORIDA
OFFICE OF FINANCIAL REGULATION

In Re:
COLLECTION RECEIVABLES, INC.,
Case Number: 142487
Petitioner.

FINAL ORDER

This cause came on for consideration and final agency action. Upon review of the record and being otherwise fully advised in the premises, the Office of Financial Regulation ("Office") hereby finds:

1. The Office has jurisdiction over the subject matter of this case and the parties hereto.

2. The entry of this Final Order concludes the above-referenced matter.

ORDERED:

A. The Stipulation and Consent Agreement (Exhibit A) is hereby approved and incorporated by reference as if fully stated herein and is adopted as the Office's Findings of Fact and Conclusions of Law.

B. The parties shall comply with all terms of the Stipulation and Consent Agreement.

DONE and ORDERED this 22nd day of October, 2026, in Tallahassee, Leon County, Florida.

Russell C. Weigel, III Commissioner

CERTIFICATE OF SERVICE

I HEREBY CERTIFY that a true and correct copy of the foregoing Final Order was furnished to Collection Receivables, Inc. by U.S. Mail to 803 Shartom Dr., Augusta, GA 30907, and by electronic mail to emily@criaugusta.com on this 22nd day of October, 2026.

Agency Clerk
Office of Financial Regulation
Post Office Box 8050
Tallahassee, FL 32314-8050
Email: Agency.Clerk@flofr.gov
Tel: (850) 410-9889
.Clerk@flofr.gov
Tel: (850) 410-9889

Exhibit A

STATE OF FLORIDA
OFFICE OF FINANCIAL REGULATION

In Re:
COLLECTION RECEIVABLES, INC.,
Petitioner.
Case Number: 142487

STIPULATION AND CONSENT AGREEMENT

The State of Florida, Office of Financial Regulation ("Office"), and COLLECTION RECEIVABLES, INC. ("Petitioner"), in consideration of the mutual promises herein, recite, stipulate, and agree as follows:

1. Background. Based on disclosures made by Petitioner during the application process, the Office determined Petitioner engaged in unregistered consumer collection agency activity during the period of January 1, 2022, through June 8, 2026. At all times material, Kathy Woodruff is and has been the President, Director, and Sole Owner of Collection Receivables, Inc.

In lieu of initiating a formal proceeding, the parties herein resolve the matters at issue.

2. Jurisdiction. The Office is the state agency charged with the administration and enforcement of Part VI, chapter 559, Florida Statutes, and the rules promulgated thereunder. The Office has jurisdiction to bring this administrative action against Petitioners pursuant to chapter 559, Florida Statutes.

3. Findings. For purposes of this Stipulation and Consent Agreement, Petitioner consents to the Office making a finding that during the period of January 1, 2022, through June 8, 2026, Petitioner engaged in unregistered consumer collection agency activity, in violation of section 559.730(l)(h), Florida Statutes.

4. Terms and Conditions. The parties agree that the issues raised can be expeditiously resolved without further litigation by the execution of this Stipulation and Consent Agreement. The parties acknowledge that they have read this Stipulation and Consent Agreement and fully understand the rights, obligations, terms, duties, and responsibilities with respect to its contents. Therefore, in compromise and settlement of the foregoing findings and in consideration of the Office's forbearance from further litigation, Petitioner agrees to the following terms and conditions:

a. FUTURE COMPLIANCE. Petitioner agrees that it shall cease and desist from future violations of chapter 559, Florida Statutes, and the rules promulgated thereunder, and comply with all the provisions of chapter 559, Florida Statutes, and the rules promulgated pursuant thereto.

b. ADMINISTRATIVE FINE. Petitioner agrees to pay the Office an administrative fine in the amount of Five Thousand Dollars ($5,000.00), to be paid at the time of the execution and delivery of this Stipulation and Consent Agreement.

This administrative fine shall be submitted in the form of a wire, cashier's check, or money order made payable to "Office of Financial Regulation ". Such payment shall reference Case Number 142487 and shall be sent to the attention of Agency Clerk-c/o Margo A. DuVal, Post Office Box 8050, Tallahassee, Florida 32314-8050. Petitioner acknowledges and agrees that in accordance with section 215.31, Florida Statutes, regarding the deposit of monies, (i) the tendered fine or settlement check may be deposited in advance of full execution or acceptance of the Stipulation and Consent Agreement; and (ii) such deposit shall not be construed as a final acceptance of the Stipulation and Consent Agreement absent full execution thereof and entry of a Final Order adopting same.

c. LICENSURE. The Office shall approve Petitioner's consumer collection agency application and issue the registration within one business day of the date of the Final Order adopting this Stipulation and Consent Agreement.

5. Final Order. Petitioner consents to the entry of a Final Order, which incorporates the terms of this Stipulation and Consent Agreement. Petitioner understands and agrees that this Stipulation and Consent Agreement is subject to the final approval of the Office of Financial Regulation and the entry of a Final Order adopting such Agreement. If the Final Order is not entered, this Stipulation and Consent Agreement shall be null and void. The Final Order incorporating this Stipulation and Consent Agreement constitutes final action by the Office for which the Office may seek enforcement pursuant to the provisions of chapters 559 and 120, Florida Statutes.

6. Waiver. By Petitioner's consent to the entry of a Final Order with respect to this proceeding, Petitioner waives:

a) Any right to separately stated Findings of Fact and Conclusions of Law;

b) Any right to receipt of a Notice of Rights pursuant to chapter 120, Florida Statutes;

c) Any right to an administrative hearing or issuance of a Recommended Order pursuant to chapter 120, Florida Statutes; and

d) Any right to contest in any administrative forum or judicial proceeding (including, but not limited to, an appeal pursuant to section 120.68, Florida Statutes) the validity of any term, condition, obligation, or duty expressly created in this Stipulation and Consent Agreement and the Final Order.

7. Releases. Upon full execution of this Stipulation and Consent Agreement, Petitioner waives, releases, and forever discharges the Office and its agents, representatives, and employees from all causes of action, in law or in equity, which Petitioner may have arising out of this matter. The Office accepts this release and waiver by Petitioner on behalf of itself, its agents, representatives, and employees without acknowledging, and expressly denying, that any such right or cause of action may exist.

8. Failure to Comply. Petitioner acknowledges, concurs, and stipulates that Petitioner's failure to comply with any of the terms, obligations and conditions of this Stipulation and Consent Agreement, and the Final Order adopting it, is a violation of the written agreement and the Final Order entered pursuant to chapters 120 and 559, Florida Statutes. Such noncompliance may result in the issuance of an emergency cease and desist order. However, nothing herein shall be construed to limit Petitioner's right to contest any finding or determination of noncompliance.

9. Attorney's Fees. Each party herein shall be solely responsible for its separate costs and attorney's fees incurred in the prosecution, defense, or negotiations in this matter up to and including the entry of the Final Order adopting this Stipulation and Consent Agreement.

10. Severability. The parties agree that if any provision of this Stipulation and Consent Agreement or the application thereof to any person or circumstance is held invalid, the Stipulation and Consent Agreement will be given effect without the invalid provision, and to this end, the provisions of this Stipulation and Consent Agreement are declared severable.

11. Counterparts. This Stipulation and Consent Agreement may be executed in any number of counterparts, and by the parties in separate counterparts, each of which will be deemed to be an original but all of which together will constitute but one Stipulation and Consent Agreement. Copies of this Stipulation and Consent Agreement transmitted by facsimile or electronic mail shall have the same validity as if bearing an original signature.

12. Entire Agreement. This Stipulation and Consent Agreement represents the entire agreement by and between Petitioner and the Office. Any alterations, variations, changes, modifications, or waivers of the provisions hereof shall be valid only when they have been reduced to writing, duly signed by the Office and Petitioner hereto, attached to the original of this Stipulation and Consent Agreement, and subject to the approval of the Office.

WHEREFORE, in consideration of the foregoing, the Office and Petitioner execute this Stipulation and Consent Agreement for entry of a Final Order on the last date executed below.

[this space intentionally left blank with signatures appearing on the following page]

COLLECTION RECEIVABLES, INC.:
Date: 10-14-26
Name: Kathy Woodruff
Title: President. Director, and Sole Owner
County of Richmond
State of GA of
GA
Richmond

Richmond

GA

Date: 10-14-26

(Signature)

Kathy Woodruff, as President, Director, and Sole Owner of Collection Receivables, Inc., BEFORE ME by means of ☑ physical presence or ☐ online notarization, has sworn (or affirmed) that she has read and understands the foregoing agreement and voluntarily signed the same.

SWORN TO AND SUBSCRIBED before me this 14th day of October , 2026.

Notary Public

October

14th

Check the appropriate box:
Personally known ☑
OR Produced Identification ☐
Type of identification produced ☐ Driver's License ☐ Passport ☐ Other ________ (Do not include ID number)

LINDA E CLARK
Notary Public - State of Georgia
Richmond County
My Commission Expires Sep 17, 2028

OFFICE OF FINANCIAL REGULATION

Date:
10/20/2026
Bill Morin, Interim Director
Division of Consumer Finance

Bill Morin