Does Your Backup Person Meet State Licensing Requirements?

Nearly every organization is forced to deal with the unexpected departure of a member of their management team. While it does create somewhat of a fire drill, someone else can typically be ready to step in on short notice and take over the vacated position with little or no negative impact on the organization’s daily activities.

Unfortunately, changes like these are not as easily remedied in an industry as regulated as the ARM industry. Many agencies suddenly find themselves out of compliance by not understanding the impact that the sudden departure of a senior level employee may have on their debt collection licenses. Here is one example.

What if the person who is no longer with your organization is listed as your agency’s collection manager with the various state licensing departments?

View this content by subscribing

Please register to unlock this content

I already have an account. Log in