Frequently Asked Questions
Industry Management Systems provides answers to the most common questions our clients ask about licensing, renewals, and compliance. This page brings together information from all of our service areas to help collection agencies and debt buyers better understand how our process works and what to expect when partnering with us.
Collection Agency Licensing
Collection Agency Licensing
Debt Buyer Licensing
Debt Buyer Licensing
Timelines depend on each state’s review process and your application readiness. Approval timelines vary by state and jurisdiction, and while IMS cannot change state timelines, our expertise helps reduce unnecessary delays by ensuring every document is accurate, complete, and compliant before submission.
Yes, we specialize in managing large, multi-state licensing efforts simultaneously. This coordinated approach saves your team time and ensures accuracy and consistency across all jurisdictions.
Missing a renewal can result in fines, suspension, or loss of authorization to collect. IMS prevents this with automated tracking, proactive alerts, and full renewal management, ensuring your business runs without interruption.
Absolutely. Our experts advise on operational compliance, policy development, and outsourced Chief Compliance Officer (CCO) support. This ongoing partnership helps agencies build stronger systems and reduce regulatory risk over time.
We track licensing completion rates, turnaround times, and client satisfaction to continuously refine our process. Success means your agency is licensed faster, more accurately, and with fewer administrative burdens.
Licensing requirements differ by state, with some mandating specific registrations and others requiring full license applications. IMS maintains current information for all jurisdictions, helping you understand exactly where and how to file.
Each state and jurisdiction has its own review timeline. While IMS cannot control the approval speed, we help avoid unnecessary delays by ensuring your applications are accurate and complete before submission.
Yes. IMS provides complete renewal management, including document preparation, submission, and tracking. We also handle quarterly and annual reports to maintain full compliance.
IMS supports multi-state expansion projects and manages concurrent submissions. Our team ensures all state-specific requirements are met so your growth plans stay on schedule.
Yes. IMS offers policy and procedure development, operational compliance consulting, and outsourced Chief Compliance Officer (CCO) services for agencies and debt buyers.
Licensing Management
Professional Services & RMAI Certification
We maintain a centralized renewal calendar and send proactive alerts well in advance of each deadline. Our team manages every step from preparation to submission so no renewal is ever missed.
Yes. We specialize in multi-state license management and renewals for both collection agencies and debt buyers. Our process ensures accuracy and consistency across all jurisdictions.
We prepare and file quarterly and annual reports, as well as any state-specific filings required for license maintenance. Our specialists verify details before submission to prevent rejections.
Yes. We store digital copies of all licenses, filings, and supporting materials for easy access. This ensures that your agency is always audit-ready.
Our team monitors regulatory updates and adjusts renewal requirements or procedures accordingly. You are always informed of changes that could affect your business.
Licensing Management
RMAI certification is a voluntary industry standard that demonstrates your organization’s commitment to ethical and compliant operations. It is recognized by clients and regulators as a mark of professionalism and accountability.
We assist with documentation reviews, policy alignment, and application preparation. Our consultants ensure all certification criteria are met before submission, reducing the risk of delays or rejections.
Our outsourced CCO service includes compliance program management, training oversight, risk assessment, and regulatory communication. We act as your compliance leader, providing consistent accountability and expertise.
Policies should be reviewed at least annually or when regulations change. Industry Management Systems monitors these changes and recommends updates to keep your organization compliant.
Yes. We provide guidance for additional certifications and regulatory audits, offering full-service compliance consulting across all major industry frameworks.
Professional Services & RMAI Certification
Insurance
Bond Services
Our Insurance partners are able to write policies for your business needs including Errors and Omissions, Cyber Security, General Liability, Umbrella, Owners Policies, and Workers Compensation.
Licensing Management
