MS Dept of Banking & Consumer Finance
 





Exam General Information Questionnaire

Debt Management Licensing Information

For companies wishing to provide Debt Management services in the state of Mississippi, both applications and renewals are completed through the Nationwide Mortgage Licensing System (NMLS). Please click on the link below in order to be transferred to their website. If you have any questions during the application or renewal process through NMLS, please contact the NMLS Call Center at 1-855-NMLS-123 (1-855-665-7123). 

Please click on the NMLS button below to be transferred to the NMLS website.

License period is January 1 to December 31 and is not pro-rated for application made during the license period.

Minimum Requirements

  1. $750 initial license fee, $475 renewal license fee
  2. $50,000 surety bond issued for appropriate licensing period or $50,000 cash, CD, or government bond in lieu of surety bond
  3. Financial Statement as of the most recent fiscal year
  4. Registered with Mississippi Secretary of State as required by law
  5. Description of the transactions and activities to be conducted
  6. Copy of applicant's IRS Exemption Letter, if non-proft entity
  7. Copy of Agreement between license and consumer
  8. Copy of Applicants fee schedule
  9. Copy or servicing contracts/agreements between licenseee and any third party (i.e Outsource)
  10. Narrative explaining the manner in which client payments are processed
  11. List of all education/courses and products offered to consumers with the costs of each

Forms to Update Existing Office(s

Debt Management Application for Name Change - PDF
Debt Management Application for Relocation of Existing Office - PDF

If you have any questions, please call (601) 321-6901.