Is it legal for an attorney to own a collection agency?

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Is it legal for an attorney to own a collection agency?

Also, when they call, they say, “This is Mr. so-and-so calling from the law office of XYZ. Shouldn’t they be saying they are calling from ABC collection agency. Is this okay or can it be “interpreted” as some kind of violation?

Asked on July 18, 2011 under Bankruptcy Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Many attorneys who practice in acertain area of the law own businesses in connection with the practice of the area of the law they engage in. It is not unusual for attorneys who practice debt collection law to own a colelction agency as part of the attorney's general practice.

For example many attorneys who practice real estate law are licensed real estate agents or brokers. Likewise, there are licensed attorneys who are also licensed engineers who own engineering companys and practice construction law.

As long as the attorney who owns a collection agency is not engaging in any illegal activity in connection with the collection agency's operation, he or she can do so. As long as the attorney calling makes no mistatements in the conversation and is not deceptive, he or she need not say they are calling from a collection agency.


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