Amends and repeals existing law to revise the licensing requirements for collection agencies and to provide that collection agencies may collect incidental charges included in a contract between a creditor and debtor.

The purpose of this legislation is to add a provision to allow collection agencies to collect incidental charges included in the contract between the creditor and the debtor. Additionally, the legislation makes the licensing process for collection agents, debt counselors, credit counselors, and credit repair entities similar to other entities licensed by the Idaho Department of Finance by requiring the use of a nationwide system of licensing and allowing for reinstatement of expired applications. Further, the legislation removes branch registration requirements and extends licensing requirements to branch locations and increases license and renewal application fees. Finally, the legislation eliminates quarterly agent reporting requirements and the associated fees for quarterly reporting.