NRS 649 Collection Agency Guide

Updated October 12, 2026. General information, not legal advice. Source: Nevada Legislature, NRS Chapter 649. Consult qualified Nevada counsel for an account-specific decision.

What is NRS 649?

NRS Chapter 649 is Nevada's collection agency framework. It governs licensing of collection agencies (NRS 649.075 and related provisions), examination by the Nevada Financial Institutions Division (FID), trust accounting requirements, recordkeeping, disclosure to debtors, dispute handling under NRS 649.332, and special medical debt provisions added by SB 248 (NRS 649.366–649.368).

Why It Matters to Your Business

If you're placing accounts with a collection agency, you have a legal interest in confirming that the agency is properly licensed and operating in compliance. An agency operating outside NRS 649 puts your accounts at risk — your receivables could be subject to dispute, your credit reporting could be unwound, and in extreme cases your business could be drawn into litigation involving the agency's non-compliance.

Verifying Agency Licensing

• NMLS Consumer Access — Search at nmlsconsumeraccess.org by company name or NMLS ID. Vegas Valley Collection Service is NMLS ID 2364012.
• Nevada FID — The Nevada Financial Institutions Division maintains a licensee list and handles complaints against licensed agencies.
• Bond verification — Licensed agencies are required to post a surety bond. Ask the agency for proof of current bond.

Key NRS 649 Provisions for Clients

Licensing & Examination (NRS 649.075, 649.135 and 649.335)

Collection agencies must be licensed by the Nevada FID. Each licensed agency has a compliance manager who has passed Nevada-specific licensing requirements. The FID periodically examines licensed agencies for compliance.

Trust Accounting (NRS 649.355)

NRS 649.355 governs separate customer trust accounts, transaction records and remittance requirements, subject to the section's stated exception. NRS 649.345 concerns annual reports to the regulator; it is not the trust-account provision.

Verification of Claims (NRS 649.332)

NRS 649.332 requires an agency verifying a claim to obtain or attempt to obtain creditor documents reasonably responsive to the dispute and mail documents it obtains. For covered consumer debts, a written dispute within the FDCPA validation period triggers a collection pause until verification is mailed under 15 U.S.C. 1692g(b). The Nevada section is not a blanket pause rule for every dispute. See how to dispute or verify an account.

Recordkeeping (NRS 649.335)

NRS 649.335 requires account records to be retained for at least six years after the last transaction and provides for regulatory examinations.

Compliance Manager (NRS 649.305)

NRS 649.305 requires a collection agency to operate with a compliance manager. It is not the source of the federal initial validation notice. For covered consumer debts, see Regulation F's validation information requirements.

Medical Debt Provisions (NRS 649.366–649.369)

The medical debt provisions address advance notification, voluntary payments and prohibited practices. They require a separate review for medical accounts; this general guide does not confirm whether a particular account is accepted for placement.

Compliance Questions to Check

• Confirm the agency's current Nevada license and the scope of the work it proposes.
• Ask how the agency verifies disputed claims, handles applicable federal validation rights and protects customer funds.
• Get fees, expense approvals, reporting and remittance terms in the written agreement.
• For medical accounts, obtain advice on the specific notice and fee restrictions before collection activity.

What to Ask Your Agency

1. What's your Nevada FID license number and NMLS ID?
2. Who is your designated Nevada compliance manager?
3. How is your fee structure compliant with NRS 649.368?
4. What's your dispute response process under NRS 649.332?
5. Where are client trust funds held?
6. Have you been examined by the FID? When was your last examination?

Clear answers are a starting point, not proof of compliance. Check the current license record, written agreement and supporting documentation. Read our agency selection checklist and company information.