Potential Minnesota Shut Down Will Impact Collection Agencies

Government shut-downs are hot hot hot this year. Everyone who’s anyone is doing it. Or trying. Mostly trying.

The latest belle to this weird ball is Minnesota, who’s facing a July 1 deadline to decide if it is, or isn’t going to shut down.

The Minnesota Independent has a rundown of what might or might not be happening in Minnesota come tomorrow — but the item that’s probably of most interest to insideARM.com readers is what effect the shut-down will have on the collections industry. ACA International is also sounding the warning bells for the ARM industry over the potential shutdown.

If the state shuts down — well, for one thing, it will be the first state/government to so, beating out Wisconsin and the United States government. But collections specifically: this means collection agencies won’t be able to register new employees with the state, or apply for/renew/update their licenses.

This is not to say that current collection agencies licensed in Minnesota will not be able to keep trucking. However, it will effect collection agencies’ ability to hire new Minnesota collectors or make any amendments to their current license(s).

A Ramsey County judge recently ruled that Minnesota’s core services must remain open if the shutdown occurs.

If you’re one of our Minnesota readers, we would love to hear what impact the potential state shutdown will have on you and your business. Share your thoughts in the comments below.