Introduction to Creditor Registration

Some retailers act as creditors, financing the sales of their goods and services by allowing their customers to make payments over time.

Examples:
boat and motorcycle dealers 
furniture and carpet retailers
home improvement and air conditioner sales and service companies
some medical offices, etc.

Texas law requires creditors  who originate, service, or collect on retail installment agreements to register with the Office of Consumer Credit Commissioner (OCCC) within 60 days from the time they begin financing. 

Retailers that provide financing through third-party lenders and retailers that fund the financing themselves are required to register with the OCCC.

Retailers that accept only full payment on the spot do not need to register with the OCCC.

Registration

Register online with ALECS

If you are paying the late filing fee of $250 for not registering before you began acting as a creditor, you will also need to pay the renewal fee for each year your business  provided financing without being registered.

All applications for a new registration must now be submitted through the online system "ALECS" (Application, Licensing, Examination, Compliance System). Any paper application received that is postmarked September 1, 2015 or later will be returned to the applicant with instructions for re-filing.

Changes

Please make changes in ALECS 

Renewal Information

Renew online with ALECS 

Renewals will also be mailed in October.

Step by Step How to Guide- Online Renewal

Renewal fees:
$10 for creditors whose financing is governed by Chapter 345 of the Texas Finance Code (most common)

Advisory Bulletins

OCCC Notice on Retail Installment Contracts (Jan. 15, 2016)
Motorcycle Dealers: Registration and Documentary Fees (July 22, 2014)
Increased Documentary Fee (Aug. 27, 2013)

Statutes & Rules

These are the primary statutes and rules that apply to registered creditors. This is not a complete list of laws that registered creditors are required to comply with.

Primary State Statute
Chapter 345, Texas Finance Code: Retail Installment Sales

OCCC's Rules
Title 7, Chapter 86, Texas Administrative Code

Other State Statutes
Texas Legislature Online

Federal Statutes & Rules
U.S. Government Publishing Office