Though they are among the top filers of collection lawsuits in Massachusetts,
neither company is registered as required by law with the state Division of Banks,
which is charged with oversight of debt collection companies. Through their attorney,
the Goldstones claim they are exempt because they purchase the debts they try to collect, and do not collect debts for other creditors. But David J. Cotney, chief operating officer for the Massachusetts Division of Banks, said every company in the state that collects defaulted debt, including Norfolk and Commonwealth, must be licensed. ''I don't know what basis they would use to exclude themselves,'' he said.
http://www.boston.com/news/special/spotlight_debt/part1/page4.html
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