Collection Agency License Bond | Collection Bond | Debt collector bond | Surety Bond
Collection agency bond
A Collection agency license bond is a Surety bond, which is required before the collection agency can engage in the business of collections. This bond guarantees the accountability of funds received by the collection agents and all duties and taxes collected will be properly distributed. The bond also guarantees that the Collection agency will comply with all fair and legal debit collection practices. This bond is also called a debt collector bond.
Here are a few state specific bonds
| State | Surety Bond | Bond Amount | Obligee | Bond Form | More info |
|---|---|---|---|---|---|
| Alaska | Collection Agency Bond | $5,000.00 | Alaska Division Of Corporations | Alaska Collection Agency Bond Form | Alaska Collection Agency Bond |
| Arizona | Collection Agency Bond | $25,000.00 | Arizona Department Of Financial Institutions | Arizona Collection Agency Bond Form | Arizona Collection Agency Bond |
| Arkansas | Collection Agency Bond | $5,000.00 | Arkansas Board Of Collection Agencies | Arkansas Collection Agency Bond Form | Arkansas Collection Agency Bond |
| Colorado | Collection Agency Bond | $20,000.00 | Collection Agency Board | Colorado Collection Agency Bond Form | Colorado Collection Agency Bond |
| Connecticut | Collection Agency Bond | $5,000.00 | Commissioner Of Banking Of The State Of Connecticut | Connecticut Collection Agency Bond Form | Connecticut Collection Agency Bond |
| Florida | Collection Agency Bond | $50,000.00 | Florida Collection Agency Bond Form | Florida Collection Agency Bond | |
| Hawaii | Collection Agency Bond | $25,000.00 | State Of Hawaii Dcca Pvl Licensing Branch | Hawaii Collection Agency Bond Form | Hawaii Collection Agency Bond |
| Idaho | Collection Agency Bond | $15,000.00 | State Of Idaho Department Of Finance | Idaho Collection Agency Bond Form | Idaho Collection Agency Bond |
| Illinois | Collection Agency Bond | $25,000.00 | Director Of The Division Of Professional Regulation | Illinois Collection Agency Bond Form | Illinois Collection Agency Bond |
| Indiana | Collection Agency Bond | $5,000.00 | Indiana Professional Licensing Agency | Indiana Collection Agency Bond | |
| Louisiana | Collection Agency Bond | $10,000.00 | Louisiana Commissioner Of Financial Institutions | Louisiana Collection Agency Bond | |
| Maine | Collection Agency Bond | $50,000.00 | Maine Superintendent Of The Bureau Of Consumer Credit Protection | Maine Collection Agency Bond Form | Maine Collection Agency Bond |
| Maryland | Collection Agency Bond | $5,000.00 | Maryland Commissioner Of Financial Regulation | Maryland Collection Agency Bond Form | Maryland Collection Agency Bond |
| Massachusetts | Collection Agency Bond | $10,000.00 | Treasurer And Receiver-General Of The Commonwealth Of Massachusetts | Massachusetts Collection Agency Bond Form | Massachusetts Collection Agency Bond |
| Michigan | Collection Agency Bond | $10,000.00 | Michigan Department Of Labor & Economic Growth Bureau Of Commercial Services Licensing Division Personnel Agency Board | Michigan Collection Agency Bond Form | Michigan Collection Agency Bond |
| Minnesota | Collection Agency (Corp) Bond | $20,000.00 | Department Of Commerce State Of Minnesota | Minnesota Collection Agency (Corp) Bond Form | Minnesota Collection Agency (Corp) Bond |
| Minnesota | Collection Agency (Ind) Bond | $20,000.00 | Department Of Commerce State Of Minnesota | Minnesota Collection Agency (Ind) Bond Form | Minnesota Collection Agency (Ind) Bond |
| Minnesota | Collection Agency (Org) Bond | $20,000.00 | Department Of Commerce State Of Minnesota | Minnesota Collection Agency (Org) Bond Form | Minnesota Collection Agency (Org) Bond |
| Minnesota | Collection Agency (Partner) Bond | $20,000.00 | Department Of Commerce State Of Minnesota | Minnesota Collection Agency (Partner) Bond Form | Minnesota Collection Agency (Partner) Bond |
| Nebraska | Collection Agency Bond | $5,000.00 | State Of Nebraska | Nebraska Collection Agency Bond Form | Nebraska Collection Agency Bond |
| Nevada | Collection Agency Bond | $35,000.00 | Nevada Department Of Business And Industry | Nevada Collection Agency Bond | |
| New Jersey | Collection Agency Bond | $5,000.00 | New Jersey Division Of Revenue Cab Unit | New Jersey Collection Agency Bond Form | New Jersey Collection Agency Bond |
| New Mexico | Collection Agency Bond | $5,000.00 | Financial Institution Division | New Mexico Collection Agency Bond Form | New Mexico Collection Agency Bond |
| New York | Collection Agency Bond | $5,000.00 | City Of Buffalo New York Department Of Permits | New York Collection Agency Bond Form | New York Collection Agency Bond |
| North Carolina | Collection Agency Bond | $10,000 - $170,000 | Commissioner Of Insurance Of The State Of North Carolina | North Carolina Collection Agency Bond Form | North Carolina Collection Agency Bond |
| North Dakota | Collection Agency Bond | $20,000.00 | State Of North Dakota Department Of Financial Institutions | North Dakota Collection Agency Bond Form | North Dakota Collection Agency Bond |
| Oregon | Collection Agency Bond | $10,000.00 | Department Of Consumer And Business Services | Oregon Collection Agency Bond Form | Oregon Collection Agency Bond |
| Tennessee | Collection Agency Bond | $15,000.00 | State Of Tennessee | Tennessee Collection Agency Bond Form | Tennessee Collection Agency Bond |
| Texas | Collection Agency Bond | $10,000.00 | Secretary Of State Statutory Documents Secton | Texas Collection Agency Bond | |
| Utah | Collection Agency Bond | $10,000.00 | State Of Utah | Utah Collection Agency Bond Form | Utah Collection Agency Bond |
| Virginia | Collection Agency Bond | State Of Virginia | Virginia Collection Agency Bond | ||
| Washington | Collection Agency Bond | $5,000.00 | State Of Washington Collection Agency | Washington Collection Agency Bond Form | Washington Collection Agency Bond |
| West Virginia | Collection Agency Bond | $5,000.00 | State Of West Virginia Department Of Tax And Revenue | West Virginia Collection Agency Bond Form | West Virginia Collection Agency Bond |
| Wisconsin | Collection Agency Bond | $15,000.00 | State Of Wisconsin Department Of Financial Institution | Wisconsin Collection Agency Bond | |
| Wyoming | Collection Agency Bond | $10,000.00 | State Of Wyoming | Wyoming Collection Agency Bond |
If you or your business needs help in obtaining a surety bond or commercial insurance give us a call!