Michigan Collection Agency Bond

Michigan Collection Agency Bond

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What is an Michigan Collection Agency Bond? 

Michigan Collection Agency/Debt Collector Bond's are required by Michigan's Department of Licensing and Regulatory Affairs to obtain your Michigan Collection Agency/Debt Collector Bond. The Michigan Collection Agency Bond amount is set at $5,000. 

The State requires a Collection Agency bond for:  

a $5,000 surety bond


Different parts of a bond:

There are 3 parts to a Collection Agency surety bond. The Principal "YOU", The Surety Company, and the Obligee. The Principal is the business or individual applying for the Collection Agency Surety Bond. The Obligee is the individual or entity requiring the Surety Bond and the Surety Company is the company who provides the Surety Bond coverage.

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You can buy your Michigan Collection Agency Bond (Apply) online immediately

Michigan Collection Agency Bond Information and Requirements:

To purchase this bond, you must have a Michigan Collection Agency/Debt Collector License. They can be licensed by the Department of Licensing and Regulatory Affairs of Michigan State.