Collection Agency Bond Guide

Why do you need a collection agency bond?

You are required to obtain a bond for your collection agency to protect the public. If you do not follow state laws, a claim can be filed on your bond. For example, if you use harassment such as inappropriate threats to collect debts, a claim can be made.

Top 5 Things You Need To Know


Frequent Questions

Apply on our website, get instantly approved online and sign the surety agreements. We will then ship your bond out to you.

Many states require collection agency agents to obtain a license and get bonded. However, requirements vary by state. Check our state requirement list to see if your state is listed. If it is not, contact your state to determine the bond requirements as changes in legislation do occur.

Working with the wrong bond agency, it is possible to reach your surety credit limitations before you are licensed nationwide. However, we offer bulk underwriting programs which raise your surety credit limits so you can usually obtain as many bonds as you need online.

It is dependent on your bonding needs. If you only need a small to moderate dollar amount of bonds, our agency bases your rate on the owner's personal credit. A better credit score equates to a lower rate. If you need bonds in numerous states items such as business financials, business credit, personal financials, and experience are reviewed in addition to the owner's personal credit. Any lacking items would need improvement for a better rate.

You must contact the surety company's claims department and provide evidence that the claim is false. We can provide the surety company contact information if needed. Watch our video to learn more about bond claims.


Surety Bonds do not protect you

The bond is a form of insurance for your clients, which is why many businesses proudly list that they are bonded on their marketing material. However, you will be required to reimburse the bonding company should a claim be paid out.


Why you must avoid claims at all costs


Fidelity Bonds protect your business

You can protect your business from employee theft and fraud by purchasing a fidelity bond. You can read more in our fidelity bond section.

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    Step 2: Choose Your Bond

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Bond costs vary by applicant, bond amount, bond type & the agency you choose. You can get a general idea of costs using our Quick Estimate tool to the right or an exact quote instantly online!

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When it comes to surety bond insurance, there is safety in numbers. As the largest volume writer in the country, we are able to obtain the lowest rates from the strongest bonding company partners.

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