What is a Collection Agency Bond?
Collection agency bonds are legally binding contracts that protect your clients, and are generally required to operate legally. If you do not follow state regulations, 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.
If you're unsure whether you need a bond, you can select your state from the list below to view the bond requirements.
If you need help with obtaining your license or determining the bond requirements, you can check out our collection agency license guide.
How Much Do Collection Agency Bonds Cost?
Costs are a small percentage of the required bond amount (usually 1-15%). If you would like to learn more about what surety bonds are and how they work, you can read our detailed guide here.
Frequently Asked Questions
Apply and get approved on our website, sign the surety agreements, and we will ship the bond out. If you would like to learn more about what surety bonds are and how they work, you can read our detailed guide here.
Yes, it’s possible, but bad credit usually results in higher rates.
Yes. We provide the lowest rates possible as a result of the large volume of bonds we write.
You must contact us immediately, as we have a team of claim specialists here to find a resolution for you. Keep in mind, it is crucial that you work with an expert in the surety industry. Learn more about how to ensure you choose the proper bond company.