Collection Agency Bond Overview

The collection agency bond is a surety bond that guarantees a collection agency’s compliance with regulations pertaining to their license in the state in which they operate. The bond’s function is to make sure that funds collected by an agency are collected in a proper manner and rightfully distributed to their clients. It protects the state and the public from collection agencies that misuse collected funds or make use of threats in order to collect debts.

Since each state creates its own rules for licensing, the exact guarantee that the bond extends varies from state to state. But in general the collection agency bond guarantees that the collection agency will adhere to the rules and regulations of their license with the state.

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Though collection agencies are viewed by some as a higher risk line of business, Bryant Surety Bonds can offer excellent standard market rates. We also have a few specialty programs that allow us to fit many of our higher risk applicants into middle markets rates. In fact, many of our applicants will receive free instant approvals when they apply through our online application. Apply now and let’s get started!

Find the Bond You Need

The table below contains a list of only the most popular surety bonds. If you can't find yours, fill out our online application and select "Not in the list".

Alaska Collection Agency Alaska Dept. of Commerce Apply Now
Arizona Collection Agency Dept of Financial Institutions Apply Now
Arizona Collection Agency Bond Apply Now
Arkansas Collection Agency State Board of Collection Agencies Apply Now
Colorado Collection Agency Collection Agency Board Apply Now
Connecticut Collection Agency K Commissioner of Banking Apply Now
Florida Collection Agency Office of Financial Regulation Apply Now
Hawaii Collection Agency Bond State of Hawaii Apply Now
Idaho Collection Agency Dept of Finance Apply Now
Illinois Collection Agency Dept of Professional Regulation Apply Now
Indiana Collection Agency State Board of Accounts Apply Now
Local Government City of Buffalo Collection Agency Bond City of Buffalo, Dept of Economic Development Apply Now
Local Government DCA Licensing Center Debt Collection Agency NYC - DCA Licensing Center Apply Now
Maine Debt Collector/Repossession (Continuous) Office of Consumer Credit Regulation Apply Now
Maryland Collection Agency Commissioner of Financial Regulation Apply Now
Massachusetts ,000 Collection Agency Massachusetts Division of Banks Apply Now
Michigan Collection Agency Bureau of Commercial Services, Licensing Division Apply Now
Michigan Non-Depository Sales Finance Company and/or Out-O Department of Insurance and Financial Services Apply Now
Michigan Depository Financial Institution - Sales Finance C Department of Insurance and Financial Services Apply Now
Minnesota Collection Agency (Corp/LLC) Commissioner,Dept of Commerce Apply Now
Minnesota Collection Agency (Partnership) Commissioner,Dept of Commerce Apply Now
Minnesota Collection Agency (Sole Prop.) Commissioner,Dept of Commerce Apply Now
Nebraska Collection Agency License Bond NE Collection Agency Licensing Board Apply Now
Nevada COLLECTION AGENCY State of Nevada Business & Industry Dept Apply Now
Nevada Collection Agency Bond Department of Business and Industry Apply Now
New Jersey Collection Agency Deputy Attorney General Apply Now
New Mexico Collection Agency Corporate Bond Finance Institutions Division Apply Now
New York Collection Agency Bond(City of Buffalo, NY) Office of Licenses Apply Now
New York Collection Agency Bond (New York City) NYC Department of Consumer Affairs Apply Now
North Carolina 2013-2014 New Domestic Collection Agency Bond Dept of Insurance Apply Now
North Dakota Collection Agency Dept of Financial Institutions, Consumer Division Apply Now
Oregon Collection Agency Dept of Consumer & Buisness Services Apply Now
Other (Gryphon Corp.) Client Contract Bond Gryphon Corp. Apply Now
Pennsylvania Credit Services Organization Bond department of state Apply Now
Rhode Island Collection Agency State of Rhode Island Apply Now
State of Hawaii Collection Agency Director, DCCA, PVL, Licensing Branch Apply Now
Tennessee Collection Service License Bond Tennessee Department of commerce and Insurance Apply Now
Tennessee Collection Agency Bond Tennessee Department of Commerce and Insurance Apply Now
Tennessee Collection Service License Tennessee Department of Commerce Apply Now
Tennessee Credit Services Organization Bond Director of Tennessee Division of Consumer Affairs Apply Now
Texas Third Party Debt Collector Secretary of State, Statutory Documents Section Apply Now
Texas Private Child Support Enforcement Agencies Bond Texas Department of Banking Apply Now
Utah Collection Agency Dept of Commerce Apply Now
Washington Collection Agency Business and Professions Division, Collection Agen Apply Now
West Virginia Collection Agency Tax Dept, Internal Auditing Division Apply Now
Wisconsin Collection Agency Dept of Financial Institutions Apply Now
Wyoming Collection Agency Collections Agency Board Apply Now

Collection Agency Bond Cost

A collection agency bond’s cost is a fraction of the total bond amount. Every surety bond has a bonding amount, and for collection agency bonds these amounts are usually set at the state level. What percentage or rate you will be offered by a surety depends on a number of financial factors, with personal credit score being the most important.

This percentage, at standard market rates, is usually between 1%-4% of the total bond amount for applicants who have a high credit score. How much exactly you will have to pay will therefore depend on the particular bond you need to get. You may pay as little as $150, the minimum possible bond cost, in order to obtain a $10,000 collection agency bond.

Your bond’s cost is also determined by your choice of surety. Different companies will offer you different rates. Bryant Surety Bonds’ exclusive advantage is the fact that we work only with A-rated and T-listed surety bond companies - the best companies in the country. These give us access to exclusive rates, which are often unmatched by anyone else. What’s more, these companies are the most secure backers of a surety bond you could want!

Use the calculator below to get a ballpark estimate of your premium.

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Want to know more about surety bond cost? Find out more about what determines your bond’s cost and how you can lower it over time through our expert surety bond cost guide!

Bad Credit Collection Agency Bond Program

Those who have trouble with their credit score or have no credit at all, may find it hard to get bonded. Our Bad Credit Surety Bond Program makes it possible for applicants with less-than-perfect credit to get a collection agency bond at good rates.

Your personal credit profile as well as the amount of your bond will determine the exact rate that you will be offered. Rates under our bad credit program are usually higher, due to a higher risk involved in bonding applicants with poor credit. However, you can still expect to get the best possible and lowest rate that applies to your unique situation. Apply now and get a free quote!

How to Get Your Collection Agency Bond

To get your collection agency bond you simply need to apply online. Once your application is processed we will get back to you with a free ‘no obligations’ quote on your bond. Most applicants are processed very quickly, and many are approved almost instantly.

If you have difficulties with your application or need advice and guidance, call us at (866) 450-3412! Our surety bond professionals are available to speak to you at all times and can respond to any questions you may have about collection agency bonds. Call us, we’ll be happy to help!

Click on your state in the map below for more information about bonding requirements in your state.

About the author:
Todd Bryant
Todd Bryant is a graduate of Germantown Academy and the University of Pittsburgh College of Business Administration Honors College. He has been President of Bryant Surety Bonds, Inc., an A+ rated Business with the Better Business Bureau, since 2007. Licensed as a producer with the Department of Insurance, he has been published in the National Association of Surety Bond Producers newsletter and on numerous authoritative publications such as The Washington Post,, and many more.