North Carolina 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 North Carolina. 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.
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!
North Carolina Collection Agency Bond Cost
A collection agency bond’s cost is a fraction of the total bond amount. 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 0.75%-2.5% of the total bond amount for applicants who have a high credit score.
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!
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 in North Carolina. 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 North Carolina 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!