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Collection Agency Bond
Collection agencies are considered high risk companies for a number of reasons, particularly their negative reputation with the public. They are required to handle sensitive financial information and collect debts from people who are often reluctant to pay.

Because of the difficulty and risk inherent in their work, collection agencies require a special bond type, called a collection agency bond, to protect their client and themselves.

Why is a Collection Agency Bond required?
Collection agency bonds are designed to ensure ethical behavior and reliability when collecting debts. They guarantee that the debt collectors will act within the law and treat their clients fairly. A collection agency bond is required in order to be licensed for debt collecting in any state.

What does a Collection Agency Bond cost?
The cost of collection agency bonds depends on market value and state. Each state has different laws and costs concerning debt collection. The credit score of the agency's owner is also a factor in determining cost of the bond. A good credit score can give a rate of 1-3% of the total bond amount, while bad credit may give a rate of 5-15%, or higher.

Can I get a Collection Agency Bond even if I have bad credit?
Suretegrity offers bond programs for clients with low credit ratings. We approve most bond applications instantly and will be happy to talk with you about your situation. Will my Collection Agency Bond apply in multiple states?

No, you need a separate bond for every state you conduct business in. Each state has different laws and requirements concerning collection agency bonds.

How can I get a Collection Agency Bond?
Simply click the “Buy a Bond” button and select your bond type and state. Fill in your information and you can get instantly approved. Most applications are instantly approved with no waiting period.

If you have any questions about surety bonds, the bond process, or what Suretegrity can do for you, don't hesitate to call us. We look forward to your business.

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