Collection Agency Bonds

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Collection Agency Bond Guide 

Most states require collection agencies to obtain a surety bond before they can receive their business license. Learn how collection agency bonds work and where to get one in this guide. 

What Is a Bonded Collection Agency?

Collection agencies collect debts and regularly manage sensitive data, such as a consumer’s personal information and financial details. Because of this, a collection agency is regarded as a high-risk company and needs to be bonded. 

What Is a Collection Agency Bond?

A collection agency bond ensures the credibility and dependability of an agency. The surety bond creates a legal contract that ensures collection agencies properly handle money from outstanding debts and ensure the funds are routed to the right company. 

Why Buy Your Bond From is the nation’s top surety provider. We offer the best service, fastest delivery and most affordable collection agency bonds in the industry. 

How Much Does a Collection Agency Bond Cost?

Bond amounts and regulations for collection agency licenses are established at the state level. In 85% of states, collection agencies pay a $100 premium for the required $10,000 bond coverage. If your state requires a different bond amount, your premium will vary depending on the exact value.

For example, collection agencies in New Jersey must buy a $5,000 surety bond for $100 while Florida collection agencies need $50,000 in coverage, starting at $300. 

Select your state below for information specific to your area:

How Do Collection Agency Surety Bonds Work?

All surety bonds are legally binding contracts involving three parties:

  1. Obligee: The state department that requires the bond
  2. Principal: The collection agency that purchases the bond
  3. Surety: The provider that issues the bond and backs the principal

If a collection agency misappropriates funds, the obligee can seek reimbursement by filing a claim. The surety must pay reparation for valid claims up to the full bond amount. Then, the surety will seek reimbursement from the collection agency.

How to Obtain a Collection Agency Bond

Apply online or call 1 (800) 308-4358. The specialists at will find you the most affordable rate available — no matter your credit score. 

Once you pay your premium, we’ll issue and mail your bond immediately. If you need bond by the next day, simply choose our overnight shipping option.

Call 1 (800) 308-4358 to talk with a Surety Expert