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Colorado Collection Agency Board Bond

How much does a collection agency bond cost in Colorado?

Collection agencies licensed in Colorado, other than debt buyers, must file a surety bond or assign a cash deposit in an amount between $12,000 and $20,000. The amount of the bond varies depending on the average annual amount collected by the agency. Applicants should verify the amount of bond coverage they need with the state.

SuretyBonds.com offers Colorado collection agency board bonds for different costs depending on underwriting criteria. Since both the amount and price of this bond vary, connecting with a surety specialist is the best way to get a free quote for the collection agency bond you need.

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Collection Agency Board Bond $12,000-20,000 Starts at 1% 3-10% 10%+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

Apply now to get a quote on a Colorado collection agency board bond within 1 business day of applying!

Why do I need this bond?

Colorado debt collector bonds protect clients who placed debts with the collection agency for collection but did not receive remittances of money collected. Specifically, the bond ensures that the agency:

  • accounts for and pays the proceeds of all collections less the charges for collection in accordance with the terms of the agreements made between the licensee and all of its clients
  • turns over to its clients any notes, valuable papers or evidence of indebtedness which might have been deposited with the licensee by its clients as required by law
  • faithfully complies with all requirements of the Colorado Fair Debt Collection Practices Act and the rules and regulations of the Administrator

Ready to get bonded? Apply now!

What’s the fine print?

Colorado collection agency board surety bonds remain continuous until canceled. If the surety decides to terminate the bond, the cancellation will go into effect 30 days after the receipt of notice by the administrator or on a later date stated in the notice.

How to become a collection agency in Colorado?

To become a licensed collection agency in Colorado, applicants must submit the following materials:

  • collection agency license application
  • $500 investigation fee
  • collections manager application
  • notarized affidavit of citizenship/residency
  • ID and/or completed waiver form
  • financial statement for either individual, corporation, limited liability company or partnership
  • and more

Full licensing information can be accessed via the Additional Resources section of this page.

Let us help you get the surety bond you need quickly, easily and accurately. Connect with a surety specialist now!

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Additional Resources

Surety Bond Consumer Protection Section - Collection Agency Regulation Colorado Department of Law form

Collection Agency License Application

Colorado Fair Debt Collection Practices Act and Related Laws

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