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Collection Agency Bond

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Coverage Amount: $50,000
Term Length: 1 year
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Florida Collection Agency Bond Overview

  • Purpose: To hold debt collectors and agencies accountable for following laws and regulations
  • Who Needs It: Licensed debt collectors and agencies in Florida
  • Regulating Body: The Florida Department of Financial Services.
  • Bond Amount: $50,000
  • Minimum Price: $300

What Is a Florida Collection Agency Bond?

The Florida Department of Financial Services (DFS) requires licensed debt collectors and agencies to get a $50,000 surety bond as proof of financial responsibility. 

This bond holds collectors financially responsible and protects clients and debtors from fraud or malpractice.

Who Needs a Collection Agency Bond?

Anyone trying to get a commercial or consumer collection agency license must be bonded according to Florida Law. 

  • Commercial collection agency: Collects commercial claims owed to another person
  • Consumer collection agency: Collects individual consumer debts owed to another person

You’ll need $50,000 surety bond coverage for either license type. 

How Much Do Collection Agency Bonds Cost in Florida?

Florida collection agency bonds vary in cost depending on financial factors like credit score and industry experience. With good credit, you can get your bond for as low as $300. Get your free quote today!

Bond Type
$50,000Collection Agency Bond

SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees. 

How Does a Florida Collection Agency Bond Work? 

When you purchase a collection agency bond, you enter a legal agreement between three parties. 

Bond PartyDescription
1) PrincipalThe licensed collection agency
2) ObligeeThe Florida Department of Financial Services
3) SuretyThe issuing surety provider

If you break debt collection laws, the DFS holds you financially responsible under the surety bond. Any harmed consumers or clients can file a claim on the bond. The surety pays valid claims and you must reimburse the surety.

Florida Collection Agency Bond Overview Purpose: To hold debt collectors and agencies accountable for following laws and regulations Who Needs It: Licensed debt collectors and agencies in Florida Regulating Body: The Florida Department of Financial Services. Bond Amount: $50,000 Minimum Price: $300

How Do I Get a Collection Agency Bond in Florida?

Getting a Florida collection agency bond is simple with SuretyBonds.com. Follow the quick steps below to get your bond:

  1. Apply for a quote online
  2. Receive your free quote within one business day
  3. Purchase your bond
  4. Receive your bond form in the mail
  5. File with the obligee

How Fast Can I Get My Bond?

You can get a quote for your bond within one business day. We’ll mail you the original bond form to file with the DFS. 

We offer overnight, next-day and three-day shipping options. Depending on the shipping you select, you could get your bond as fast as two business days. 

How Do I File My Bond?

You will receive a physical bond form in the mail to file with the Office of Financial Regulation:

Office of Financial Regulation

Bureau of Regulatory Review

200 East Gaines Street

Tallahassee, FL 32399-0376

In addition to filing the original bond form, upload a digital copy to your license application.

Can I Get Bonded With Bad Credit?

If you’re worried about having a lower credit score, SuretyBonds.com works hard to approve 99% of applicants. Read about our Bad Credit Bonding Options for more information.

How Do I Renew My Collection Agency Bond?

Florida collection agency bonds expire annually and can be renewed online. Starting 90 days before the expiration date, you will receive email and text renewal reminders. Just follow the instructions provided and pay the renewal invoice. 

How Do I Update My Bond Information?

You can update basic information on your bond with a bond rider. Email [email protected] with the information that needs to be changed and a representative will assist you.

How to Get a Collection Agency License in Florida

Florida collection agency license applications are managed through Florida’s online services. Complete the following steps to get your license:

  1. Create a REAL Online Services  account
  2. Purchase a $50,000 surety bond
  3. Select the right license application type
  4. Upload a copy of your surety bond
  5. Submit LiveScan fingerprints for all control persons*
  6. Submit the application and $500 fee
  7. File the original bond with the Office of Financial Regulation

*Note: A “control person” is an individual, partnership, or other entity that holds management power. Fingerprinting is done through LiveScan vendors and must be submitted in section three of the license application.

More Resources

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