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Idaho Collection Agency Bond

How much does a collection agency bond cost in Idaho?

Idaho collection agency bonds are required by the Idaho Department of Finance and have a minimum of $15,000. These bonds are subject to underwriting, which means the amount an applicant pays is based on a review of his or her credit report. With strong financial credentials, applicants could qualify to pay as low as 1% of the bond amount!

Don’t let poor credit stop you from getting the bond you need. Our experts work hard to get all applicants bonded for the lowest rates possible. Click here to get started!

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Collection Agency Bond $15,000+ Starts at 1% 4-8% 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.

Submit an online bond request or call 1 (800) 308-4358 to connect with a surety expert! We can provide you with a personalized collection agency bond quote within 1 business day of receiving your application.

Why do I need this bond?

By posting an Idaho surety bond for permittee under the Idaho Collection Agency Act, a company pledges to do business in compliance with the Idaho Collection Agency Act, Idaho Code 26-2221.

Specifically, this bond ensures that the principal (collection agency) does not fail to account for and pay over the proceeds of any collection made or money received for payment or prorating to creditors or fail to return to a debtor any sum received that was not applied to his or her debts.

Ready to get bonded? Get started now!

What’s the fine print?

Idaho collection agency bonds for permittee are continuous until canceled. If the surety has reason to cancel this bond, it must provide 30 days of prior written notice to the Director of the Idaho Department of Finance and to the collection agency.

How to become a collection agency in Idaho

Becoming bonded is just the first step toward becoming a licensed collection agency in Idaho. The following must take place for an applicant to become licensed:

  • pay the application fee
  • obtain a certificate of good standing
  • pay the proper registration fee
  • submit the appropriate forms for each branch of business
  • and more

Complete licensing information can be accessed from the Additional Resources section of this page.

If you’re ready to take the first step toward becoming licensed by getting bonded, submit an online application today. Or, you can give us a call at 1 (800) 308-4358, and one of our experts will contact you right away to walk you through our easy bonding process.

Ready to get started?

Get a FREE Collection Agency Bond Quote Today!

Additional Resources

State of Idaho Department of Finance Surety Bond for Permittee Under the Idaho Collection Agency Act form

Idaho Department of Finance Application for Licensure Under the Idaho Collection Agency Act

Idaho Department of Finance Collection Agency Applications And Forms

Idaho Department of Finance

State of Idaho Legislature Idaho Statutes Title 26 Banks and Banking Chapter 22 Collection Agencies

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