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Indiana Collection Agency Bond

How much does a collection agency surety bond cost in Indiana?

Indiana collection agency surety bonds are set in the amount of $5,000 and are required by the Indiana Secretary of State. SuretyBonds.com can issue these bonds for $100 over the phone! No credit check is required, so everyone qualifies for the same low rate. Buy your Indiana collection agency surety bond in less than 5 minutes!

Call 1 (800) 308-4358 or click here to get bonded!

Bond Type Bond Amount Cost*
$5,000 Collection Agency $5,000 $100 Buy 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.

Give us a call at 1 (800) 308-4358 or submit a bond request to buy your bond!

Why do I need this bond?

These bonds ensure that collection agencies will follow all rules and regulations found in the Indiana Code. Some of these provisions include:

  • only acting as a collection agency upon receiving a license
  • paying any client within 60 days of a collection
  • making certain that all money collected is deposited into a depository on a weekly basis

If a collection agency fails to adhere to these laws, the surety will cover any damages up to the full bond amount. The principal is ultimately responsible for reimbursing the surety.

Ready to get bonded? Simply give us a call at 1 (800) 308-4358 or submit a bond request. One of our bond experts will set you up with an Indiana collection agency surety bond for just $100 right away.

What’s the fine print?

The county the collection agency resides in must be listed on the bond form. Collection agency bonds in Indiana are continuous until canceled. The state requires surety companies to provide them with at least 60 days’ notice before canceling a bond.

How to become a collection agency in Indiana

Getting your Indiana collection agency surety bond is just the first step to obtaining the appropriate collection agency license. There are a few documents you will need to obtain, complete and submit to get your license. Some of the required information includes:

  • Collection Agency application filed through the NMLS
  • $5,000 original surety bond for each location
  • $100 filing fee for the main office
  • $30 filing fee for each branch office

When applying for a license, it is important to know if you are applying for a branch location of a major collection agency or as an individual collection agency.

Ready to get started?

Buy Your Collection Agency Bond Now!

Additional Resources

Indiana Code Title 25, Article 11 (25-11) Collection Agencies

Indiana Secretary of State Securities Division Collection Agencies

Indiana Secretary of State Collection Agency License Application

Indiana Secretary of State Collection Agency Branch License Application

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