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Pennsylvania Collector-Repossessor Bond

How much will my Pennsylvania abandoned vehicle repossessor bond cost?

Pennsylvania collector-repossessor bonds are set in the amount of $5,000. SuretyBonds.com is able to issue these bonds instantly for just $100 per year without a credit check! We’re proud to offer our clients discounted rates for multiple-year bond terms.

Fill out our quick and easy bond request form or give us a call at 1 (800) 308-4358 to get bonded instantly!

Bond Type Bond Amount Cost*
$5,000 Collector-Repossessor Bond (1-year term) $5,000 $100 Buy Now
$5,000 Collector-Repossessor Bond (2-year term) $5,000 $175 Buy Now
$5,000 Collector-Repossesor Bond (3-year term) $5,000 $250 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.

Call SuretyBonds.com at 1 (800) 308-4358 or submit a bond request form to get bonded instantly.

Why do I need this bond?

By posting a Pennsylvania collector-reposessor bond, principals (collectors/repossesors) pledge to comply with all terms of the Motor Vehicle Sales Finance Act and the Department of Banking and Securities and pay all money due to the commonwealth, the department and any person who suffers damages as a result of the collector’s unlawful and unethical business practices.

Contact a surety specialist today to get bonded instantly without a credit check.

What’s the fine print?

Collector-repossessor bonds are continuously effective until canceled. If the surety wishes to terminate this bond before the expiration date, it must give the department 30 days’ notice prior to termination.

This bond is conditioned so that both clients and the Department may file claims against the principal. Regardless of the number of years the bond may run for, no claim can exceed the penal sum of $5,000.

How to become a collector-repossessor in Pennsylvania

When filling out your application for a collector-repossessor license, be sure to provide the following information:

  • name of corporation and D/B/A if applicable
  • if not a corporation, name and type of business entity
  • street address and office telephone number for business location
  • list of all types of services offered on your website
  • name, title, SSN, date of birth, address, phone number and email address for each officer, director or co-owner
  • whether any officer or director has been previously or is currently licensed by the department
  • criminal history of all applicants
  • affidavit, if applicable

All applicants must also be familiar with the Motor Vehicle Sales Finance Act and submit to a fingerprint check upon submission.

Contact a bond expert today to get bonded in just 5 minutes for a 1, 2 or 3-year collector-repossesor bond.

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Buy Your Collector Repossessor Bond Now!

Pennsylvania Department of Banking and Securities: Collector-Repossesor Bond

Pennsylvania Department of Banking and Securities Application for Licensure as a Collector-Repossesor

Pennsylvania Department o banking and Securities Motor Vehicle Sales Finance Act

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