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Rhode Island
Debt Collector Bond

400,000+ Bonds issued to 250,000+ satisfied customers.

Coverage Amount: $50,000
Term Length: 1 year
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Rhode Island Debt Collector Bond Guide

If you’re applying for a debt collector license in Rhode Island, you’ll need this surety bond. 

Bond Overview

  • Purpose: To protect consumers if debt collectors operate illegally
  • Who Needs It: All debt collectors in Rhode Island
  • Regulating Body: The Department of Business Regulation
  • Required Coverage: $50,000
  • Premium Rate: $500–$5,000 based on credit score

Learn all about the bond requirements and process in this guide.

What Is a Rhode Island Debt Collector Bond?

A Rhode Island debt collector bond is required for all licensed collectors in the state. It protects consumers if debt collectors fail to operate legally and ethically. 

The Rhode Island Department of Business Regulation (DBR) requires this bond as part of the licensing process for all debt collectors in the state.

How Much Do Debt Collector Bonds Cost in Rhode Island?

Rhode Island debt collector bonds cost a small percentage of the $50,000 coverage amount, typically $500–$5,000.


Exact rates vary based on personal credit score. Apply for your free quote now!

Bond Type
$50,000Debt Collector Bond

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

How Do I Get My Bond?

SuretyBonds.com provides the fastest and easiest way to get a Rhode Island debt collector bond. Just follow these quick steps: 

  1. Apply: Submit an online quote request form
  2. Quote: Receive your quote within one day
  3. Sign: Complete the indemnity agreement 
  4. Buy: Purchase the bond online 24/7

We’ll upload the bond directly to NMLS on your behalf. 

If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance. 

How Does a Rhode Island Debt Collector Bond Work? 

As with all surety bonds, a debt collector bond creates a legal contract between three parties: 

  1. Principal: You, the debt collector filing the bond
  2. Obligee: The Rhode Island Department of Business Regulation requiring the bond
  3. Surety: The provider issuing the bond

This holds you financially responsible for upholding all applicable provisions of the General Laws of Rhode Island. 

Rhode Island Debt Collector Bond

If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must refund the surety. 

How Do I Renew My Bond?

These bonds expire annually. To renew your debt collector bond, simply pay your renewal invoice when prompted. 

We’ll begin contacting you by phone and email 90 days before the expiration date.

More Resources

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