How much does a debt collection agency bond cost in Wyoming?
The Wyoming Collection Agency Board requires collection agencies to post $10,000 surety bonds.
SuretyBonds.com instantly issues these bonds for just $100! No credit check is required so all applicants pay the same low rate. Purchase your surety bond now!
|Bond Type||Bond Amount||Cost*|
|$10,000 Collection Agency Bond||$10,000||$100||Buy Now|
5 minutes and $100 is all it takes to get bonded when you choose SuretyBonds.com! Call 1 (800) 308-4358 or fill out our easy online contact form to get started.
Why do I need this bond?
Wyoming collection agency bonds exist to protect consumers from any fraudulent activity that occurs at the hand of a debt collection agency. By posting this bond, principals (collection agencies) agree to abide by all rules, laws and regulations stated in the Wyoming Statutes Annotated.
Prohibited acts under this bond include:
- working without a license
- committing a misdemeanor
- failing to pay all monies collected to the parties its owed to
- failing to keep all collection records required by the Department and Board
What’s the fine print?
Collection agency bonds in Wyoming remain continuous until canceled. The surety must give prior notice of the intent to cancel the bond to the Collection Agency Board.
All fields on the surety bond form must be filled in legibly. No tape or whiteout can be used. If a mistake is made, the mistake must be marked through and notarized.
How to become a debt collection agency in Wyoming
To become a licensed collection agency in Wyoming, applicants must submit the following required fees and documents along with the completed licensing application:
- $500 filing fee
- Business Information form
- financial statements
- Certificate of Good Standing
- summary of procedures for business
- 3 professional references
- bank references and information
Complete licensing information can be accessed from the Important Links section of this page.
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