Collection Agency Bonds
Collection agency and debt collector bonds are required in roughly half of the 50 states. These bonds are a type of license and permit bonds which are required by law or ordinance to be able to engage in business as a collection agency. In the states with collection agency bond requirements, they are required as part of a license or registration application. The exceptions are New Jersey and Texas, which require a bond, but no accompanying license.
Most bonding companies are not familiar with the statutes and filings unique to collection agency bonds. Here at Cornerstone, we specialize in collection agency bonds. Cornerstone also has access to a wide network of surety companies with appetites for all types of bonds and competitive pricing.
Do you have licenses you are in the process of applying for but you are unsure which require bonds? Do you have questions about which bonds and amounts your agency needs, or how to obtain them? Contact us today for a quote, let us answer your questions, and save yourself the time and hassle of having to shop around – we’ll manage the process for you.