We're here for you. To read our Coronavirus Update Click Here

Who sells the best replica watches? You'll find all the answers on our website perfectwatches.cn

Bonds

Debt Collection Bonding Requirements in New York City

By Joel BlackburnJune 21, 2018
 

A question we hear on a regular basis regarding collections in New York City is, “Is there a surety bond requirement that accompanies the license requirement?” The broad answer is “yes” – there is a debt collection bond requirement in NYC.

But there is a huge caveat.

The bond is only required for agencies that perform collections on child support payments. New York City Administrative Code Section 20-489 states the following:

 

As a condition to the issuance of a license to provide child

support payment debt collection services, each applicant shall furnish

to the commissioner a surety bond in the sum of five thousand dollars,

payable to the city of New York, executed by such applicant and a surety

Debt Collection Licensing Portal

approved by the commissioner.

 

The statute goes on to say that the bond can be increased up to $25,000 at the commissioner’s request.

 

Do you have any questions about surety bonds? Interested in letting Cornerstone manage your bonds? Contact Joel Blackburn today at 770-587-4595 for answers to bond questions and quotes on any bonds you may need.

Leave a Reply

avatar
  Subscribe  
Notify of

Categories

Who sells the best replica watches? You'll find all the answers on our website perfectwatches.cn



Who sells the best replica watches? You'll find all the answers on our website perfectwatches.cn

Sign-up for the cornerstone newsletter & e-blastsStay informed on any new licensing changes.