Collection Agency Bonds

Complete Guide to Bonding for Debt Collectors

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How Do I Get Bonded?

What are Collection Agency Bonds?

Collection Agencies are companies that pursue payment on debts owned by both businesses or individuals. State governments require all collections agencies to be bonded. These bonds guarantee proper accounting for funds received, ensuring that money collected by debt collectors will be properly dispersed to clients. Further specifics of what each bond will guarantee may vary depending on individual state’s rules and regulations.|| Our agency offers a variety of programs designed to help all types of debt collection agencies get approved at quickly, and at excellent rates, in all 50 states.

Questions about Collection Agency Bonds

How much does a Collection Agency Bond cost?

Annual premium amounts are determined based on owner personal credit. Owners with stellar credit may be eligible for standard market rates, which range from 1% to 3% of the bond amount.

If the owner has a low credit score, or past due items on their credit report, annual premium typically ranges between 5% to 15% of the bond amount. For most states, our high risk rate does not exceed 7.5%.

For more information on bonding costs, visit our page on Bond Prices.

How do I get a Collection Agency Bond?

The first step is to apply for a free quote. Once you’ve been approved, your agent will provide you with the bond premium due, along with an agreement with the surety. Once you’ve paid for your bond, and provided a signed copy of the indemnity agreement, your Collection Agency Bond will be mailed out to you. To learn more about the bonding process, visit our page on How To Get Bonded.

Can I get approved for a Debt Collector Bond if I have bad credit?

Yes. While many sureties only offer quotes to customers with stellar credit, Lance Surety has a variety of collection agency bond programs that allows us to approve over 99% of applicants instantly through our online application. Your annual premium will depend on your individual credit profile, but we’re able to offer very aggressive rates.

How do Collection Agencies become licensed and bonded?

First, you’ll want to contact the specific state department that oversees collection agencies about your desire to conduct business in that state. Some state’s offer checklists online, which can be very helpful.

In addition to submitting an application to be become registered or licensed, most states require a surety bond be posted to guarantee compliance with their collection regulations. Getting bonded with Lance Surety is simple. You can get approved in just minutes by completing our online application. Once your bond has been issued, you’ll submit a signed copy of the original bond to the state to be filed with your license.

Will my Collection Agency Bond work for multiple states?

No. You'll need to post a separate bond for each state that you will be conducting business in. Each state has their own bond requirements, and therefore you'll need to make sure to comply with each state's respective bond regulations.

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Find Your Surety Bond

We offer all types of surety bonds in all 50 states. If you can't find your bond in the table below, select "General business license or permit bond (not listed otherwise)" and start your application.
Alaska Collection Agency Alaska Dept. of Commerce Apply Now
Arizona Collection Agency Dept of Financial Institutions Apply Now
Arizona Collection Agency Bond Apply Now
Arkansas Collection Agency State Board of Collection Agencies Apply Now
Colorado Collection Agency Collection Agency Board Apply Now
Connecticut Collection Agency $25K Commissioner of Banking Apply Now
Florida Collection Agency Office of Financial Regulation Apply Now
Hawaii Collection Agency Bond State of Hawaii Apply Now
Idaho Collection Agency Dept of Finance Apply Now
Illinois Collection Agency Dept of Professional Regulation Apply Now
Indiana Collection Agency State Board of Accounts Apply Now
Local Government City of Buffalo Collection Agency Bond City of Buffalo, Dept of Economic Development Apply Now
Local Government DCA Licensing Center Debt Collection Agency NYC - DCA Licensing Center Apply Now
Maine Debt Collector/Repossession (Continuous) Office of Consumer Credit Regulation Apply Now
Maryland Collection Agency Commissioner of Financial Regulation Apply Now
Massachusetts $25,000 Collection Agency Massachusetts Division of Banks Apply Now
Michigan Collection Agency Bureau of Commercial Services, Licensing Division Apply Now
Michigan Non-Depository Sales Finance Company and/or Out-O Department of Insurance and Financial Services Apply Now
Michigan Depository Financial Institution - Sales Finance C Department of Insurance and Financial Services Apply Now
Minnesota Collection Agency (Corp/LLC) Commissioner,Dept of Commerce Apply Now
Minnesota Collection Agency (Partnership) Commissioner,Dept of Commerce Apply Now
Minnesota Collection Agency (Sole Prop.) Commissioner,Dept of Commerce Apply Now
Nebraska Collection Agency License Bond NE Collection Agency Licensing Board Apply Now
Nevada COLLECTION AGENCY State of Nevada Business & Industry Dept Apply Now
Nevada Collection Agency Bond Department of Business and Industry Apply Now
New Jersey Collection Agency Deputy Attorney General Apply Now
New Mexico Collection Agency Corporate Bond Finance Institutions Division Apply Now
New York Collection Agency Bond(City of Buffalo, NY) Office of Licenses Apply Now
New York Collection Agency Bond (New York City) NYC Department of Consumer Affairs Apply Now
North Carolina 2013-2014 New Domestic Collection Agency Bond Dept of Insurance Apply Now
North Dakota Collection Agency Dept of Financial Institutions, Consumer Division Apply Now
Oregon Collection Agency Dept of Consumer & Buisness Services Apply Now
Other (Gryphon Corp.) Client Contract Bond Gryphon Corp. Apply Now
Pennsylvania Credit Services Organization Bond department of state Apply Now
Rhode Island Collection Agency State of Rhode Island Apply Now
State of Hawaii Collection Agency Director, DCCA, PVL, Licensing Branch Apply Now
Tennessee Collection Service License Bond Tennessee Department of commerce and Insurance Apply Now
Tennessee Collection Agency Bond Tennessee Department of Commerce and Insurance Apply Now
Tennessee Collection Service License Tennessee Department of Commerce Apply Now
Tennessee Credit Services Organization Bond Director of Tennessee Division of Consumer Affairs Apply Now
Texas Third Party Debt Collector Secretary of State, Statutory Documents Section Apply Now
Texas Private Child Support Enforcement Agencies Bond Texas Department of Banking Apply Now
Utah Collection Agency Dept of Commerce Apply Now
Washington Collection Agency Business and Professions Division, Collection Agen Apply Now
West Virginia Collection Agency Tax Dept, Internal Auditing Division Apply Now
Wisconsin Collection Agency Dept of Financial Institutions Apply Now
Wyoming Collection Agency Collections Agency Board Apply Now

About Us

Lance Surety Bonds
Lance Surety Bond Associates, Inc. is a Pennsylvania-based surety bond agency that offers bonding at competitive rates in all 50 states. Established in 2010, our company has grown to become one of the top online bond producers in the country. Working exclusively with A-rated and T-listed bonding companies gives us the confidence to offer a 100% money-back guarantee. read more

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What Our Clients Have To Say?

  • Kimberlee Ables
    Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
  • Andrew Poincot
    Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
  • Margie Martinez
    We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!

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