Collection agency surety bond cost
We are offers Nevada collection agency bonds for different amounts depending on the monthly balance that the agency collects. The cost of this particular bond is determined by a review of the applicant’s credit report and is subject to underwriting. Applicants with excellent credit could pay as little as 1% of the required bond amount!
Give us a call at 888.610.4474 or submit a bond request to begin our fast and easy bonding process.
Why this bond
Nevada collection agency surety bonds ensure that collection agencies adhere to all terms listed in Chapter 649 of the Nevada Revised Statutes. Under these statutes, collection agencies are prohibited from performing the following acts:
- using deceptive means or representations to collect any debt
- assigning or transferring any claim or account after termination or abandonment, unless prior consent is given by consumer for the assignment
- operating business or soliciting claims from any location or address other than the one listed on its license
- harassing a debtor’s employer to collect a claim
- advertising a claim for sale as a means to enforce payment
- publishing any list of debtors except for the benefit of stockholders in relation to its internal affairs
- and more
Collection agency bond details
If the bond is to be canceled or the liability reduced, the surety must provide notice to the state. These changes become effective 30 days after the receipt of the notice unless a later date is stated.
Become a collection agency
To become a licensed debt collection professional, an applicant must:
- submit a completed Application for Licensing Collection Agency form
- pay the initial application fee and initial licensing fee
- post a surety bond in the proper amount
- furnish financial statements showing the assets, liabilities and net worth of the agency
- provide a detailed statement showing anticipated number of employees, anticipated dollar volume of accounts to be assigned and cash flow at the end of the first year of business
- submit a list of Nevada clients
- and more
Apply for your surety bond
Get a FREE Nevada Collection Agency Bond Quote Today! Click here to begin
which are absolutely
