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Colorado Collection Agency Surety Bond

Bond Requirements and Online Application

Collection agency surety bonds guarantee that debt collectors will abide by all state and federal laws. The surety bond protects the public legally and financially if the collector breaks the law when dealing with the public. If the principle acts against the bond, the state has the legally ability to cancel the bond and revoke the business license.

Typically, the bond amount is determined by factors such as the number of agency employees, how much revenue is expected, and the population the agency will be serving, among others. The bond premium (the cost to you) is only a small fraction of the bond amount. Surety1 works to get you the lowest possible premium for your bond.

Collection Agency Surety Bonds

Surety Bond

  • Required by: State of Colorado Department of Law
  • Minimum Bond Amount: $12,000
  • Maximum Bond Amount: $20,000
  • Valid: Continuous – Renewable

The applicant should verify the bond amount with the obligee before applying for the bond to ensure the bond amount is correct.

This bond guarantees that the principle will abide by all Colorado state laws outlined in the Colorado Fair Debt Collection Practices Act.

Since this bond is continuous, it remains in full force and effect until cancelled. If the bond is cancelled, the obligee must be notified of the cancellation at least 30 days before the cancellation date.

Licensing

Surety1 is not directly involved with the licensing process, but we’ve compiled this information which may helpful for you.

State licensing fees and requirements:

  • Surety bond
  • License application
  • Supporting documents for application (listed on official page)
  • $500 investigation fee
  • Financial statements
  • Bank account information
  • $1,000 new license fee
  • Certificate of good standing

All licensing fees are required by the obligee, not the surety company.

For more licensing information, visit: Colorado’s government website.

 

How to Get Your Colorado Collection Agency Surety Bond

1. Complete an online application. It's free and no-obligation. 2. One of our surety experts will contact you with a firm quote and an agreement to sign. 3. Provide payment and your signed agreement, and then you will receive your Colorado Collection Agency Surety Bond!   If you have any questions, please call us at 877-654-2327.
HOW TO GET BONDED
1. Apply Online Using our Free & Secure Application 2. Get Your Free Quote Applications are No-Obligation 3. Get Your Bond Most Bonds are Approved in 1-2 Business Days

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