Texas Secretary of State requires the Third Party Debt Collector Bond be in the amount of $10,000. However, this bond will not cost that much to get. Get in touch with us and we can offer this bond for a very low price.
What is the purpose of a Third Party Debt Collector Bond?
Third party debt collectors are persons who directly or indirectly engages in debt collection, including those who sell or offer to sell forms represented to be a collection system, device, or scheme intended to be used to collect consumer debts.
While third party debt collectors are not required to register with the Secretary of State or the State of Texas, they must have this bond on file in order to engage in debt collection. The Debt Collector Bond states that the bond holder will faithfully discharge all obligations, duties and responsibilities under the Texas Finance Code.
Surety companies must write the Third Party Debt Collector Bond for and in favor of the public to ensure their protection from financial harm. This bond ensures that the people of the State of Texas are not wronged by the third party debt collector. A person can file a claim on the bond to seek compensation if they find themselves harmed by the third part debt collector.
How do I obtain a Texas Third Party Debt Collector Bond?
At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:
- Complete the easy to navigate and secure online application. 1
- Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
- Sign some paperwork and pay the bond premium
Once these steps have been completed, the Texas Third Party Debt Collector Bond will be shipped to the bond applicant.
1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.