A Collection agency collects debt on behalf of a client. Collection agencies that are located in Arkansas, or collect from debtors in Arkansas, must be licensed. The Arkansas State Board of Collection Agencies requires an Arkansas Collection Agency Bond as a guarantee that the collection agency will handle money appropriately. Any money received will appropriately go to the company requesting collections for debt.
Surety Bond amounts are determined by the size of the agency:
The premium amount you pay for an Arkansas Collection Agency Surety Bond is dependent on credit.
An agency's license will be suspended or revoked upon the cancellation or expiration of its bond. The agency must renew or obtain a new bond in order to continue business.
Check out our FAQ page. Should you need or choose to buy a surety bond, SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.