Idaho Collection Agency Surety Bond
A Collection Agency Surety Bond guarantees that the Idaho collection agency will handle money appropriately and give money received to the company requesting collections for debt.
Applicants must complete an application located on the National Mortgage Licensing System (NMLS) website.
Surety Bond and License Requirements:Provide a business plan, management chart, and organization chart, sample business documents, and a Debt Management Agreement.Obtain a Certificate of Good Standing or Certificate of Authority from the Idaho Secretary of State or domicle state.Provide resumes with license specific details including description, duties, and experience in the industry.If applicable, provide formation documentation for Corporations, Limited Liability Companies, or Partnerships.Obtain a $15,000 surety bond. Upon purchase of the surety bond the surety will upload the bond into the NMLS ESB system directly for you.If any question was answered yes in the disclosure statements, provide a written explanation for the answer.Complete the Trust Account Authorization/Consent of Service of Process release.An initial filing is due with an initial application. Thereafter, quarterly filings and an annual filing are due.
How Much Will This Bond Cost?
The premium that you pay for an Idaho Collection Agency Surety Bond is dependent on owner's credit.
Related Links:Idaho NMLS License Information Idaho Department of Finance Collection Agency Information
More Surety Bond Questions?
Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. 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.
For a downloadable application