Nebraska Collection Agency Surety Bond
The Nebraska Secretary of State, Collection Agency Licensing Board is tasked with the responsibility of collection agency licensing and compliance. A Nebraska Collection Agency License ensures that solicitors will comply with the states statutes and regulations when dealing with consumers and debt collection practices.
Anyone who is operating a Nebraska collection agency or is in the business of collecting or receiving payment for others of any account, bill, or other indebtedness, must apply for a license.
- Complete the application and pay the investigations fee and license fee.
- Provide three letters of personal reference for individuals and partners of the business.
- Corporations will need to register with the Secretary of State and obtain a letter of good standing. Corporations will also need to provide a copy of their articles of incorporation and the name of their resident agent in the state of incorporation.
- Provide a list of any other states the business is licensed in (use the state form for the list).
- Provide a list of names of debt collectors or solicitors that will be working for the company and the date of hire.
- If the business has multiple branch offices, provide a list for each office along with the name used, the address and phone number.
- Provide a personal (individual or partnership) or business financial statement (corporation or limited liability company).
- The license and surety bond must be renewed by December 1 of each year.
Surety Bond Requirements:
Obtain a surety bond based on the number of solicitors for the business. The bond guarantees proper accounting of monies collected and dispersed to clients.Less than 5 solicitors = $5,000 surety bond5 -15 solicitors = $10,000 surety bond16 or more solicitors = $15,000 surety bond.
How Much Will This Bond Cost?
The premium that you pay for a Nebraska Collection Agency Surety Bond is dependent on credit and the bond amount required.
Related Links:Nebraska Secretary of State - Collection Agency License Information Nebraska Secretary of State - Collection Agency Licensing Forms Nebraska Collection Agency Licensing Act
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