When you operate a Collection Agency, or if you contact debtors in the State of Tennessee you are required to post a Collection Agency License Surety Bond with the state.
These bonds provide a guarantee that you and/or your agents will comply with the state laws and properly account for and disperse the monies collected.The required bond amounts available are $15,000, $20,000 and $25,000.
To learn more about this license, please visit the Collection Service Board section of the Tennessee Department of Commerce and Insurance.
Call us at (855) 952-6633 to speak with a Surety Bond Expert
What happens after I apply online for my Surety Bond?
Step #1: A Surety Bond underwriter will immediately review your application, if it has been fully completed.
Step #2: A friendly Surety Bond expert will reach out to you to explain your quote or request additional information.
Step #3: Once you accept your quote and pay any premium due, your Surety Bond will be issued and delivered immediately.