New Jersey Collection Agency Bond
In accordance with NJ Revised Statues, Title 45, Chapter 18, anyone operating in the capacity of a collector or collection agency must be licensed and post a $5,000 Collection Agency License Bond. The surety bond provides a guarantee that all proceeds from collection efforts shall be turned over to the party for whom the account, bill or other indebtedness was taken for. The bond further guarantees that the collection agency will observe and comply with all laws relating to the afore mentioned revised statutes.
How much does a New Jersey (NJ) Collection Agency Bond cost?
Rates for the $5,000 bond start at $100.00 per year based upon the owners credit. We also have special programs available for those who are faced with credit issues. Our bad credit surety bond program has a 99% success rate for getting the bond you need issued, regardless of your situation.