Who needs the collection agency bond?
In the State of Tennessee, collection agencies are required to retain separate licenses and surety bonds for each business location (including any branch offices) in order to be in compliance with Title 62, Chapter 20 of Tennessee Code Annotated.
What is the collection agency bond?
The collection agency bond protects the party requesting the surety bond, the Obligee, against any financial losses as a result of poor financial choices, damages, unethical decisions, or a failure to adhere to state and local laws on the part of you, the Principal. By obtaining your bond, you are telling the Obligee that you can be trusted and that you stand by your business decisions.
In Tennessee, the bond amount required depends on the number of people employed by the collection agency:
NUMBER OF EMPLOYEES
1 - 4
5 - 9
10 OR MORE
The Tennessee collection agency bond is also known as: third-party debt collector bond, debt collector bond, and consumer collection agency bond.
What else do I need to obtain or renew my license?
The Tennessee Collection Service Board also requires applicants to submit the following documents with their application:
Not sure what else you might need to get licensed or renewed? Check out the requirements here!
I have everything I need. What now?
Collection agencies will submit the original signed and notarized bond form to the following address:
Tennessee Collection Service Board
500 James Robertson Parkway
Nashville, TN 37243-1155
The Collection Service Board may be reached by phone at (615) 741-1741.
Get bonded within one business day!
Only Ashton Agency can provide you with:
Many companies offer the Tennessee collection agency bond, but by contacting the Ashton Agency, you can be sure you'll be getting the best price available, not to mention our stellar customer service and insider knowledge of the industry. We've been helping dealers get bonded for more than 45 years. Let us put that experience to work for you today!
Call us now at (800) 451-4854 for a free quote and we will contact you within 24 hours. We can assist you over the phone to ensure you receive your bond quickly and easily!
Don't have time to speak on the phone? Please fill out our easy online application and fax to (407) 678-2468. We can get you started right away!