Wisconsin Collection Agency
The Wisconsin Collection Agency is a $25,000.00 bond.
This bond is available in 1 year term.
The Collection Agency Bond protects the debtors and indicates that the company has been approved by the state to offer ethical and professional services. This bond also gives the client a plan of action should the collection agency do anything illegal or unethical that affects that client in a negative way. If the claim is determined to be valid, the surety must pay reparation up the bond's full amount. The surety will then require reimbursement from the collection agency.
Ashton Agency has a 99% approval rate and offers the collection agency bond for Wisconsin license holders at some of the most competitive rates available. Let us save you money!
Who needs the collection agency bond?
In the State of Wisconsin, 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 section 218.04 of the Wisconsin Statutes.
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.
All Wisconsin collection agency bonds expire on September 30th annually.
Business entities located in Wisconsin are required to file a bond in the amount of $25,000. Out-of-state business entities must obtain a $35,000 bond.
The Wisconsin collection agency bond is also known as: third-party debt collector bond, debt collector bond, consumer collection agency bond, and foreign agency bond.
What else do I need to obtain or renew my license?
The Wisconsin Department of Financial Institutions also requires applicants to submit the following documents with their application:
- Financial statements
- Solicitor/collector application(s)
- List of solicitor/applications
- Certificate of Good Standing if incorporated outside of Wisconsin
- Criminal history report(s)
- Officer/owner resumes
- Contracts between applicant and independent contractors
- Business plan
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:
Wisconsin Department of Financial Institutions
Licensed Financial Services Section, Suite 500
P.O. Box 8786
Madison, WI 53707-7876
The Licensed Financial Services Section can be reached by phone at (608) 261-7578.
Get bonded within one business day!
Only Ashton Agency can provide you with:
- The lowest price for your collection agency bond.
- Quickest turnaround time.
- The ability to meet or beat any competitor's pricing.
Many companies offer the Wisconsin 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!
A Better Price Starts Right Here, Wisconsin!
Let's start with some basic information about your company to get going on your new Bond or Insurance. Please note that anything marked
must be completed before you can submit the form.
Prefer To Call?
We would love to help you over the phone. Call us at (800) 451-4854!