Or, choose your state from the list below: Utah Department of Commerce, Division of Corporations and Commercial Code: Collection Agency, Information on Filing a Collection Agency Guide, Utah State Legislature Title 12 Collection Agencies, Chapter 1 General Provisions, Utah Department of Commerce, Division of Corporations and Commercial Code: Application for Collection Agency form, Utah Department of Commerce, Division of Corporations and Commercial Code: Business Name Registration, Utah Business Licensing and Registration Guide. Each Collection Agency license applicant is required to furnish an original The Utah contractor license bond amounts vary depending on your license classification: General Building and General Engineering Contractors – $50,000; Residential/ Small Commercial Contractors – $25,000; Specialty Contractors – $15,000; You don’t have to pay the whole required amount in order to get bonded. utah collection agency license bond. The bond should clearly state the full name of the agency (Brooklyn Ventures of Missouri, LLC in NY), Division of Corporations and Commercial Code. Contact Us. Code surety bond. Obtain a collection agency surety bond. Backed by SSL, our online bonding process is secure. Fastest online surety bond application process; we approve bonds instantly. The bond serves as a financial guarantee for agencies’ clients as well as for the state. The bond must be for one year and it is the responsibility of the agency to renew the surety bond in 12 months to avoid violation of statute. You will need to resubmit your collection agency surety bond or continuation certificate as well as pay the $32 renewal fee. principal, as well as the name and street address of the business.The bond Begin your Utah collection agency registration process by completing the application form. Salt Lake City, Utah 84114-6705. The businesses registered with the State of Utah are either located in Utah or doing business in Utah as a: Business Trust, Collection Agency, Corporation (For Profit and Non Profit), Professional Corporation, Doing Business As - DBA, Limited Liability Company - LLC, Limited Liability Partnership - LLP, Limited Partnerships - LP, Limited Cooperative Associations - LCA The insurance must attach their power of attorney form to this form. They are a licensing requirement for collection agencies or third-party debt collectors in most states. Bond: $10,000: License: Yes: Fee: Varies by city and county: If you’re looking for a collection agency that knows Utah, contact Summit AR today for fast, friendly, and effective results. Oklahoma Collection Laws Collection Agency Bond & Licensing Rules. A District Of Columbia Collection Agency License can only be obtained through an authorized government agency. You can renew your agency by filing the application for a collection agency and checking the “Renewal” box. Operated by Brooklyn Ventures LLC, an insurance agency … Back to top. Call us first to find out how much money we can save you (844) 432-6637 or apply online today at SuretyGroup.com! Your business name must be registered prior to your filing. The total amount of the bond must not exceed $100,000. (Debt buyers are exempt from the BD-COL.) 6. Utah collection agency surety bonds remain valid for 1 year from the effective date, and it is the responsibility of the collection agency to renew the surety bond to avoid violation of statute. BD-COL Bond -- IL486-0095 -- The bond form must be completed by a bonding company licensed to do business within the State of Illinois. For additional details on each step, refer to the guide sheet on filing a collection agency application. Many collection agencies operate in multiple states, meaning they may be required to have multiple surety bonds. Utah Collection Laws Collection Agency Bond & Licensing Rules. Closed on state and federal holidays. The NMLS website has instructions on how to submit an application for Oregon, or any other state. We are committed to your privacy. To obtain a current list of bail bond agents: Click on the “Obtain a current list of producers” link just above the Authorized Signature box for each agency. Bail Bond Staff; Renewal Application for Utah Resident Bail Bond Agency License; Our Bail Bond & Title Producers page provides more information for bail bond agents and agencies. Collection Agency Bond Required for individuals who collect payment on behalf of another Contractor License Bond Required for individuals who perform construction work at the state’s discretion Investment Adviser Bond You must be bonded to provide investment advice to clients for a fee in Utah. How to apply. Tex. Utah surety bonds for money transmitters and motor vehicle dealers, license and permit bonds, bid bonds, contract bonds, fuel and liquor tax bonds, well permit bonds and more. Collection Agency Licensing. Corporations, The Collection Agency licenses are regulated and supervised by the The state regulator advises that under provisions of Title 12 of the Utah Code, no person shall conduct… Continue Reading → C. Poindexter 04/02/2013. She was informative, friendly and helpful. via the Division of Corporations. Pipersville, PA 18947. Mailing Address: To operate a collection agency in the State of Utah you must obtain the appropriate license and provide a Utah collection agency bond. 160 Water St., 16th Fl. We are a family owned and operated agency established in 2003. Documents, Fulfill Requirements and Obtain Required Documents, Submit Your Collection Agency License Application, Utah Department of Commerce - Division of Corporations and Commercial (Apply with the Secretary of State, Securities Division) Maine Debt Collector requires a $5,000 up to a $50,000 surety bond based on gross collection revenue and debt collector services such as repossessions, letter writing only, and/or direct collections. The Office of State Debt Collection currently contracts with the listed outside collection agencies to collect some of the State’s receivables. Date business formed or incorporated: _____ 4. All rights reserved. Note: As document links are updated regularly, they may have expired. We are the nation's largest volume bond producer. A collection agency bond in Utah costs $100 and is issued instantly. Fees can be paid with List of Licensed Bail Bond Agencies. Become a Licensed Collection Agency. The Nation’s #1 Volume Surety Bond Service. Rules and Regulations Regarding Collection Agency Licensure. 2021 SuretyBonds.com. Depending on the type of business, where you're doing business and other specific regulations that may apply, there may be multiple government agencies that you must contact in order to get a District Of Columbia Collection Agency License. Get free pricing from the top bond companies in the U.S. All fees are non-refundable and non-transferable. Simply click Buy Now to purchase your surety bond online using our secure checkout process. One more super satisfied customer. The division registers individuals or companies that collect third-party debts or repossess collateral, such as a vehicle. Utah Business Entities - Collection Agency page Your business name must be registered prior to your filing. Engaging in debt collection without filing a bond with the secretary of state is a violation of Chapter 392 and may also be a criminal offense. Registered business name: _____ 2. Business street address: _____ Street Address _____ y t i C e t a t S p i Z 3. The fully completed and signed license application must be filed in person should be furnished by a surety company authorized to conduct business in To operate a collection agency in the State of Utah you must obtain the appropriate license and provide a Utah collection agency bond. Utah utah collection agency bond Bond is required by The State Of Utah to comply with the State licensing requirements. Code § 392.402. We started with just two people, and grew to become the largest volume bond producer in the nation with 50+ employees. Note: Entities engaged in the business of collecting payments from consumer This entry was last updated on December 9, 2020. Registration and bond required. Trying to get a local Surety Bond was like driving a car on three tires. It only takes a few minutes to be on your way to starting a Utah collection agency. Our company has been with JW Surety for several years now so when we needed to obtain a bond for a new company, we immediately went to them for help. Customers who owe money to the State could receive periodic statements and collection notices from them. required of anyone engaged in the business of collecting and receiving Name of the principal applicant-owner of the agency or authorized officer of the corporation: _____ 5. their business name legally chartered by the Division. Department at (801) 538-8830. The state regulator advises that under provisions of Title 12 of the Utah Code, no person shall conduct… Continue Reading → C. Poindexter 04/02/2013. Learn, 6023A Kellers Church Road Under the provisions of Title 12 of the Utah Code, no person or business may conduct collections without having first registered with the Division of Corporations and Commercial Code with a filed and sufficient $10,000 bond. For additional information on debt collection and how to place delinquent accounts for collection, contact the Office of State Debt Collection Monday – Friday, 8 am – 5 pm. Access Utah Consumer Collection Agency License Forms and Related Collection agencies are often required to carry surety bonds by the state in which they reside as a way of helping to regulate the industry. Simply click ... To receive a Utah collection agency license and become properly registered, you must fill out the application form, obtain a $10,000 surety bond, and pay the $32 registration fee to the State of Utah. Collection Agency or Out-of-State Collection Agency Surety Bond completed by your insurance company. To receive a Utah collection agency license and become properly registered, you must fill out the application form, obtain a $10,000 surety bond, and pay the $32 registration fee to the State of Utah. If The bond amounts and regulations for each license are established on the state level. Copyright © 1996- Maintain an office in Washington state, managed by a Washington resident. Utah Collection Agency Bond. Examinations are not required for a limited line license, including a bail bond producer license. A collection agency bond in Utah costs $100 and is issued instantly. Collection agency registration. this is the case, go directly to the Utah Division of Corporations Collection agency bonds guarantee the compliance with regulations in the state in which the agency operates. the state of Utah. Utah Insurance Department. PO Box 146705 When the application is completed and you have purchased your surety bond, you may file the application in person or by mail at the following address: Utah Department of Commerce registered with the UT Division of Corporations. North Carolina Department of Insurance. The Utah collection agency bond aims to protect the interests of your customers and the state of Utah. In case of a valid bond claim, the surety will compensate the affected party for a sum up to the full amount of the bond. Ready to get bonded for just $100? This application form cannot be handwritten. The bond must be issued for a period of one year. Obtain Your UT Collection Agency Bond Each Collection Agency license applicant is required to furnish an original surety bond. Get more information about other states’ collection agency bond requirements by selecting a state on the map below. ... performance of the collecon agency Surety Bonds (NEW and/or Connuaon Cerficate/Rider) can be electronic copies, it can be emailed to northcarolinali-censingoffice@pearson.com or aached on the renewal applicaon. Renew a Collection Agency License. Copyright © 2003-2021 JW Bond Consultants, Inc. All Rights Reserved. and requirements, please contact the Division of Corporations and Salt Lake City, Utah 84111. Get free licensing tips sent straight to your inbox. Salt Lake City Utah 84111. Get started now! Utah collection agency bonds ensure that principals (collection agencies) adhere to the provisions of Title 12, Utah Code Annotated 1953. We’ve streamlined the bonding process to make your experience as fast and easy as possible. credit transactions should contact the Utah Department of Financial When renewing the collection agency, the bond date must match the collection agency’s registration date. A surety bond is required by the Division of Corporations and Commercial Code of the Department of Commerce of the State of Utah for all individuals, partnerships, corporations, or business entities who are applying to become a registered Collection Agency in the state. 801.538.9645. Utah Collection Agency Bond. Below is the Utah debt collection statute: § 12-1-1. Institutions for information on further requirements.You may contact the Commercial Code at [email protected] for license renewal as a North Carolina collecon agency. Physical Address: Albemarle Building 325 N. Salisbury Street Raleigh NC 27603-5926. provide the following: Assumed Business Name OSCDCommon@utah.gov. - Your assumed business name must be If you're unable to make your payment due to COVID-19 related hardships, please reach out to our OSDC staff at 801-957-7700 to discuss payment options. NEW Surety Bond with Power of Aorney Expiraon date should not occur before June 30th Domesc Renewal Bond: Bond #1 … To get an Out-of-State Collection Agency endorsement, you must do the following: Obtain a trust account. Office of State Debt Collection - Utah Division of Finance. Our rep, Melissa, was extremely helpful and prompt which made the process extremely easy for me. Heber M. Wells Building Division of Corporations and Commercial Code In Utah, any entity operating as a collection agency, collection bureau, or It must be submitted with the full application for licensure. Utah Department of Commerce - Division of Corporations and Commercial Post Categories. Be sure to check the “Registration” box when filling it out. Use the following worksheet to determine the required surety bond amount. Obtain Your NC Collection Agency Bond All Collection Agency license applicants are required to furnish an original surety bond. Therefore, costs and requirements for collection agency bonds fluctuate from state to state. Share this page: Facebook; Twitter; How can we make this page better for you? This license is If you are interested in engaging in the Outside Collection Agencies. If you need to send your application materials via overnight mail, send your materials to the following address: Utah Department of Commerce Apart from a completed license application, you will also be required to Bond: No: License: No: Fee: No: If you’re looking for a collection agency that knows Oklahoma, contact Summit AR today for fast, friendly, and effective results. Division of Corporations & Commercial Code payments on debts owed by businesses or individuals. Code, Utah Business Entities - Collection Agency page. $100,000 received by the collection agency from debtors located in Minnesota during the previous calendar year, less commissions earned by the collection agency on those collections for the previous calendar year. collection agency business, complete the following: Collection Agency License application form available here. I got online and filled out the information and with in 30 minutes received a response from Melissa. credit card, cash, or a check/money order made payable to the State of I searched Surety Bonds and found JW Surety Bonds. The attorney general or a district or county attorney may investigate an alleged violation of Chapter 392. Both the bond amount as well as the bond conditions vary to a certain extent in each state, though there are several most common conditions shared by collection agency bonds. PO Box 146705 Creditors, defined in section 5-16-103(7), C.R.S., who collect their own debts in their own name are not subject to the law and do not need to be licensed. Post Categories. The amount of the bond depends on the state/country where the applicant is incorporated. Each collection agency must obtain a collection agency surety bond from a Utah licensed surety for a minimum sum of $10,000. If you have questions, contact Steve Gooch at 801-538-3803 or sgooch@utah.gov. The collection agency bond is a central licensing requirement in many states. collection office must obtain a Collection Agency license. 160 E 300 S, 1st Floor It is the applicant’s Salt Lake City, Utah 84114-6705, Walk-In Address: This is divided into domestic (NC corporations), foreign (non-NC corporations), and alien (international/non-US corporations). or via mail. Collection Agency page to find the application you need. Your JW surety bond agent will be your claims advocate when you need them most. or (801) 530-4849. All license applications are available online on the Utah. For example, before collection agencies in New Jersey can legally conduct business, they must post a $5,000 surety bond for $100. Business Name Search. Submit an application through the Nationwide Multistate Licensing System (NMLS). . Learn how to get licensed in a few easy steps, Understand the licensing requirements for your state, Get Your Surety Bonds from the Best Bonding Companies, We work with the top A-rated, T-listed surety bond companies in the nation. Bond: $10,000 License: Yes Fee: Varies by City and County. We shop the top surety markets to find you the best rate. The surety bond protects the public legally and financially if the collector breaks the law when dealing with the public. Utah Division of Corporations & Commercial Code If the principle acts against the bond, the state has the legally ability to cancel the bond and revoke the business license. If you fail to abide by the rules and regulations you are bonded with, you can get a bond claim. UTAH COLLECTION AGENCY BONDING and LICENSING REQUIREMENTS. Specifically, this bond guarantees any funds collected by a collection agency are handled in accordance with the agreed-upon collection contract. Collection agency surety bonds guarantee that debt collectors will abide by all state and federal laws. Since day one, our team focus has been on providing real-time online quotes, an easy process, and the best in claims defense. While not all collection agencies require surety bonding or licensing many of them are still subject to the federal laws and regulations for debt collection in addition to the local Utah laws that apply in each district. Indiana Collection Agency requires a $5,000 surety bond. It is the agency’s responsibility to insure that the bond form is complete prior to submission to this Department. Fin. To operate a collection agency in the State of Utah you must obtain the appropriate license and provide a Utah collection agency bond.. limited partnerships, and limited liability companies must have 160 East 300 South, 2nd Floor The bond should clearly state the full name of the agency principal, as well as the name and street address of the business.The bond should be furnished by a surety company authorized to conduct business in the state of Utah. The surety can cancel the bond at any time by providing written notice of cancellation 30 days in advance to the Utah Department of Commerce Division of Corporations and Commercial Code and the collection agency. For assistance or additional information regarding the licensing process 1. responsibility to renew it on time. Our high volume allows us to negotiate lower rates on your behalf. Collection agencies that collect only commercial, business, investment, and agricultural purpose debts are not subject to the CFDCPA and do not need a collection agency license.