Any person or entity commencing, conducting, or operating a collection service business in Tennessee. Required when: Required as a condition of obtaining or renewing a collection service license. Exemptions: Attorneys at law, banks, trust companies, real estate brokers, passive debt buyers, and entities engaging in de…
Overview
What it is.
Any person or entity commencing, conducting, or operating a collection service business in Tennessee. Required when: Required as a condition of obtaining or renewing a collection service license. Exemptions: Attorneys at law, banks, trust companies, real estate brokers, passive debt buyers, and entities engaging in de…
Who usually needs it
Any person or entity commencing, conducting, or operating a collection service business in Tennessee.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateTNBond amountThe bond amount is based on the number of employees: $15,000 for 1-4 employees;…Term lengthAnnualObligeeTennessee Collection Service BoardRenewalLicensees must maintain the bond at all times during licensure; proof of a renewed bond or a continuation certificate must be submitted to the Board via the CORE system during the license renewal process.Bond classLicense BondCategoryReal EstateBondCollection Service License BondStatutory referenceT.C.A. § 62-20-110JurisdictionState
