This bond is required for businesses that collect debts on behalf of others in Utah. If you run a collection agency that contacts people to collect money they owe to creditors, you need this $10,000 bond. It protects consumers from unethical practices like harassment, threats, or illegal collection methods. If your ag…
Overview
What it is.
This bond is required for businesses that collect debts on behalf of others in Utah. If you run a collection agency that contacts people to collect money they owe to creditors, you need this $10,000 bond. It protects consumers from unethical practices like harassment, threats, or illegal collection methods. If your ag…
Who usually needs it
All individuals, partnerships, corporations, or other business entities applying for registration as a collection agency in Utah must obtain this bond. This applies to businesses that collect default accounts or debts for another person, or those conducting a collection agency, bureau, office, or soliciting the right to collect accounts, bills, or indebtedn…
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.
StateUTBond amount$10,000ObligeeState of UtahBond classLicense BondCategoryOtherBondState of Utah - Collection Agency BondPlain descriptionThis bond is required for businesses that collect debts on behalf of others in Utah. If you run a collection agency that contacts people to collect money they owe to creditors, you need this $10,000 bond. It protects co…Who needs this bondAll individuals, partnerships, corporations, or other business entities applying for registration as a collection agency in Utah must obtain this bond. This applies to businesses that collect default accounts or debts f…
