Collection agencies in West Virginia are licensed and regulated by the state’s Tax Department.
A condition of licensing is that you obtain a collection agency surety bond which, according to the Commissioner should run concurrently with your registration tax period.
The bond amount is $5000; however, that amount is for each office or branch location of your collection agency business. If you purchase more than one collection agency bond for West Virginia, each bond will be issued individually for each office location.
You are automatically approved for the $5000 West Virginia collection agency bond. There is no underwriter review nor a credit inquiry.
The surety bond application – which we’ll take from you over the phone – merely consists of providing the name on your surety bond, the address, and contact information.
After payment of the $100 premium, our office issues the bond to you immediately and mails it to you by the following business day, along with your Power of Attorney (POA) form. Once received, you’ll sign the bond as Principal, and after having it notarized, file your bond and POA to the Tax Department.
Their mailing address is:
West Virginia State Tax Department – Revenue Division
P.O. Box 2389
Charleston, WV 25328-2389
At $100 premium, your collection agency bond will expire on the anniversary of its issuance. You also have the option to prepay your bond for up to 3 years. This lengthens the time between renewal periods and saves you money as well.
The premium prepayment options and savings are as follows:
You collection agency bond is a financial guarantee of your compliance with the (West Virginia) Collection Agency Act of 1973, and any future amendments to this law.
AmeriPro Surety Bonds is a surety bonds-only agency which provides collection agency bonds nationwide.
We also provide license and permit, and court surety bonds in all 50 states. Please call our agency today at:
Or, you may fill out the form below and an agent will contact you…