1 (844) 589-9732

Illinois Collection Agency Bond

The $25,000 Illinois collection agency bond is required by statute. Its purpose is to protect creditors from the unlawful activities of licensed collection agencies. The bond is issued to you for just $188 annually. Please call AmeriPro Surety Bonds at 844-589-9732.

Illinois Collection Agency Bond

AmeriPro Surety Bonds | 844-589-9732




Illinois Collection Agencies




Illinois-based collection agencies are regulated by the Illinois Department of Financial and Professional Regulation and Section 425/8 of the Illinois Compiled Statutes  (which, as of this writing in November 2018, is set to be repealed in 2026).

The law mandates that Illinois collection agencies obtain a $25,000 Illinois collection agency bond.

This surety bond is available as a new and renewal bond from AmeriPro Surety Bonds.



Qualifying and the Premium



You are automatically approved for the $25,000 Illinois collection agency bond.  There is no credit check, and so the bond is issued to you immediately.  When you call us, we’ll just ask you the following simple questions:

  • The name, address, and other contact information of your surety bond;
  • Your business FEIN number;
  • The County name where your business is located;
  • Whether your bond is a New or Renewal surety bond.

After payment of the $188 premium, our agency issues your bond to you immediately.  Upon receipt of your bond and Power of Attorney form, you’ll sign your bond as Principal, mailing all documents to:

State of Illinois, Department of Professional Regulation

320 West Washington Street

Springfield, IL 62786

Additional Premium Payment Options

Your collection agency bond may be prepaid for a period of up to 3 years.  Prepayment of your premium saves you over annual renewals. The premium prepayment option and savings are as follows:

  • If prepaid for 2 years, the premium is $338, a $38 savings;
  • If prepaid for 3 years, the premium is $489, a $75 savings.



Illinois Collection Agency Bond: Its Purpose




The Illinois collection agency bond is a financial guarantee issued on behalf of creditors.

The bond, therefore, is not for the protection of the collection agency at all.

According to state law, the Illinois collection agency bond is a financial guarantee which protects creditors whom the collection agency fails to remit collected funds — from debtors — as first determined by a civil court judgment against the collection agency.

The bond’s existence guarantees that the collection agency will be paid up to the $25,000 amount, provided that the collection agency fails to pay for from its own accounts

But — and this is significant — the bond is not an insurance policy.

What that means is that should the surety pay a claim on the Illinois collection agency bond, you, as principal are legally obligated to reimburse the surety for all costs and fees involved in the settlement of that claim.




About AmeriPro Surety Bonds




AmeriPro Surety Bonds is a surety bonds-only agency.

We provide license and permit, contractor, court, and fiduciary bonds throughout Illinois.

Please contact our agency today for your IL collection agency bond, by calling us or filling out the form below.

We look forward to seeing you get bonded.





Request a Callback

  • MM slash DD slash YYYY
  • Please note: We do not share or rent your address to anyone, except for underwriting purposes associated with your surety bond.
  • This helps us to find exactly the surety bond that you require. By the way, it's perfectly OK to not know the type of surety bond you need; that's why we're here!
  • This field is for validation purposes and should be left unchanged.

AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

apply today

recent news

Lost Cashier’s Check Bond | Lost Instrument Bond

If you’ve lost a cashier’s check or money order, to replace it, the banking institution will require that a “Lost Instrument bond” be purchased in order to re-issue it. Learn how to quickly purchase this bond with AmeriPro Surety Bonds.

Mortgage Broker Bond

A mortgage broker bond is a license and permit bond which states require to become properly licensed and which is also required to protect the public from wrongful acts committed by a mortgage broker.

Notary Public Bond California

A notary bond, also known as a notary public bond, is a bond that is required by the state of California to engage in the business of witnessing signatures on documents. 

West Virginia Garnishment Bond

West Virginia Garnishment Bond |  AmeriPro Surety Bonds | 844-589-9732   Surety Bond; Amount and Purpose   A garnishment order allows a Plaintiff in a litigation proceeding, prejudgment, to seize the assets, wages, or property of the Defendant.   Unlike an...

Connecticut Professional Conservator Bond

Connecticut Professional Conservator Bond | AmeriPro Surety Bonds | 844-589-9732   Surety Bond; Amount and Purpose   The state of Connecticut offers a professional conservator probate program which pays a monthly fee to the appointed conservator on behalf of...

Ginnie Mae Lost Instrument Bond

Ginnie Mae Lost Instrument Bond | AmeriPro Surety Bonds | 844-589-9732 Surety Bond; Amount and Purpose   A Ginnie Mae lost instrument bond, formally known as a Lost Instrument Bond with Limited Liability, is required by this federal agency when a property ---...

contact us

Office: 1 (844) 589-9732

Hours of Operation:

Monday – Friday 6 am to 5 pm (PST)