Wyoming Collection Agency Bond
AmeriPro Surety Bonds | 844-589-9732
Wyoming Collection Agency License
Wyoming collection agency businesses are licensed and regulated by the state’s Division of Banking.
Your license and surety bond are filed through NMLS, the Nationwide Mortgage Licensing System.
After its purchase, our agency will electronically file your collection agency surety bond on your behalf to NMLS.
Qualifying and the Premium
The Wyoming collection agency bond is a $10,000 surety bond required per location in the state.
Up to a $50,000 surety bond amount, our agency provides this bond to you after completion of a short surety bond application which we’ll take from you over the phone, and without a credit check inquiry.
The bond’s premium is 1% annually of the amount required.
The application consists of just asking you your business name, exactly as it should appear on your bond, along with your contact information. Then we’ll ask your state and county of business organization, along with your full name and your business title.
After payment of the premium, our agency will issue the bond to you immediately; and we can either file it on your behalf, or send it to you for electronic filing to NMLS.
- In cases where an applicant requires a Wyoming collection agency bond bigger than $50,000, a signed surety bond application, review by an underwriter, and a credit inquiry are required. Approval is at 1% of the amount required, based upon good credit.
Premium Prepayment Options
Our agency allows you to prepay your Wyoming collection agency bond’s premium up to 3 years. This option works best for those who will maintain the same number of locations from one year to the next.
All surety bond amounts required for the WY collection agency bond will have a premium prepayment option.
$10,000 collection agnecy surety bond amount:
- If prepaid for 2 years, the premium is $180, a $20 savings;
- If prepaid for 3 years, the premium is $260, a $40 savings.
$50,000 surety bond:
- If prepaid for 2 years, the premium is $900, a $100 savings;
- If prepaid for 3 years, the premium is $1300, a $200 savings.
Purpose Of Your Surety Bond Requirement
Your surety bond is a financial guarantee of your compliance with the Wyoming Collection Agency Act, as amended.
You are, of course, also required to be in compliance with federal statutes, such as the Fair Debt Collection Practices Act.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide debt collection/collection agency surety bonds where required nationwide.
As an online aggregator of surety bonds, our agency provides license and permit, court, and probate surety bonds in all 50 states.
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