Connecticut consumer collection agency bonds.
$250.
Connecticut licenses consumer collection agencies through the Department of Banking, and CGS § 36a-802 conditions the license on a $50,000 surety bond for the main office, filed electronically through NMLS. The premium is 0.5% of the bond amount, $100 minimum, so $250 for the $50,000 bond.
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How much does a Connecticut consumer collection agency bond cost?
$250 for the $50,000 bond: 0.5% of the bond amount.
Three steps. One sitting.
The bond side of your collection agency license is the easy part. Here's the entire process:
Apply online
Business details, an effective date, and a term. That is the application. No credit check.
Pay & e-sign
This bond is checkout-priced — $250, so it issues the moment you pay — your executed bond and power of attorney generate on the spot.
File through NMLS
Connecticut takes this bond as an electronic surety bond through NMLS — we handle the electronic filing to the Department of Banking, and a wet-ink original is mailed on request.
What it is and who needs it.
What the bond actually guarantees
Connecticut requires anyone acting as a consumer collection agency — collecting consumer, property-tax, or federal-income-tax debts owed to others — to hold a license from the Department of Banking. CGS § 36a-802 conditions the license on a surety bond of $50,000 for the main office and $50,000 for each branch office, running to the people of the State of Connecticut.
It's a three-party arrangement: you (the principal), the surety carrier, and the state (the obligee). Any person damaged by the wrongful conversion of creditor, consumer debtor, property tax debtor, or federal income tax debtor funds received by the agency can recover against the bond — and the Banking Commissioner can also proceed on it for civil penalties and restitution.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond must run concurrently with the license, so we track the term and send renewal notices 60 and 30 days out to keep your filing continuous.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the $50,000 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose; a longer term is the same price per year, chosen at checkout.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File through NMLS. Connecticut takes this bond as an electronic surety bond through NMLS — we handle the electronic filing to the Department of Banking, and a wet-ink original is mailed on request.
What sets the price
The premium is 0.5% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check.
One application, issued instantly.
These are the actual issuing fields. No credit check.
Start the application →Common questions.
Other Connecticut bonds.
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Price and requirements checked on the carrier’s application, .
Finish your collection agency license today.
$250 for the $50,000 bond, issued the moment you pay, no credit check. Free until issued.