Illinois collection agency bonds.
$125 flat.
Looking for the Illinois credit services organization bond?
Illinois licenses collection agencies through the Department of Financial and Professional Regulation, and the Collection Agency Act requires every licensed agency to file and maintain a $25,000 surety bond under 205 ILCS 740/8. Ours is $125 flat, the price you see is the checkout price. No credit check.
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How much does an Illinois collection agency bond cost?
$125 at the $25,000 amount, the same for every applicant.
Three steps. One sitting.
Collection agency license bonds are among the simplest filings in surety. 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 at $125 flat, so it issues the moment you pay — your executed bond and power of attorney generate on the spot.
File with IDFPR
Your executed bond arrives by email, ready to file with your collection agency license application at the Department of Financial and Professional Regulation. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
Illinois regulates collection agencies under the Collection Agency Act — recodified at 205 ILCS 740 and administered by the Department of Financial and Professional Regulation's Division of Financial Institutions. Section 8 requires a licensed agency to file and keep in force a $25,000 surety bond, issued by an insurer authorized to write fidelity and surety business in Illinois, in the form prescribed by the Secretary.
It's a three-party arrangement: you (the principal), the surety carrier, and the State (the obligee). The bond runs to the benefit of creditors — if an agency collects money on a client's account and fails to remit it, a creditor who wins a judgment can recover against the bond. The bond is continuous in form and runs concurrently with each license period.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond has to stay continuously on file for the license to remain in good standing; we track the term and send renewal notices 60 and 30 days out.
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 $25,000 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 with IDFPR. Your executed bond arrives by email, ready to file with your collection agency license application at the Department of Financial and Professional Regulation. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $125 at the $25,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
No credit check.
One application, issued instantly.
These are the actual issuing fields — business details, an effective date, and a term. That is the entire application.
Start the application →Common questions.
Other Illinois bonds.
The same bond in nearby states.
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Price and requirements checked on the carrier’s application, . Page updated .
Finish your collection agency license today.
$125 flat, issued the moment you pay, no credit check. Free until issued.