ME repossession bonds.
From $100. Enter your amount.
Maine licenses repossession companies as debt collectors under the Maine Fair Debt Collection Practices Act, and 32 M.R.S. §11032 requires each licensee to file and maintain a surety bond in the amount the administrator determines — the Bureau of Consumer Credit Protection sets $15,000 for a new repossession applicant, scaling with collection volume at renewal. The bond is continuous until canceled. The premium is 1% of the bond amount, $100 minimum — your exact price appears at the application, and any credit screen is a soft pull only, never a hard inquiry.
Trusted by industry leaders
Apply to filed in one sitting.
No underwriting queue — enter your amount, pay, and file with the Bureau. Here is the whole thing:
Apply online
Business details, the bond amount the Bureau set, an effective date, and a term. That is the entire application — any credit screen is a soft pull that never shows as a hard inquiry.
Pay & e-sign
This bond is checkout-priced at 1% of the bond amount ($100 minimum), so it issues the moment you pay — your executed bond and power of attorney generate on the spot.
File with the Bureau
Your executed bond arrives by email, ready to file with your debt collector license at the Bureau of Consumer Credit Protection. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
Maine treats repossession companies as debt collectors under the Maine Fair Debt Collection Practices Act (Title 32, Chapter 109-A) and licenses them through the Bureau of Consumer Credit Protection. Under 32 M.R.S. §11032, each licensee files and maintains a surety bond in the amount the administrator determines reasonably necessary to safeguard the public — the Bureau's schedule starts a repossession-only applicant at $15,000, with renewal amounts tiered by average monthly Maine collections up to $50,000.
It's a three-party arrangement: you (the principal), the surety carrier, and the State of Maine (the obligee). The bond stands behind your handling of repossessed collateral and collected funds — accounting for and delivering property and remitting sums due — so consumers and creditors harmed by a violation have recourse.
It is not insurance for you — if the surety pays a claim, you repay the surety. This form is continuous until canceled: the surety must give written notice to cancel, and cancellation never affects liability for anything that happened before it. We track the bond and send renewal notices 60 and 30 days out.
You need this bond if you're
One application, issued instantly.
These are the actual issuing fields — business details, your bond amount, an effective date, and a term. That is the entire application.
Start the application →Common questions.
Other Maine bonds.
Finish your repossession license today.
1% of the bond amount, $100 minimum, issued the moment you pay. Free until issued.