MI collection agency bonds.
From $100. Enter your amount.
A licensed Michigan collection agency must file a corporate surety bond under MCL 339.907 — the state sets the amount between $5,000 and $50,000, conditioned on the faithful accounting of all money collected on accounts entrusted to the agency. This is the corporation/LLC version of the bond. The premium is 1% of the bond amount, $100 minimum, the bond issues the moment you pay, and any credit screen is a soft pull only — it never affects your score.
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Apply to filed in one sitting.
No quote round-trip — enter your amount, pay, and the executed bond goes out the same day. Here is the whole thing:
Apply online
Your business details, the bond amount your license requires, and an effective date — that is the entire application, and any credit screen is a soft pull that never shows as a hard inquiry.
Pay & e-sign
The premium is 1% of the bond amount, $100 minimum — priced at checkout, so the bond issues the moment you pay. Your executed bond and power of attorney generate on the spot.
File with your license
Your executed bond arrives by email, ready to file with your Michigan collection agency license application or renewal. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
Michigan licenses collection agencies under Article 9 of the Occupational Code, 1980 PA 299, and MCL 339.907 requires each licensee to file a corporate surety or cash bond. The state sets the amount it considers necessary — not less than $5,000 and not more than $50,000.
The bond runs for the benefit of a person damaged by the wrongful taking of money collected by the agency or the failure of the agency to report or remit proceeds — it is conditioned on the faithful accounting of all money collected on accounts entrusted to the agency, and injured parties can sue on it, with the surety’s aggregate liability capped at the bond amount.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond has to stay continuously on file with your license; we track the term and send renewal notices 60 and 30 days out.
You need this bond if you're
One application, issued instantly.
Submit the application with the bond amount your license requires — the executed bond is generated the moment you pay, ready to file.
Start the application →Common questions.
Other Michigan bonds.
Collection agency bond, issued today.
1% of the bond amount, $100 minimum, with your exact price at the application. Enter your required amount and file the same day.