NM collection agency bonds.
0.5% of the bond amount.
New Mexico licenses collection agencies through the Financial Institutions Division of the Regulation and Licensing Department, and NMSA § 61-18A-15 conditions every license and renewal on a surety bond in the penal sum of $5,000 — an amount the director can increase by regulation or order. The premium is 0.5% of the bond amount, $100 minimum, the bond issues the moment you pay, and any credit screen is a soft pull only — never a hard inquiry, and it never affects your score.
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Three steps. One sitting.
Collection agency bonds are amount-priced, not underwriting-priced. Enter the amount the FID set, pay, and file. Here is the entire process:
Apply online
Agency details, your applicant county, the bond amount the FID requires, an effective date, and a term. That is the whole application — any credit screen is a soft pull that never shows as a hard inquiry.
Pay & e-sign
The bond issues the moment you pay — your executed bond and power of attorney generate on the spot at 0.5% of the bond amount, $100 minimum.
File with the Financial Institutions Division
Your executed bond arrives by email, ready to file with your collection agency license application or renewal. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
New Mexico regulates collection agencies under the Collection Agency Regulatory Act, administered by the Financial Institutions Division of the Regulation and Licensing Department. Section 61-18A-15 requires that, before any collection agency or repossessor license is issued or renewed, a surety bond in the penal sum of $5,000 be filed with the division — written by a corporation licensed by the superintendent of insurance to write fidelity and surety business.
The bond runs to the people of the State of New Mexico and provides for suit by any person with a cause of action under the Act — most often a creditor whose collected proceeds were not remitted. The FID sets the operating amount at $5,000 or the proceeds due clients for at least two average collections in the prior year, capped at $25,000, with an additional $5,000 bond for each licensed branch.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond must stay in full force concurrently with the license: if the surety withdraws, the license becomes void unless a replacement bond is filed within thirty days. We track the term 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 — agency details, your applicant county, the bond amount, an effective date, and a term.
Start the application →Common questions.
Other New Mexico bonds.
Collection agency bond, filed today.
0.5% of the bond amount, $100 minimum, issued the moment you pay. Soft pull only, free until issued.