NM repossessor company bonds.
Flat 3%. $275 minimum.
New Mexico requires a repossessor company to file a $5,000 surety bond with the Financial Institutions Division before a license issues, under the Collection Agency Regulatory Act (§61-18A-15). At the $5,000 statutory amount the premium is the $275 minimum — a flat 3% with no credit check.
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Apply to filed in one sitting.
No underwriting queue for the standard repossessor bond — enter your amount, pay, and file with the Financial Institutions Division. Here is the whole thing:
Apply online
Your business details, the $5,000 bond amount, and the effective date — that is the entire application.
Issued on the spot
No credit check and no waiting — the executed bond is generated as soon as you pay.
File with the Financial Institutions Division
Submit the executed bond with your repossessor license application or renewal. Wet-ink originals mailed whenever the Division insists.
The whole pricing page.
Bond amount × 3% = your premium, one-time, $275 minimum. At the $5,000 statutory amount, the premium is the $275 floor.
What it is and who needs it.
What the repossessor bond actually covers
New Mexico regulates repossessor companies and collection agencies under the Collection Agency Regulatory Act, administered by the Financial Institutions Division of the Regulation and Licensing Department. Before a repossessor or collection license issues — or renews — the applicant must file a $5,000 surety bond.
The bond runs to the people of the State of New Mexico and provides for suit by any person who has a cause of action under the Collection Agency Regulatory Act or the rules under it. In practical terms, it stands behind your honest, lawful conduct in repossessing collateral and handling the property and money involved.
It is not insurance for you — if the surety pays a claim, you repay the surety. This is a license bond with a fixed statutory amount, not a credit-underwritten financial line; we issue it at a flat 3% with no credit check.
You need this bond if you are
Five minutes, issued on the spot.
Submit the application at the $5,000 statutory amount — the executed bond is generated instantly, ready to file with the Financial Institutions Division.
Start the application →Common questions.
If yours isn't here, the bond team can usually answer within the hour.
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Other New York bonds.
Repossessor bond, issued today.
Five-minute application, flat 3%, $275 minimum. File with the Financial Institutions Division the same day.