Rhode Island debt collector bonds.
$250 flat.
Rhode Island requires a debt collector to register with the Department of Business Regulation before collecting in the state, and R.I. Gen. Laws § 19-14-6 conditions that registration on a $50,000 surety bond running to the state. Ours is $250 flat.
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How much does a Rhode Island debt collector bond cost?
$250 at the $50,000 amount, the same for every applicant.
Three steps. One sitting.
Debt collector registration bonds are among the simplest filings in surety. Here is the entire process:
Apply online
Business details, the owner, an effective date, and a term. That is the application. No credit check.
Pay & e-sign
This bond is checkout-priced at $250 flat, so it issues the moment you pay — your executed bond and power of attorney generate on the spot.
File through NMLS
Your executed bond arrives by email, ready to attach to your debt collector registration record for the Division of Banking. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
Rhode Island regulates collection activity under the Rhode Island Fair Debt Collection Practices Act (chapter 19-14.9): no person may engage in the business of a debt collector, or solicit the right to collect payment for another, without first registering with the director of the Department of Business Regulation. Section 19-14-6 sets the bond at fifty thousand dollars ($50,000).
The bond runs to the state for the use of the state and of any person who may have cause of action against the obligor — consumers harmed by an unlawful collection practice, and the state enforcing the Act. You are the principal, the carrier is the surety, and Rhode Island is the obligee.
It is not insurance for you — if the surety pays a claim, you repay the surety. The surety may be released only after giving the director advance notice of cancellation, so the bond has to stay continuously on file. 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 $50,000 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 through NMLS. Your executed bond arrives by email, ready to attach to your debt collector registration record for the Division of Banking. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $250 at the $50,000 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, the owner, an effective date, and a term. That is the entire application.
Start the application →Common questions.
Other Rhode Island bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Finish your debt collector registration today.
$250 flat, issued the moment you pay, no credit check. Free until issued.