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Texas Collection Agencies are required under the Texas Financial Code chapter 392 to file a Texas Collection Agency Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Texas Collection Agency Bond holds you accountable for your business decisions.
By possessing a Texas Collection Agency Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.