Bonded Collection Agencies

[eseelye]

Does anyone have any information about bonding collection agencies in NY? Where do I find the State Banking site?

THanks in advance!

 

[JasonRT]

Dear eseelye,

You may wish to consider membership in the American Collector's Association. The bond they provide their members may be sufficient to cover New York's requirements. Otherwise, your commercial insurance broker should be able to get you a reasonable bond rate.


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[eseelye]

I'm sorry, I meant finding out about collection agencies that are bonded, meaning is it legal for them to collect on a debt in NY if they aren't bonded?

Thanks for the reply, but since my posting I found the information needed. Collection Agencies don't need to be bonded or licensed in NY to collect on a debt.