{"id":646,"date":"2013-03-24T05:34:34","date_gmt":"2013-03-24T05:34:34","guid":{"rendered":"http:\/\/suretyone.com\/blog\/?p=646"},"modified":"2017-01-03T16:20:40","modified_gmt":"2017-01-03T16:20:40","slug":"michigan-collection-agency-bond","status":"publish","type":"post","link":"https:\/\/suretyone.com\/blog\/michigan-collection-agency-bond\/","title":{"rendered":"Michigan Collection Agency Bond"},"content":{"rendered":"<p>A collection agency in the State of Michigan must be licensed and provide a\u00a0<strong><a title=\"Surety One commercial surety page\" href=\"https:\/\/suretyone.com\/commercial-surety-bonds\" target=\"_blank\">Michigan collection agency bond<\/a><\/strong>. \u00a0The state agency regulating debt collection activity, the\u00a0<a title=\"Maryland Commissioner of Fin Reg\" href=\"http:\/\/www.dllr.state.md.us\/finance\/industry\/collag.shtml\" target=\"_blank\">D<\/a>epartment of Licensing and Regulatory Affairs is the <a title=\"MI Dept of Lic &amp; Reg Affairs\" href=\"http:\/\/www.michigan.gov\/statelicensesearch\/0,4671,7-180-24786_24809-81003--,00.html\" target=\"_blank\">regulating agency<\/a>. It\u00a0defines a &#8220;collection agency&#8221; as a person directly or indirectly engaged in soliciting a claim for collection, or collecting or attempting to collect a claim owed or due, or asserted to be owed or due another, or repossessing or attempting to repossess a thing of value owed or due, or asserted to be owed or due another arising out of an expressed or implied agreement.\u00a0The\u00a0<strong>Michigan collection agency bond<\/strong>\u00a0must be issued in the amount of $5,000 for the agency&#8217;s first year of business, and adjusted thereafter based on the agency&#8217;s average monthly business. \u00a0The bond guarantees that the licensed agency will account for all moneys collected upon accounts entrusted to him\/her and remit proceeds of collections made to the entitled party(ies). \u00a0The\u00a0<strong>nation\u2019s surety leader<\/strong>,\u00a0<a title=\"Surety One\" href=\"https:\/\/suretyone.com\/\" target=\"_blank\">Surety One, Inc.<\/a>, is a specialist in the bonding needs of the financial services sector. \u00a0We will issue these\u00a0<em>surety bonds\u00a0<\/em>for ALL applicants in every state that requires bonding of collection agencies. We also offer superlative\u00a0<a title=\"Surety One fidelity bond page\" href=\"https:\/\/suretyone.com\/fidelity-bonds\" target=\"_blank\">fidelity bond<\/a>\u00a0coverages to protect against losses due to employee dishonesty. \u00a0Visit <a title=\"Surety One\" href=\"https:\/\/suretyone.com\/\" target=\"_blank\">SuretyOne.com<\/a>, call\u00a0<span style=\"color: #ff0000;\">(787) 333-0222\u00a0<\/span>or\u00a0<span style=\"color: #ff0000;\">(800) 373-2804<\/span>, or email\u00a0<span style=\"color: #ff0000;\">Underwriting@SuretyOne.com<\/span>\u00a0for an\u00a0<strong>Michigan collection agency bond<\/strong>\u00a0application or information about any bond product.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A collection agency in the State of Michigan must be licensed and provide a\u00a0Michigan collection agency bond. \u00a0The state agency regulating debt collection activity, the\u00a0Department of Licensing and Regulatory Affairs is the regulating agency. It\u00a0defines a &#8220;collection agency&#8221; as a&#8230; <a class=\"more-link\" href=\"https:\/\/suretyone.com\/blog\/michigan-collection-agency-bond\/\">Continue Reading &rarr;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[139],"tags":[811,812,809,813,810],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Michigan Collection Agency Bond &bull; Surety One, Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/suretyone.com\/blog\/michigan-collection-agency-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Michigan Collection Agency Bond &bull; Surety One, Inc.\" \/>\n<meta property=\"og:description\" content=\"A collection agency in the State of Michigan must be licensed and provide a\u00a0Michigan collection agency bond. \u00a0The state agency regulating debt collection activity, the\u00a0Department of Licensing and Regulatory Affairs is the regulating agency. 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