INSTRUCTIONS for COMPLETING COLLECTION AGENCY BOND APPLICATIONS NOTE This application must be comple 2025

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Within five days after a debt collector first contacts you, it must send you a written notice, called a validation notice, that tells you (1) the amount it thinks you owe, (2) the name of the creditor, and (3) how to dispute the debt in writing.
Once you dispute the debt, the debt collector must stop all debt collection activities until it provides you with proof that you actually owe the debt. If the debt collector cant provide you with that proof, it will never bother you again.
A collection agency bond is sometimes also called a debt collector bond, and its a specific kind of surety bond, which guarantees that you will observe all the appropriate rules and regulations of your profession in the conduct of your operations.
Debt collectors cannot harass or abuse you. They cannot swear, threaten to illegally harm you or your property, threaten you with illegal actions, or falsely threaten you with actions they do not intend to take.
Account statements showing the debt amount, including charges, payments and interest. Documentation showing the collectors right to pursue the debt. Records demonstrating the chain of ownership if the debt has been sold. A detailed accounting of the total amount owed, including fees and interest charges.
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A good collection agency can conduct research based on an old address or old phone number. Supporting documents, such as a signed contract, invoice, or other paperwork, can be very helpful. A debt collector will be more confident if they have documentation to back up the claim.

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