A collapsible luring dredge device includes a hub assembly having a plurality of separate hub sections each adapted to hold an extended spreader bar and together joined into a stacked unit assembled along a central axis with a pair of spring-loaded detents disposed within the stacked unit on opposite sides of the central axis. Inner surfaces of the hub sections at each end of the hub assembly are formed with a plurality of concave cavities arranged in a circular pattern intended to engage the detents as the hub sections are selectively rotated about the central axis. The hub assembly may thus be moved through a set of registered positions between a deployed configuration wherein the spreader bars are maintained in a substantially radial pattern for trolling use and a folded configuration wherein the bars are substantially aligned for storage.