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Learn more about debt management service provider bonds
Some states (obligees) require those who provide debt management services (principals) to file surety bonds to legally operate.
Debt management service provider bonds are a form of consumer protection. The surety provider guarantees the obligee will be compensated in the event the principal does not fulfill the terms of the agreement and prohibits principals from engaging in activities such as purchasing debts of consumers, providing credit to a consumer, or engaging in unfair or deceptive debt management practices.
If the principal violates any of the terms of the bond agreement and consumers are harmed, the surety will cover all damages up to the full bond amount. The principal, in turn, must compensate the surety for any damages paid out.
How much will my debt management service provider bond cost?
SuretyBonds.com works with more than 25 exclusive underwriting markets to offer our clients the industry's lowest rates available. The price you'll pay for your debt management service provider bond depends on the bond amount, the state/municipality requiring the bond, the risk associated with the specific project, and possibly your personal financial credentials.
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Bond amounts less than $25,000 can be approved instantly for all applicants without underwriting, typically at a rate of 1% or less of the bond amount.
Bond amounts greater than $25,000 require underwriting, and applicants can expect to pay premiums that start at 3% of the bond amount. Applicants with poor credit should expect to provide additional financial documents for underwriting consideration.
The best way to determine your debt management service provider bond cost is to get a free, no-obligation price quote from SuretyBonds.com today.
How do I apply?
SuretyBonds.com strives to provide every client with a fast, easy, and accurate surety bond process.
- Step 1: Submit your application online 24/7. Or, call 1 (800) 308-4358 between 7 a.m. and 7 p.m. CST Monday through Friday to speak with a surety expert.
- Step 2: Get your free quote.
- Step 3: Pay for your bond. We offer quick, easy, and convenient online payment options 24/7.
How fast can I get my bond?
Whether you're in California, Georgia, or somewhere in between, you can expect a same-day document issuance once you've submitted payment for your surety bond. You'll receive a digital document set via e-mail once it's been issued.
Most states and local municipalities that require debt management service provider bonds require physical document sets with wet, original signatures and raised seals, in which case we'll ship a package to you according to your delivery preferences. We always offer overnight shipping to expedite physical document delivery.
If you have additional questions, fill out a quick and easy contact form online or call 1 (800) 308-4358 to speak with a surety bond expert.