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Iowa Debt Management License Bond

How much does Iowa debt management license bond cost?

The Iowa Division of Banking requires debt professionals to post a $25,000 surety bond to legally work within the state.

SuretyBonds.com offers these bonds for different costs depending on each applicant’s credit report. The best way to find out exactly how much you’ll pay is to request a free surety bond quote!

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Debt Management License Bond $25,000 Starts at $250 $1,000-$2,000 $2,500+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

If you’re ready to get the Iowa surety bond you need, give us a call at 1 (800) 308-4358 or submit an online bond request. A member of our team will contact you right away to walk you through our fast and easy bonding process!

Why do I need this bond?

By posting a debt management bond in Iowa, principals (debt professionals) agree to abide by the provisions listed in Iowa Code Chapter 533A and all pertaining rules and regulations. Specifically, this bond ensures that the debt manager and/or his or her employees faithfully account for all money collected while on the job.

Get a free bond quote within 1 business day of applying when you work with SuretyBonds.com!

What’s the fine print?

Iowa debt management license bonds are continuous until canceled. To cancel the bond, the surety must file written notice with the Superintendent of Banking at least 30 days prior to the effective date of termination.

Additional Information for debt managers in Iowa

Debt managers must be licensed to conduct business legally in Iowa. Once licensed, the debt manager must describe the layout and design of his or her debt management program so that a debtor can make an informed decision about working with the manager. Specifically, managers must provide the debtor with the following information during this process:

  • the total estimated fee the debtor will pay for participating in the program
  • that the applicant cannot guarantee any specific results from participating in the program
  • that the debtor may elect to discontinue participation without penalty
  • that payments are not made to creditors on the debtor’s behalf, so the debtor is still obligated to make payments to creditors
  • that creditors can still attempt to collect debts while the debtor is enrolled in the program
  • and more

Take the first step toward getting licensed as a debt manager in Iowa by getting the surety bond you need. Let our experts do all of the work for you!

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Get a FREE Debt Management License Bond Quote Today!

State of Iowa Division of Banking Debt Management License Application and bond form

Iowa Chapter 533A Debt Management

Iowa 533A.8 Licensee Requirements

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