Virginia
Credit Counselor/Debt Management Bond

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Coverage Amount: $25,000 - $150,000
Term Length: 1 year
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Virginia Debt Management Bond Guide

If you’re applying for a credit counselor or debt management license in Virginia, you’ll likely need this surety bond. 

Bond Overview

  • Purpose: To protect consumers from unfair or deceptive debt management practices
  • Who Needs It: Debt management plan providers and credit counseling agencies
  • Regulating Body: The Virginia State Corporation Commission
  • Required Coverage: $25,000–$150,000
  • Premium Rate: 1.5–10% based on credit score

Learn all about the bond requirements and process in this guide. 

What Is a Virginia Debt Management or Credit Counselor Bond?

A Virginia credit counselor or debt management services provider bond protects consumers from unfair or deceptive debt management practices. It creates a financial safeguard if companies do any of the following:

  • Engage in fraud
  • Break state regulations
  • Violate consumer contracts 

The Virginia State Corporation Commission (SCC) requires this bond as part of the licensing process for credit counseling and debt management plan providers in the state. 

Note: There is a separate Virginia credit services business bond requirement. Visit our bond page to apply.

How Much Do Debt Management/Credit Counseling Bonds Cost in Virginia?

Virginia credit counselor agency or debt management services provider bonds cost a small percentage of the required bond amount, typically 1.5–10% based on credit score.


Exact rates vary based on personal credit score. Apply for your free quote now!

Bond Type
$25,000-$150,000Credit Counselor/Debt Management Bond

SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees. 

Who Needs a Debt Management/Credit Counselor Bond? 

Both debt management plan providers and credit counselors employed by Virginia debt settlement services must be licensed and bonded with the state.

Debt settlement services include debt negotiation, credit counseling and any other action taken to obtain debt forgiveness or payment. 

How Do I Get My Bond?

SuretyBonds.com provides the fastest and easiest way to get a Virginia credit counselor or debt management services provider bond. Just follow these quick steps: 

  1. Apply: Submit an online quote request form
  2. Quote: Receive your quote within one day
  3. Sign: Complete the indemnity agreement 
  4. Buy: Purchase the bond online 24/7

We’ll email you the bond shortly after purchase. Be sure to file the bond with the Virginia SCC as instructed. 

If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance. 

How Does a Virginia Debt Management/Credit Counselor Bond Work? 

As with all surety bonds, a credit counselor or debt management services provider bond creates a legal contract between three parties: 

  1. Principal: You, the credit counseling agency or debt management provider filing the bond
  2. Obligee: The Virginia State Corporation Commission requiring the bond
  3. Surety: The provider issuing the bond

This holds you financially responsible for upholding the provisions of Chapter 20 of the Code of Virginia

If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety. 

How Do I Renew My Bond?

These bonds expire annually. To renew your credit counselor or debt management services provider bond, simply pay your renewal invoice when prompted. 

We’ll begin contacting you by phone and email 90 days before the expiration date. 

More Resources

Call 1 (800) 308-4358 to talk with a Surety Expert