Wisconsin Adjustment Service Company Bond Guide
If you’re applying for an adjustment service company license in Wisconsin, you’ll likely need this surety bond.
Bond Overview
- Purpose: To protect clients from harm if an adjustment servicer company breaks state regulations
- Who Needs It: Adjustment service company owners
- Regulating Body: The Wisconsin Department of Financial Institutions
- Required Coverage: $5,000 per office location
- Premium Rate: 1–10%, credit-based
Learn all about the bond requirements and process in this guide.
What Is a Wisconsin Adjustment Service Company Bond?
A Wisconsin adjustment service company bond ensures that debt adjusters operate honestly and ethically.
The bond amount can be used to reimburse the state or clients if adjustment providers break licensing agreements.
How Much Do Adjustment Service Company Bonds Cost?
Wisconsin adjustment service company bonds cost a small percentage of the coverage amount, typically 1–10%.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs an Adjustment Service Company Bond?
The Wisconsin Department of Financial Institutions (DFI) requires this bond as part of the licensing process for adjustment service companies in the state.
This includes any company that prorates a debtor' s income to their creditors or purchases debtor accounts.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a Wisconsin adjustment service company bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll email you the bond shortly after purchase. Be sure to file it with the DFI as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Wisconsin Adjustment Service Company Bond Work?
An adjustment service company bond creates a legal contract between these three parties:
- Principal: You, the adjustment service company filing the bond
- Obligee: The Wisconsin Department of Financial Institutions requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of Wisconsin Statutes § 218.02.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your adjustment service company bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
