Debt Adjusters Bond

The Nevada Debt Adjusters Bond is a type of surety bond required by the Nevada, Financial Institutions Division. It is part of the Debt Management Services License registration and managed via the Nationwide Mortgage Licensing System (NMLS). The Debt Management Services license authorizes the following activities:

• Debt Management/Credit Counseling
• Debt Negotiation
• Debt Settlement/Debt Adjuster

In the state of Nevada, a debt adjuster is a person who, for compensation, provides debt management services to consumers. Debt management services are defined as “services provided to a consumer to assist the consumer in managing, resolving, or paying all of the consumer’s debt.” This includes services such as:

• Budgeting and financial planning
• Negotiating with creditors to reduce or eliminate debt
• Setting up a payment plan to pay off debt
• Providing education and counseling on debt and credit issues

In order to provide debt management services in Nevada, a person must be licensed by the Commissioner of the Financial Institutions Division of the Nevada Department of Business and Industrial Commission. 

The minimum amount of the Nevada Debt Adjusters Bond is $35,000. The cost of the surety bond is usually between 1% and 3% of the bond amount. Surety1 will shop its many markets to procure the right price at the right terms.

How to get a Nevada Debt Adjusters Bond

At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:

1. Complete the easy to navigate and secure online application. ¹
2. Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day. ²
3. Sign some paperwork and pay the bond premium

Once these steps have been completed, the Nevada Debt Adjusters Bond will be Uploaded to the NMLS by Surety1.
^{1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
2- Subject to underwriter approval, based on aggregate surety bond exposure, additional underwriting information may be required}

Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.

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How to Get a Nevada Debt Management Services License

Obtaining a Nevada Debt Management Services (DMS) License involves fulfilling specific requirements and completing an application process. Here’s a comprehensive guide on how to get a Nevada DMS License:

1. Eligibility Requirements:
   • Be at least 18 years of age
   • Be a resident of Nevada
   • Have a high school diploma or equivalent

2. Pre-Licensing Education:
   • Complete and pass a 20-hour pre-licensing course approved by the Nevada Financial Institutions Division (FID).

3. Criminal Background Check:
   • Submit your fingerprints for a criminal history check through the FID.

4. Licensing Exam:
   • Schedule and pass the Debt Adjuster Licensing Exam administered by Pearson VUE.

5. License Application:
   • Download and complete the Nevada Debt Adjuster License Application form from the FID website.
   • Gather the required documentation, including:
     • Proof of eligibility (age, residency, education)
     • Background check results
     • Proof of pre-licensing education completion
     • Proof of insurance (General Liability, Errors and Omissions)
     • Financial statements for the past two years
     • List of all affiliates and their ownership structures
     • Copies of all agreements and forms used with Nevada consumers

6. Application Fees: Pay the application fee of $100 and the license fee of $100 to the FID.

7. Surety Bond Requirement: Obtain a $35,000 Nevada Debt Adjuster Bond

8. Application Submission: Submit the completed application form, along with all required documentation and fees, to the NMLS.

9. Application Processing: The FID will review your application and notify you of their decision.

If approved, you will receive your DMS License.

Renew your license every two years by submitting a renewal application and paying the renewal fee.

By following these steps and guidelines, you can successfully obtain a Nevada DMS License and begin providing debt management services to consumers in Nevada.