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Colorado Debt Management Services Provider Surety Bond
Bond Requirements and Online Application
According to the Uniform Debt Management Services Act, all Debt Management Providers operating in Colorado must provide a Colorado Debt Management Services Provider Surety Bond. The standard bond amount is $50,000. Credit counseling companies operating in Colorado would be required to meet the surety bond requirement of the Act. A “provider” is a person that provides, offers to provide, or agrees to provide debt-management services directly or through others.
What are the requirements in order to be a Colorado Debt Management Services Provider?
$1,000 for the registration fee, payable to Colorado Uniform Consumer Credit Code
A filled-out personal history form of every person with at least 10% ownership, any director, officer, agent, or any person who is authorized to initiate transactions to the trust account
A statement that the criminal records check has been submitted
Copies of all the registration and license verification forms
An audited financial statement for the past two years
Description of what educational programs will be provided and also the applicant’s financial analysis plan that will evaluate the consumers
A letter of credit or a surety bond worth $50,000 to show financial responsibility.
The surety bond, which must be issued by a company licensed to do business in Colorado, is a form of assurance for the state that you, as the applicant, promises to conduct your business professionally, following all the rules and regulations of the state.
Where can I get a Colorado Debt Management Services Provider Surety Bond?
Surety Solutions Insurance Services, Inc. (Surety1) can easily issue this surety bond. Simply fill out this online application and you will receive a firm quote from one of our agents within one business day.
How to Get Your Colorado Debt Management Services Provider Surety Bond
1. Complete an online application. It's free and no-obligation.2. One of our surety experts will contact you with a firm quote and an agreement to sign.3. Provide payment and your signed agreement, and then you will receive your Colorado Debt Management Services Provider Surety Bond!If you have any questions, please call us at 877-654-2327.
HOW TO GET BONDED
1. Apply OnlineUsing our Free & Secure Application2. Get Your Free QuoteApplications are No-Obligation3. Get Your BondMost Bonds are Approved in 1-2 Business Days