The Delaware Debt Management Services License Surety Bond is required by the State of Delaware Attorney General at a bond amount of $50,000. The bond is in place for the benefit of any consumers injured by any wrongful act, omission, default, fraud, or misrepresentation by a Licensee or agent of a licensee including an agent managing a trust account.
What are the requirements for a Debt Management Services License in Delaware?
The Delaware Code defines debt management services as an intermediary between an individual and 1 or more unsecured creditors in order to get concessions. Take note that this is excluding legal services, accounting services, and financial planning services. If you wish to be in this line of profession, you will need to obtain a license. The list below are the requirements that must be met in order to obtain this license:
- A completed application form
- Proof of good standing
- Payment of a non-refundable fee of $2000
- Insurance amounting to $250,000
- Accreditation from an independent organization approved by the Attorney General
- A description of the programs that you will use, including the materials
- A financial analysis and budget plan
- Certification for each counselor
- A Delaware Debt Management Services License Surety Bond amounting to $50,000 issued by a surety company licensed to legally operate in the state.
- Note: Surety1 is licensed in all 50 states and represents over a dozen “A” rated markets!
Where can I get a Delaware Debt Management Services License Surety Bond?
To get started, all you need to do is fill out our easy to navigate online application form. The application will only take a few minutes, then one of our licensed agents will contact you within 24 hours with a free, no-obligation quote for the cost to obtain your bond. The cost to obtain the bond (also known as the premium) will generally be a small percentage of the bond amount (which is $50,000). After you have remitted the premium payment and signed any necessary paperwork, your bond will be shipped to you via USPS priority mail, with overnight shipping options also available.
Surety1 has been writing bonds in Delaware since 2003. Our surety experts provide fast and friendly service, maintaining our A+ rating by the Better Business Bureau.