The Pennsylvania Debt Settlement Bond is a type of surety bond required by the Pennsylvania Department of Banking and Securities to obtain a Debt Settlement license. The license application isPennsylvania Debt Settlement Bond processed through the  Nationwide Mortgage Licensing System (NMLS).  Debt settlement is defined by Pennsylvania as:

An intermediary between an individual and one or more unsecured creditors of the individual for the purpose of obtaining concessions where the contemplated concessions involve a reduction in principal of the individual’s unsecured debt owed for personal, family or household expenses to at least one creditor.

A debt settlement services license is required by any person, as defined by the Debt Settlement Services Act, who markets, solicits, offers to provide or agrees to provide debt settlement services for a fee or other consideration. The surety bond is required as part of the license process.

There are two debt settlement licenses in Pennsylvania:

  • Debt Settlement Services (DS) License: This license is required for any person who markets, solicits, offers to provide, or agrees to provide debt settlement services for a fee or other consideration. The DS license is available to both individuals and businesses.
  • Debt Settlement Services (DN) License: This license is specifically for domestic or foreign not-for-profit corporations or associations registered under 15 Pa.C.S. Pt. II Subpt. C (relating to nonprofit corporations) with the Secretary of the Commonwealth that has annual gross revenues from debt settlement services fees and charges of less than $3,000,000 annually.

The Pennsylvania Debt Settlement Bond amount for the DS license is $50,000. The surety bond amount for the DN license is $10,000.

The license application checklist can be found here.

Do not confuse this license with the Debt Management Services License or Credit Services , both of which require a separate license.

How to get a Pennsylvania Debt Settlement Bond

At we make it easy to obtain this surety bond. Our simple 3 step process is:

  1. Apply for your bond with our user friendly and secure online application.1
  2. Review your free, no obligation quote from one of our surety bond professional agents (usually within 1 business day).
  3. Sign some paperwork and make payment (all major credit cards accepted).

Once these 3 steps are completed, the bond will be shipped for the required original signature. Once signed, the surety bond must be uploaded to the NMLS. The cost of the bond is usually between 1% and 3% of the bond amount, subject to a minimum premium and fees of $150 to$250. Surety1 will shop its many markets to procure the right price at the right terms.
1. The name surety bond application must match exactly the Full Legal Name of license applicant. is a service of AssuredPartners, one of the nation’s largest and fastest growing insurance agencies. is the premier online provider of surety bonds nationwide since 2003.

Entities exempt from the license requirement

There are certain entities that are exempt from the Debt Settlement Services Act, including:

  • A bank, bank holding company or the subsidiary, agent or affiliate of either, or a credit union or other financial institution licensed charted under Federal or State law.
  • A judicial officer, a person acting under an order of a court or an administrative agency or an assignee for the benefit of creditors.
  • A title insurer, escrow company or other person that provides bill-paying services if the provision of debt settlement services is incidental to the bill-paying services.
  • A licensee under the Act of October 9, 2008 (P.L.1421, No.117), known as the Debt Management Services Act, when the provision of Debt Settlement Services is incidental
    to the provision of Debt Management Services
  • An attorney not otherwise engaged in or holding himself or herself out to the public as being engaged in Debt Settlement Services who acts as an intermediary between an individual and one or more of the individual’s creditors in the normal course of legal practice. This paragraph shall not apply if the attorney is compensated by a provider.

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Pennsylvania Debt Settlement Bond

How to Get Your Pennsylvania Debt Settlement 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 Surety Bond!

If you have any questions, please call us at 877-654-2327.

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1. Apply Online
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2. Get Your Free Quote
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3. Get Your Bond
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