Rhode Island Debt Management Services Bond

Click Here to Apply for the Surety Bond 

The Rhode Island Debt Management Services Bond is a type of surety bond required to obtain a DEBT MANAGEMENT SERVICES REGISTRATION (License) in the state. Debt-management services” means services as an intermediary between an individual and one or more creditors of the individual for the purpose of obtaining concessions. While the registration is a requirement of the Department of Business Regulation, Division of Banking, the registration application and administration is through the Nationwide Mortgage Licensing System (NMLS). 

Total License costs: $300.00; the NMLS processing fee has been waived. A $15 fee for a credit report will be added if one has not been authorized through NMLS in the past 30 days for each required control person. $36.25 will be added per FBI Criminal Background Check authorization. Fees collected through the NMLS ARE NOT REFUNDABLE. The Qualifying Individual for the registration must have a minimum of five (5) years experience in the debt management services industry.  Click her for a checklist of the license requirements. 

Surety Bond

Bond amount:

Registration 9Licensee) is required to obtain and maintain a bond in the sum of fifty thousand dollars ($50,000) base amount increasing coverage by ten thousand dollars ($10,000) for 4 to 7
agent locations and twenty five thousand dollars ($25,000) for 8 or more agent locations (Agent locations DO NOT need to obtain a license). The Rhode Island Debt Management Services Bond is filed electronically by Surety1.com with the NMLS. 

How to obtain a Rhode Island Debt Management Services 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.
3. Sign some paperwork and pay the bond premium

Once these steps have been completed, the Rhode Island Debt Management Services Bond will be filed electronically with the NMLS.
^{1-The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the registration/ license.} 

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. We also maintain an A+ rating from the Better Business Bureau.

Visit our State-By-State Guide to Credit Services Bonds