The Vermont Debt Adjuster Bond is required by the Department of Financial Regulation in the amount of $50,000. The bond states that the bondholder shall faithfully conform to the provisions of Title 8, Vermont Statutes Annotated Act. In addition, they shall conform to the rules, regulations and orders made by the Commissioner.
Who needs a Vermont Debt Adjuster Bond?
The surety bond is a requirement for all those who are getting a debt adjuster license. A debt adjuster is any person who:
- Enters into an agreement with a debtor and agrees to distribute, supervise, coordinate, negotiate, or control the distribution of money among one or more of the debtor’s creditors.
- Provides services as an intermediary between a debtor and one or more of the debtor’s creditors for the purpose of obtaining concessions.
- Solicits debt adjustment services from within Vermont.
- Solicits debt adjustment business with an individual residing in Vermont.
- Enters into, or succeeds to, a debt adjustment contract with a Vermont resident.
- Provides a program or strategy which includes a proposed or actual payment or schedule of payments to be made by or on behalf of the debtor to pay a debt owed by the debtor.
What are other additional licensing requirements ?
- Payment of $750 for Initial Application fees
- Credit report
- FBI Criminal Background Check
- Company Form MU1
- Financial statements
- Bank account information
- Business plan
- Certificate of Authority
How do I obtain a Vermont Debt Adjuster Bond ?
Surety1 can easily get you the bond that you need. You can be assured of the lowest rates as we have partnered with over a dozen A-rated surety markets. We have friendly agents who are willing to answer all your queries and give you only the best service.
First, start the process by completing our easy to navigate, free online application form. Then, after your application has been submitted, one of our surety agents will contact you with a no-obligation quote on the bond premium. After that, once you are ready to move forward, you just need to pay the premium and sign the agreement. Lastly, your Vermont Debt Adjuster bond will be mailed to you by USPS Priority Mail. Overnight delivery is also available for an additional fee.
Surety1 has been in the business since 2003. We are licensed in all 50 states and our services have earned an A+ rating from the Better Business Bureau.