Delaware Debt Management Services Bond |
AmeriPro Surety Bonds | 844-589-9732
Delaware Debt Management Licensing
Debt management companies located in Delaware are licensed and regulated by the state’s Attorney General Office.
A condition of licensing is that you obtain a $50,000 surety bond. This amount is standard. According to the Attorney General, the amount may be increased at their discretion. An increase in surety bond amount will be determined by the amount held in the trust account; and our agency facilitates obtaining whatever amount is required.
Qualifying and the Premium
You are automatically approved for the $50,000 Delaware debt management services bond. There is no credit check, and the bond is issued to you immediately upon receipt of a short application and payment of the annual premium.
The premium is 1.5%, $750 annually.
When you call us, we’ll take an application from you over the phone. The questions are basic: Just the name, exactly as it should appear on your bond, and your contact information.
After payment of the premium, our agency issues your bond and a Power of Attorney form, which are then mailed to you.
Upon receipt by mail, you’ll sign your bond as Principal and have it attested by an assistant Secretary. All documents will then be filed to:
Director of Consumer Affairs
Carvel State Building
820 N. French Street – 5th Floor
Wilmington, DE 19801
Amounts Greater than $50,000
If you require a debt management services bond greater than $50,000, the differences are that your application will need to be signed by you and a witness; there is an underwriter review; and the underwriter review includes a standard person or professional credit inquiry.
In order to obtain approval, good credit is required. The premium is the same rate of 1.5%.
Premium Prepayment Options
The $750 premium associated with the $50,000 surety bond amount renews on the anniversary of your bond’s issuance.
Our agency also offers you the option to prepay your surety bond up to 3 years. Prepayment of the premium saves you over annual renewals, besides lengthening the time between renewals.
Using the $50,000 surety bond amount, the premium prepayment option and savings are as follows:
- If prepaid for 2 years, the premium is $1350, a $150 savings;
- If prepaid for 3 years, the premium is $1950, a $300 savings.
High amounts have proportionately corresponding premium prepayment options.
Purpose of Your Surety Bond Requirement
Statutorily, the purpose of your surety bond is to protect the state of Delaware from acts of fraud, omission, or other instances of malfeasance, Title 6, Commerce and Trade, Paragraph 243(a)(4).
AmeriPro Surety Bonds is a surety bonds-only agency. We provide debt management services surety bonds nationwide.
Our agency is also a provider of hundreds of other license and permit, probate, court, and fiduciary surety bonds in all 50 states.
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