Debt adjusters in New Hampshire are licensed and regulated by the state’s Banking Department.
As part of the licensing process, a surety bond is required in one of two amounts:
Meeting the qualifications for the $25,000 New Hampshire debt adjuster bond is the easier of the two amounts. You are automatically approved for the $25,000 surety bond amount as there is no credit check nor review by an underwriter.
After completing a very short surety bond application – which we’ll take from you over the phone --- and payment of the $375 annual premium, the $25,000 surety bond amount is issued to you immediately.
Being approved for the $100,000 NH debt adjuster surety bond involves completion of an application --- but one which you will also need to sign and have “witnessed”. There is the additional step of a review by an underwriter.
As part of the underwriting process, there is also a credit review. Good credit is required and approval is at 1.5%, $1500 premium.
In both cases, once the premium has been paid, the bond is issued to you immediately. Your surety bond, along with the Power of Attorney form are sent to you for filing. Upon receipt, you’ll sign your bond as Principal and file to the state’s Department of Banking.
For both surety bond amounts, prepayment of the premium options are offered. Prepayment of the premium allows you a savings over annual renewals, besides also lengthening the time between renewals.
The premium prepayment options are as follows:
The purpose of this surety bond requirement, for both amounts, is a financial guarantee which ensures your compliance with the New Hampshire Revised Statutes Annotated, 399-D, and any future amendments.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide debt adjuster surety bonds nationwide where required.
Our agency also provides license and permit surety bonds in all 50 states.
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