Debt adjusters in New Jersey are licensed and regulated by the state’s Department of Banking and Insurance, Service Bureau.
As a condition of licensing, new applicants and renewal applicants must provide evidence of filing at least one surety bond.
AmeriPro Surety Bonds offers both new and renewal debt adjuster bonds.
The New Jersey debt adjuster bond is a $50,000 surety bond required by the Department.
There is also a $25,000 surety bond requirement for each branch office in addition to the main office.
The cost of the New Jersey debt adjuster bond will be determined by both a surety bond application (which can be taken directly over the phone), and a credit score.
The other major factor will be the amount of surety bond required.
As a broad general rule, an applicant may pay as little as 1%, for this bond; however, the amount that you will pay will be determined by the above criteria and may vary considerably based on your credit.
AmeriPro Surety Bonds will work to find you the best surety bond pricing.
Once issued, the bond is active for a period of one year from the date of issuance. An active surety bond must remain on file as a condition of licensing.
The bond or bonds are required as a financial guarantee which ensures your compliance with N.J.S.A. 17:16G-1 of the state’s regulations.
The New Jersey debt adjuster bond protects the people of New Jersey from acts of fraud, theft, misrepresentation and malfeasance that a debt adjuster may commit.
The protections afforded the people of New Jersey by this surety bond also extend to wrongdoing committed by agents, employees, and managers of a debt adjuster company.
As the principal of this bond, if there is every any claim judged credible and then subsequently paid against your bond, you must reimburse the surety in full for all costs and fees involved in the payment of any claim.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, contractor, court, and fiduciary surety bonds throughout New Jersey.
Our agency also provides surety bonds nationwide.
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Or, you may fill out our form below for a surety agent to contact you!