Oregon Debt Management Company Bond | AmeriPro Surety Bonds | 844-589-9732
AmeriPro Surety Bonds provides both new and renewal Oregon debt management company bonds.
Once purchased, these bonds are filed electronically through NMLS. Our agency will electronically file this bond on your behalf.
AmeriPro Surety Bonds is there to work with you every step of the way in the acquiring the right surety bond needed.
Oregon Debt Management Companies
Oregon debt management companies, for fees in amounts regulated by the state, help people resolve their debt issues.
Debt resolutions in Oregon include “credit repair”, debt settlement, and debt forgiveness.
In Oregon this industry is regulated by the Division of Financial Institutions and Professionals.
Becoming Licensed as an Oregon Debt Management Company
For those who are newly forming a debt management company in the state, they will need the following:
- A $450 nonrefundable application fee;
- $15 for each credit report required;
- An FBI criminal background check for MU2 individuals;
- An Oregon debt management company application ;
- An audited financial statement dated within 90 days of the application submission;
- Information on the location of the trust account, whose location must also be in Oregon;
- Debt management companies must obtain a surety bond for $25,000.
Oregon Debt Management Company Bond: The Purpose
The $25,000 Oregon debt management company bond is required as a condition of licensing as a debt management company in the state.
The purpose of the bond is to act as a financial guarantee that the debt management company, or its employees, will not unlawfully take advantage of any consumers in the performance of their business, credit repair, collection of money, debt services, or any other fiduciary responsibilities.
Oregon Debt Management Company Bond: Premium and Duration
The Oregon debt management company bond renews annually; however, this bond may be purchased for up to a period of 3 years, with a savings for each year prepaid.
- For one year, this surety bond is $375;
- If the bond is prepaid for two years, the premium may be as low as $675;
- If the bond is prepaid for 3 years, the premium may be as low as $975.
While these premium amounts quoted are the best case scenarios, the premium paid by the applicant (i.e. the principal) will be determined by a quick credit score check.
AmeriPro Surety Bonds will always work on your behalf to find you the best premium pricing.
UPDATE JUNE 2019: Our agency now offers this bond as an “instant issue” surety bond with no credit inquiry. This means that after completion of the application, the bond is issued to you immediately. Pricing is as above.
About AmeriPro Suety Bonds:
AmeriPro Surety Bonds offers surety bonds of all types throughout Oregon and the United States.
We know that you have many very good choices when it comes to surety bond purchasing and we are honored that you have chosen to work with us.
And now, we get the opportunity to work for you.