A debt management bond is required by the State of Arizona as a prerequisite to obtain a debt management license in Arizona.
A debt management license bond is required by the State of Arizona as a prerequisite for a person who, for compensation, engages, in whole or in part, in the business of receiving money as an agent of a debtor for the purpose of distributing the same to creditors in payment of obligations to become licensed.
Any applicant for a debt management license is required by State of Arizona statutes to obtain a bond.
The surety bond amount is based on the amount of money managed by the licensee as an agent for a debtor for the purpose of distributing the same to creditors in payment of obligations.
If the amount is greater than or equal to $100,000 and less than $250,000, a $10,000 surety bond is required.
If the amount is greater than or equal to $250,000 and less than $500,000, a $15,000 surety bond is required.
If the amount is greater than or equal to $500,000 and less than $1,000,000, a $20,000 surety bond is required.
If the amount is greater than or equal to $1,000,000, a $25,000 surety bond is required.
For more information on Arizona’s debt management license requirements, visit the NMLS website.
Colonial offers the direct and digital way to obtain an Arizona debt management license bond. We are the insurance company — which means no agent, no broker, and no middleman. We make it easy to obtain your bond instantly. The steps are simple — get a quote online, fill out your information, and enter your payment method. Print your bond from your home or office. It’s that simple!
An Arizona debt management license bond is reasonably priced and easy to obtain. You may notice that with other insurance agents and middlemen companies, your premium rate will fluctuate and include additional hidden fees and costs. Colonial offers our lowest possible rate. Premium is based on the amount of the bond required by the applicable government agency.
It is important to understand how surety bonds work, and who is the insurance company issuing your bonds. It is easy to obtain an Arizona debt management license bond when you deal direct with a quality insurance company licensed to write surety bonds. Colonial is an A (Excellent) rated insurance company by A.M. Best, that has been incorporated since 1930. We are Treasury listed, and licensed and admitted in all U.S. states and territories.