Illinois legal funding license bonds.
$500 flat.
A consumer legal funding company licensed in Illinois files a $50,000 surety bond with the Department of Financial and Professional Regulation (IDFPR) through NMLS. Ours is $500 flat — the price you see is the checkout price — with underwriting review built into the application.
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How much does an Illinois legal funding license bond cost?
$500 at the $50,000 amount, the same for every applicant.
One application. One review.
This bond runs through carrier underwriting, but the process is still short:
Apply online
Business details, your NMLS number, and a short set of commercial questions the carrier uses to underwrite the risk.
Underwriting review
Our carrier reviews the application. Most applicants with a clean history clear quickly; the bond is not held up by a formal financial statement request.
Pay & upload to NMLS
Your executed bond and power of attorney arrive by email, ready to upload to NMLS as part of your Illinois license filing.
What it is and who needs it.
What the bond actually guarantees
The Illinois Consumer Legal Funding Act (815 ILCS 121) licenses companies that advance money to consumers against the expected proceeds of a legal claim. Section 70 conditions that license on a $50,000 surety bond submitted to and approved by the Secretary of Financial and Professional Regulation, with the Secretary able to require a larger bond based on the volume of funding a licensee makes, purchases, or services.
It's a three-party arrangement: you (the principal, the licensed funding company), the surety carrier, and the Secretary of Financial and Professional Regulation (the obligee), with IDFPR and any consumer harmed by a licensee's violation of the Act as the protected parties.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond must stay active for the life of your Illinois license, and it files directly through NMLS alongside your application and renewal.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the $50,000 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
Pay & upload to NMLS. Your executed bond and power of attorney arrive by email, ready to upload to NMLS as part of your Illinois license filing.
What sets the price
The premium is fixed at $500 at the $50,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
One soft credit pull, never a hard inquiry, and it never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, underwritten fast.
These are the actual issuing fields, including the commercial questions and soft-pull credit consent our carrier uses to underwrite this bond.
Start the application →Common questions.
Other Illinois bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Complete your IDFPR license filing today.
$500 flat once underwriting clears, soft-pull only, typically 1–2 business days. Free until issued.