Michigan debt management bonds.
From $375.
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A licensed Michigan debt management business must furnish a surety bond under MCL 451.415, sized to equal or exceed the Michigan clients’ funds in your trust account, never less than $25,000 and never more than $100,000. The premium is 1.5% of the bond amount.
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How much does a Michigan debt management bond cost?
1.5% of the bond amount, from $375 at the $25,000 minimum. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No quote round-trip — enter your amount, pay, and the executed bond goes out the same day. Here is the whole thing:
Apply online
Your business details, the bond amount your license requires, and an effective date — that is the application. No credit check up to $100,000.
Pay & e-sign
The premium is 1.5% of the bond amount — priced at checkout, so the bond issues the moment you pay. Your executed bond and power of attorney generate on the spot.
File with DIFS
Your executed bond arrives by email, ready to file with your Michigan debt management license application or renewal. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
Michigan licenses debt management businesses under the Debt Management Act, 1975 PA 148. At application and each renewal, MCL 451.415 requires the licensee to furnish a surety bond, approved by the director, for the benefit of the people of the state of Michigan.
The amount must equal or exceed the total Michigan clients’ funds in your trust account at the time of application or renewal, as determined by the department — but never less than $25,000 and never more than $100,000. The bond is conditioned on the faithful accounting of all money collected on accounts entrusted to the licensee, its employees, and agents.
It is not insurance for you — if the surety pays a claim, you repay the surety. Debt management licenses expire December 31 each year, so the bond has to stay continuously on file; we track the term and send renewal notices 60 and 30 days out.
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 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
File with DIFS. Your executed bond arrives by email, ready to file with your Michigan debt management license application or renewal. Wet-ink original mailed on request.
What sets the price
The premium is 1.5% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $100,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued instantly.
Submit the application with the bond amount your license requires — the executed bond is generated the moment you pay, ready to file.
Start the application →Common questions.
Other Michigan bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Debt management bond, issued today.
1.5% of the bond amount, with your exact price at the application. Enter your required amount and file the same day.