MN debt management services bonds.
1.5% of the bond amount.
Minnesota registers debt management services providers through the Department of Commerce, and Minn. Stat. § 332A.04, subd. 4 conditions registration on a surety bond in a sum determined by the commissioner, but not less than $5,000. Ours is 1.5% of the bond amount, $100 minimum, the bond issues the moment you pay, and any credit screen is a soft credit pull only — it never affects your score.
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Three steps. One sitting.
The debt management bond is checkout-rated — enter the amount Commerce set, pay, and file it with your registration. Here is the whole process:
Apply online
Business details, the bond amount Commerce required, an effective date, and a term. That is the entire application — any credit screen is a soft pull that never shows as a hard inquiry.
Pay & e-sign
The premium is 1.5% of the bond amount, $100 minimum — checkout-priced, so the bond issues the moment you pay. Your executed bond and power of attorney generate on the spot.
File with the Department of Commerce
Your executed bond arrives by email, ready to file with your debt management services registration or renewal. Wet-ink original mailed on request.
What it is and who needs it.
What the debt management bond guarantees
Minnesota regulates debt management services providers at Minn. Stat. ch. 332A — businesses that, for a fee, handle a debtor's money to distribute it among creditors. Registration runs through the Department of Commerce, and § 332A.04, subd. 4 requires a surety bond in a sum determined by the commissioner but not less than $5,000.
In setting the amount, the commissioner weighs the financial responsibility, experience, character, and general fitness of the provider and its operators and owners; the volume of business handled or proposed to be handled; the location of the office and the geographic area served; and other information the commissioner deems pertinent. Cash or securities of comparable market value may be deposited in lieu of the bond.
The bond runs to the State of Minnesota, for the use of the state and of any person who has a cause of action against the provider arising out of its activities as a debt management services provider to a debtor domiciled in Minnesota. It is not insurance for you — if the surety pays a claim, you repay the surety.
You need this bond if you're
One application, issued instantly.
These are the actual issuing fields — business details, the bond amount Commerce set, an effective date, and a term. That is the entire application.
Start the application →Common questions.
Other Minnesota bonds.
Debt management bond, filed today.
1.5% of the bond amount, $100 minimum, issued the moment you pay. Soft pull only. Free until issued.