Minnesota debt management services bonds.
From $100.
Looking for the Minnesota credit services organization bond?
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.
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How much does a Minnesota debt management services bond cost?
1.5% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
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 application. No credit check up to $100,000.
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
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 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 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.
These are the actual issuing fields — business details, the bond amount Commerce set, an effective date, and a term. That is the application.
Start the application →Common questions.
Other Minnesota bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Debt management bond, filed today.
1.5% of the bond amount, $100 minimum, issued the moment you pay. No credit check up to $100,000. Free until issued.