WI adjustment service company bonds.
0.5% of the bond amount.
Wisconsin licenses adjustment service companies — firms that prorate a debtor's income to creditors or purchase a debtor's accounts for a service charge — through the Division of Banking at the Department of Financial Institutions under Wis. Stat. § 218.02. Subsection 218.02(2)(c) lets the division require a licensee to file and maintain a bond, in a sum it deems necessary to safeguard borrowers and the public, capped at $5,000. The premium is 0.5% of the bond amount, $100 minimum, and the application collects no credit information.
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Adjustment service company bonds are a small, straightforward filing. Here is the entire process:
Apply online
Business details, the bond amount your license notice states, and an effective date — the application collects no credit information.
Priced and issued
Premium is 0.5% of the bond amount with a $100 minimum — because the statutory cap is $5,000, most applicants land at the $100 floor. Your executed bond and power of attorney generate once payment clears.
File with the Division of Banking
Your executed bond arrives by email, ready to file with your adjustment service company license at the Department of Financial Institutions. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
An adjustment service company is defined in Wis. Stat. § 218.02(1)(a) as a corporation, LLC, association, partnership, or individual that, as principal, prorates a debtor's income among the debtor's creditors, or assumes a debtor's obligations by purchasing the debtor's accounts, in return for a service charge or other consideration — the debt-management and debt-purchasing business Wisconsin treats separately from ordinary collection agencies.
The Division of Banking licenses these companies, and 218.02(2)(c) lets the division require a licensee, before or after the license issues, to file and maintain a bond in a sum it deems necessary to safeguard the interest of borrowers and the public — not to exceed $5,000. It is a three-party arrangement: you (the principal), the surety carrier, and the State of Wisconsin (the obligee), standing behind your handling of debtor funds and your compliance with the license.
It is not insurance for you — if the surety pays a claim, you repay the surety. A separate license fee applies: 218.02(2)(b) sets a $200 nonrefundable investigation fee plus a $200 annual license fee for a new applicant, with no investigation fee on renewal. Because the sum is set by the division rather than fixed in the statute, confirm your required bond amount on your DFI license notice before you apply.
You need this bond if you're
One application, quickly priced.
These are the actual issuing fields — business details, your bond amount, and an effective date. No credit fields appear anywhere in this application.
Start the application →Common questions.
Other Wisconsin bonds.
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0.5% of the bond amount, $100 minimum. No credit fields in the application. Free until issued.