Debt management surety bond cost
Oregon debt management bonds are required by the Oregon Department of Consumer and Business Services and must be in the amount of $25,000. These bonds are subject to underwriting, which means the amount a client will pay is directly related to a review of his or her personal credit report.
Since the cost of this bond varies so much, it’s best to contact one of our surety experts to receive a free, personalized bond quote within one business day of applying.
Why this bond
Oregon debt management surety bonds protect consumers against fraudulent acts performed by the principal (debt management company). Prohibited practices according to the Oregon Revised Statutes include:
- making any untrue or misleading statements about relieving debt
- offering services without doing a full budget analysis
- accepting any contract with blank spaces
- commingling funds from multiple clients
- and more
These laws and more can be found in the ORS Chapter 697.662 – Prohibited Acts.
Debt management bond details
Oregon debt management bonds are continuous until canceled. If for any reason the surety decides to cancel this bond, it must provide 30 days written notice to the Department of Consumer and Business Services.
To become a legal working debt management company, the company must also be registered with the state.
Apply for your surety bond
Get a FREE Oregon Debt Management Bond Quote Today! Click here to begin