Debt Management programs in Arizona are required to be licensed. One of the licensing requirements is to obtain a security, such as an Arizona Department of Financial Institutions Surety Bond for Debt Management.
Arizona's Department of Financial Institutions administers the debt management program and oversees licensing, supervision, and regulations. It also investigates consumer complaints, and directs appropriate remedial action when there are violations.
The Department requires a license for those in debt management, describing the business as "any person that for compensation, engages in whole or in part in the business of receiving money as an agent of a debtor for the purpose of distributing the same to creditors in payment of obligations."
License applications are submitted through the NMLS (Nationwide Multistate Licensing System & Registry). Application requirements include:
|Amounts Disbursed||Bond Amount|
|$100,000 - $250,000||$10,000|
|$250,000 - $500,000||$15,000|
|$500,000 - $1,000,000||$20,000|
|More than $1,000,000||$25,000|
The premium you pay for an Arizona Debt Management License Surety Bond is dependent on credit and the bond amount required. Our rates start at $100 with good credit. Contact our Surety Bond Specialists for a free quote that fits your specific situation.
A debt management license covers debt management, credit counseling, and debt negotiation.
Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, call us first. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.
For a downloadable application