Any person or entity engaged as a principal in the business of prorating the income of a debtor to the debtor's creditors, or assuming the obligations of a debtor by purchasing their accounts for a service charge (Adjustment Service Companies). Required when: Required as a condition of obtaining and maintaining a lice…
Overview
What it is.
Any person or entity engaged as a principal in the business of prorating the income of a debtor to the debtor's creditors, or assuming the obligations of a debtor by purchasing their accounts for a service charge (Adjustment Service Companies). Required when: Required as a condition of obtaining and maintaining a lice…
Who usually needs it
Any person or entity engaged as a principal in the business of prorating the income of a debtor to the debtor's creditors, or assuming the obligations of a debtor by purchasing their accounts for a service charge (Adjustment Service Companies).
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateWIBond amount$5,000Term lengthContinuousObligeeWisconsin Department of Financial Institutions, Division of BankingRenewalThe bond remains in force continuously until cancelled by the surety. The associated license must be renewed annually, typically through the Nationwide Multistate Licensing System (NMLS), which requires maintaining the …Bond classLicense BondCategoryFinancial ServicesBondAdjustment Service Company BondStatutory referenceWis. Stat. § 218.02JurisdictionState
