Any person engaging in the business of debt adjustment (debt management services) in Connecticut. Required when: Required as a condition of obtaining or renewing a Debt Management Services license. Exemptions: Attorneys admitted to practice in Connecticut (if debt adjustment is ancillary to legal representation), bank…
Overview
What it is.
Any person engaging in the business of debt adjustment (debt management services) in Connecticut. Required when: Required as a condition of obtaining or renewing a Debt Management Services license. Exemptions: Attorneys admitted to practice in Connecticut (if debt adjustment is ancillary to legal representation), bank…
Who usually needs it
Any person engaging in the business of debt adjustment (debt management services) in Connecticut.
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.
StateCTBond amountThe principal amount of the bond shall be the greater of (A) $40,000, or (B) tw…Term lengthContinuousObligeeConnecticut Department of BankingRenewalLicensees must submit a report by September 1st each year detailing the average daily balance of payments received to determine the required bond amount for the following year; the bond must be maintained for the licens…Bond classLicense BondCategoryFinancial ServicesBondDebt Management Services BondStatutory referenceConn. Gen. Stat. § 36a-664JurisdictionState
