Maryland Debt Management Services Licensee Surety Bond
Any person providing or offering to provide debt management services to Maryland consumers. Required when: Filing an application for a new license. Exemptions: The Commissioner may waive the surety bond requirement if the volume of debt management services provided does not warrant the need for a bond.
Overview
What it is.
Any person providing or offering to provide debt management services to Maryland consumers. Required when: Filing an application for a new license. Exemptions: The Commissioner may waive the surety bond requirement if the volume of debt management services provided does not warrant the need for a bond.
Who usually needs it
Any person providing or offering to provide debt management services to Maryland consumers.
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.
StateMDBond amountThe Commissioner determines the amount, which must be between $10,000 and $1,00…Term lengthContinuousObligeeMaryland Commissioner of Financial RegulationRenewalThe bond amount is subject to change each license renewal period based on the volume of payments. The bond must be maintained for 3 years after the licensee ceases to be licensed.Bond classLicense BondCategoryFinancial ServicesBondMaryland Debt Management Services Licensee Surety BondStatutory referenceMd. Code Ann., Fin. Inst. § 12-914JurisdictionState
