A surety bond required as part of licensing for debt resolution services providers in Tennessee. The bond is intended to protect consumers and the State by providing a source of recovery if the licensee violates the Tennessee Debt Resolution Services Act or related licensing requirements.
Overview
What it is.
A surety bond required as part of licensing for debt resolution services providers in Tennessee. The bond is intended to protect consumers and the State by providing a source of recovery if the licensee violates the Tennessee Debt Resolution Services Act or related licensing requirements.
Who usually needs it
Businesses and individuals offering debt resolution services to Tennessee consumers who must be licensed by the Tennessee Department of Commerce & Insurance (TDCI).
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.
StateTNBond amount$50,000ObligeeTennessee Department of Commerce & Insurance (TDCI)Bond classLicense BondCategoryFinancial ServicesBondTennessee Debt Resolution Services Provider BondPlain descriptionA surety bond required as part of licensing for debt resolution services providers in Tennessee. The bond is intended to protect consumers and the State by providing a source of recovery if the licensee violates the Ten…Who needs this bondBusinesses and individuals offering debt resolution services to Tennessee consumers who must be licensed by the Tennessee Department of Commerce & Insurance (TDCI).
FAQ
Common questions.
Who must file the Tennessee Debt Resolution Services Provider Bond?
Businesses and individuals that provide debt resolution services to Tennessee consumers and must be licensed by the Tennessee Department of Commerce & Insurance (TDCI) are required to file this bond as part of the licensing process under the Tennessee Debt Resolution Services Act.
What is the bond amount for the Tennessee Debt Resolution Services Provider Bond?
Tennessee’s licensing announcement states that the required surety bond is **up to $50,000** for debt resolution services providers (the exact amount may depend on program rules and TDCI direction). Always confirm the required penal sum when applying for the license.
What requirement change created this bond need in Tennessee?
Tennessee announced new licensing requirements and consumer protections under the Tennessee Debt Resolution Services Act. As part of licensure through TDCI, providers must file a surety bond (up to $50,000) along with other items such as required disclosures, forms, and background checks.
