Missouri Debt Adjusters Bond
What is a Missouri Debt Adjusters Bond?
A Debt Adjuster's Bond is a type of surety bond required in Missouri for those conducting business within in the State of Missouri under the provisions of the Missouri Debt Adjuster Law, as amended. The surety bond ensures the obligor and agents faithfully conform to, and abide by the provisions of the statutes, honestly applying all funds received, and performing all undertakings as required by law. The Debt Adjuster's Bond is written to the Commissioner of Finance of the State of Missouri in the sum of one hundred thousand dollars ($100,000) for the use of the Commissioner for the benefit of any debtor under a debt management plan who has valid reason to file an action against the surety bond for monetary damages sustained as a result of the principals violations of the Missouri Debt Adjuster Law, as amended (Sections 425.010 - 425.040 RSMo.).