Lance Surety Bond Associates, Inc.

Toll-free: (877) 514-5146

Auto Dealer Bonds Collection Agency Bonds Contractor License Bonds Freight Broker Bonds Medicare Bonds (DMEPOS) Mortgage Broker Bonds Mortgage Lender Bonds Sales Tax Bonds Telemarketing Bonds Wage and Welfare Bonds More Commercial Bonds

Bid Bonds Construction Bonds Maintenance Bonds Payment Bonds Performance Bonds Site Improvement Bonds Subdivision Bonds Supply Bonds

Appeal Bonds Guardianship Bonds Probate Bonds

What is a surety bond? Surety Bonds vs Insurance Frequently Asked Questions Surety Bond Blog Commercial Surety Overview FREE Guide to Commercial Surety Bonds FREE Guide to Contract Surety Bonds

Bond Amount:

Required By:

Email:

Name:

Phone:

Bad Credit Surety Bonds

Also referred to as "High Risk Surety Bonds", Bad Credit Surety Bonds are programs where bonding companies agree to write commercial surety bonds for customers (or principals) with a higher level of risk by increasing the customer's premium rates. Typically premium rates for customers with bad credit can range from 3-20% the total amount of the bond. Rates will vary depending on the applicant and bond type. Bad Credit Surety Bonds are bond programs, not a specific type of bond, and the programs are currently only offered for "commercial bonds".

Current Market: High Risk Surety Bond Programs have been around for more than 5 years now, and it does not appear that they are going anywhere in the foreseeable future. More and more companies are willing to write surety bonds for principals with bad credits, and those that carry some sort of risk of having a claim arise. While increased premiums (and often times collateral) are part of what makes bonding companies willing to do this, the increasing number of bonding companies writing high risk has created competition. Competition is obviously a good thing for the customers, in this case the principals with bad credit, because it will eventually drive premium rates down, making Bad Credit Surety Bonds more affordable.

With the new Bad Credit Surety Bond Programs (or High Risk Bond Programs), just about anyone who applies will qualify. This includes, but is not limited to, applicants who have low credit scores or no credit history, have experienced bankruptcy, civil judgments against them, have a lack of experience in their particular field, etc.