Minnesota Debt Settlement Services Bond
HB 2123: License Bond – Debt Settlement Services
This will subject debt settlement service providers to the existing bond requirements for debt management service providers. Debt management service providers must obtain a surety bond or other security in an amount no less than $5,000. This amount will be determined by The Commissioner of Commerce.
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Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.
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