Who requires it
Connecticut Department of Banking — Debt adjusters
License & permit · Connecticut
Connecticut Debt Adjuster Bond
Connecticut debt adjusters must file a surety bond with the Banking Commissioner before a license issues or renews. CGS § 36a-664 sets the principal amount at the greater of $40,000 or twice the average daily balance of payments received from Connecticut debtors during the twelve months ending June 30. Multi-location applicants file one bond. Credit clinics under § 36a-700 are a different legal category and do not use this schedule.
Common bond amount
$40,000+
Greater of $40,000 or twice average daily Connecticut debtor payments for the twelve months ending June 30. The commissioner can change the amount.
How you file
One bond for multiple locations. A cash deposit can cover part of the amount if needed.
Renewal
Keep the bond active. Recalculate when the June 30 formula requires a new amount.
Who requires it
Applicants and licensees for a Connecticut debt adjuster license under §§ 36a-655 to 36a-665. This is not the same credential as a credit clinic operating under the contract rules in § 36a-700, and it is separate from a consumer collection agency license.
How much is required
Section 36a-664 takes the greater of forty thousand dollars or twice the average daily balance of Connecticut debtor payments for the preceding twelve months ending June 30. If the business was acquired from a predecessor debt adjuster, the statute uses the lesser of that predecessor activity measure or one million dollars in the alternate calculation path. The commissioner may raise or lower the amount based on complaint patterns, financial condition, business plan, or actual or estimated Connecticut debtor payments and fees. When a full surety cannot be obtained, the statute allows a maximum obtainable surety of at least $40,000 plus a cash or cash-equivalent deposit for the balance at an approved depository.
How to get and file it
Compute average daily Connecticut debtor receipts for the June 30 measurement year, apply the greater-of formula, and have an authorized surety issue the Attorney General–approved bond (commonly via NMLS for DOB consumer-credit licenses). If you cannot obtain the full amount, follow the statute’s partial-deposit path only with commissioner-approved arrangements. Keep the bond in place for the entire license term. Submit the September 1 average-daily-balance report when that information is not already captured on the system condition report, and update the bond amount in NMLS when the formula requires a change. Cancellation without a timely replacement leads to automatic suspension procedures under the statute.
Cost note
Forty thousand dollars is the minimum required amount—not necessarily the final figure, and not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Minimum amount
- $40,000 minimum
- Volume formula
- Twice average daily CT debtor payments for twelve months ending June 30
- Locations
- One bond covers multiple debt-adjuster license locations
- Not a credit-clinic bond
- § 36a-700 credit clinics have no statutory surety under that section
Official sources
Related resources
Frequently asked questions
Is this the Connecticut credit repair bond?
No. Credit clinics are regulated by CGS § 36a-700 contract and fee rules without a surety in that section. The $40,000-plus schedule in § 36a-664 applies to licensed debt adjusters, which the Department of Banking treats as a separate credential.
What if I cannot get a surety for the full calculated amount?
Section 36a-664 allows a licensee or renewal applicant to file the highest obtainable surety of at least $40,000 and deposit the balance in cash or cash equivalents with an approved Connecticut depository under commissioner conditions.
Related Connecticut bond guides
Consumer Collection Agency Bond
$50,000 per office
Connecticut consumer collection agencies must post a surety bond before the Department of Banking grants or renews the license. CGS § 36a-802 sets $50,000 for the main office and another $50,000 for each branch office. Agencies engaged solely in debt buying are exempt from the bond. Filings are made electronically on NMLS under the Department’s electronic-bond order.
Mortgage Lender Bond
$50,000–$500,000
Connecticut mortgage lenders, mortgage correspondent lenders, and mortgage brokers file one surety bond with the Banking Commissioner covering the main office, branch offices, and sponsored mortgage loan originators. CGS § 36a-492 sets lender and correspondent amounts from $100,000 to $500,000, and broker amounts from $50,000 to $150,000, using aggregate residential mortgage originations for the preceding four quarters ending June 30. Filings run electronically through NMLS.
Money Transmitter Bond
$300,000 / $500,000 / $1,000,000
Connecticut money transmitter applicants and licensees must file a surety bond with the Banking Commissioner under CGS § 36a-602. For firms that do not transmit virtual currency, the statute sets amounts of $300,000, $500,000, or $1,000,000 from average weekly Connecticut money transmissions during the twelve months ending June 30. Transmitters that will or may handle virtual currency receive an amount set by the commissioner to address market volatility. Approved investments may replace part or all of the bond.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Connecticut application
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Last verified 2026-08-11. This guide is based on verified educational content and official sources.
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