Surety Solutions
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Crystal Ignatowski By Crystal Ignatowski • January 12, 2017

Can I Be Bonded After a Bankruptcy?

surety bond bankruptcy

 

Can I be bonded after a bankruptcy? The short answer is yes, yes you can.

 

Getting Bonded After Bankruptcy

Getting approved for a surety bond after a bankruptcy depends on two main factors:

  • Factor #1: The type of surety bond you are applying for and
  • Factor #2: How long ago the bankruptcy was discharged

 

If you have an open bankruptcy, this does not mean you will be automatically declined for a surety bond, it just means you might need to pay more. With an open bankruptcy, you might need to provide collateral (property, assets, etc) in addition to paying for your bond.

 

Surety Bonds and Bankruptcy

A bankruptcy will affect your chances of getting any type of surety bond, but some bonds are affected more.

 
Types of bonds that are more affected by bankruptcy:
  • Bid Bonds
  • Performance Bonds
  • Payment Bonds
  • Fidelity Bonds*

 

*Some jobs might require people with bankruptcies to get a Fidelity Bond before they are hired. There is a market for Fidelity Bonds for high-risk applicants. It is possible to get bonded. Be honest with the surety company when applying for your bond and they might be able to work with you.

The US Department of Labor has a program for high-risk applicants who need to get a Fidelity Bond for employment. Get your bond today.

 
Types of bonds that are less affected by bankruptcy:
  • Motor Vehicle Dealer Bonds
  • Contractor License Bonds
  • Private Investigator Bonds
  • Other licensing bonds

 

Need a Bond? Have a Bankruptcy?

Surety Solutions can work with you. Getting started is as easy as selecting your state, entering in some personal information, and getting a quote.

We’ve bonded people who never thought they would get approved for a bond.

 

Get A Free Surety Bond Quote

 

Concerned about applying for a bond? Give us a call at 866.722.9239.

 

Related Links:

How To Get a Surety Bond With Bad Credit

The Important Connection Between Your Credit Score and Surety Bond