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.

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