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Originally Posted by grasshopper I admit that I have a history of being late on payments which has lowered my credit score. I have heard that this will cause a higher premium on any bonds that I need but I keep getting denied for even getting any contract bonds. I am willing to pay more money, so why won't anyone offer my a bond? |
Unfortunately, we do not offer a high-risk type of program for
contract bonds. An applicant must have a decent credit score and no negative items (example - late pays, open collections, civil judgements, tax liens) in order to qualify for obtaining
contract bonds.
Contract bonds are underwritten differently than commercial bonds are, and there are many factors involved.... You may be able to obtain a
contract bond with less-than-perfect credit, but we are not aware of anyone specifically.