Assets

[Carboholic]

I need to obtain a Guardianship bond for around $650K... do I need to have at least that amount in personal assets in order to qualify?

[Riskwriter]

Originally Posted by Carboholic

I need to obtain a Guardianship bond for around $650K... do I need to have at least that amount in personal assets in order to qualify?

That is a very good question, however there is not an actual formula used when considering an applicant for a bond. So the direct answer is no.

However, a bonding company will want to see that the applicant is of strong personal and financial character. Home ownership is a plus as well as some liquidity from the applicant. Personal credit will definitely be checked on and the applicant must have a strong credit history of always paying their debts on time.

All in all, it is a judgment call.