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Thread: Assets

  1. Carboholic
    Carboholic is offline Member
    Join Date
    Oct 2006
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    Assets

    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?
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  2. Riskwriter
    Riskwriter is offline Administrator
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    Jan 2005
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    Quote 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.
    Surety Bonds for all classes of business.
    JW BOND CONSULTANTS, INC.
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