Having bad credit is not fun, especially when you are trying to apply for a surety bond. When you need a surety bond, and you have bad credit, you are usually in some kind of dire situation where you need a surety bond as fast as possible. You have to get a bond, and you have to get it now.
This can lead you to buy from the first surety bond company that will give you a high risk surety bond. That only guarantees that you are going to pay the highest price out there.
Don’t make that mistake. You can get a better price. You don’t have to pay exorbitant fees just because you have had a run of bad luck with your credit. Here are a couple of ideas on how to make sure that you get the best price you can for your high risk surety bond.
First, plan ahead. You know your credit has taken some lumps, so don’t wait till the last minute to get a surety bond in place. This gets you out of the trap of having to settle for the first company that will give you the time of day. Planning ahead is never a bad idea, and in this case it will save you money.
Two, be diligent surety bond companies are out there that will handle your bond ethically, you just have to keep looking. What are you willing to settle for? Make sure that answer is high, and you will get your high risk surety bond at a good price.