Bankruptcy Trustee Bond Definition
A bankruptcy trustee bond can be required of (as the name suggests) bankruptcy trustees by bankruptcy courts across the U.S. These bonds ensure that the trustee will uphold all of their responsibilities as ordered by the court, which is to the benefit of the trustee beneficiaries (usually creditors). If you would like to learn more about what surety bonds are and how they work, you can read our detailed guide here.
Bankruptcy Trustee Bond Types
Chapter 7 Trustee Bonds
This bond type is usually issued on a blanket basis, but can also be issued individually in certain situations.
Chapter 11 Trustee Bonds
This bond type is issued on an individual basis.
Chapter 12 and 13 Trustee Bonds
This type can be issued on an individual basis or a blanket basis. Blanket trustee bonds guarantee the performance of all panel trustees in a given district.
What Will Your Bond Cost?
Bond costs vary by applicant, bond amount and bond type. If you're ready for a firm quote, please fill out our court bond application
Frequently Asked Questions
The cost is a small percentage of the required bond amount. Keep in mind that pricing varies based on the bond amount, and your financial strength.
Apply and get approved on our website, sign the surety agreements, and we will ship the bond out.
Yes. We provide the lowest rates possible as a result of the large volume of bonds we write.
You must contact us immediately, as we have a team of claim specialists here to find a resolution for you. Keep in mind, it is crucial that you work with an expert in the surety industry. Learn more about how to ensure you choose the proper bond company.