DP&L requires a security deposit or guarantor to ensure that unpaid bills do not become a burden for all customers.
What is a guarantor?
A guarantor agreement is similar to “co-signing” on a loan agreement. When you apply to be a guarantor on a DP&L account, you agree to assume up to 60 days of past due bills if the guaranteed account holder defaults on the account. The guarantor will receive all disconnection notices and transfer service requests, if applicable, for the guaranteed account.
- Must be an active DP&L customer with excellent payment history.
- Must own your own home (renters do not qualify).
- If the guarantor is part of a joint DP&L account, both parties need to sign the Guarantor Agreement or Guarantor Release Form.
How to apply?
To apply to be a guarantor, please print and fill out the DP&L Guarantor Agreement and return it to DP&L:
Please allow 1 business day for the application to be reviewed and your pending order to be processed. You will receive a confirmation letter in the mail.
How does a guarantor agreement end?
A guarantor agreement may end if the guaranteed account holder satisfies the requirements for the release of a guarantor. DP&L will notify the guarantor in writing when this takes place.
A guarantor may terminate an agreement prior to the satisfaction of the release requirements by submitting a Guarantor Release Request. The guaranteed account holder may be required to reestablish credit worthiness when the guarantor agreement ends, which may require payment of a security deposit. Please note that DP&L requires a 30 day advance written notice to release a guarantor. If there is collection activity on a guaranteed account within this time period, up to 60 days of DP&L past due charges may be transferred to the guarantor’s account for payment before the guarantor is released.
To terminate a guarantor agreement, please print and fill out the?Guarantor Release Request, and return it to DP&L at the contacts listed above.