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Illinois Credit Services Organization Bond

How much does a credit service surety bond cost in Illinois?

Credit services organizations in Illinois are required by law to maintain a $100,000 surety bond. Your exact surety bond cost will depend on a review of your credit report, your personal financial statement, and your company’s current business financials (if applicable).

Applicants with credit scores of 680 and higher can expect to pay 1-4% of the bond amount.

Don’t worry if you have a low credit score! The experts at SuretyBonds.com can still submit your request through our exclusive bad credit bonding program.

Call 1 (800) 308-4358 or click here to connect with our team of experts!

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Credit Services Organization $100,000 Starts at $500 $5,000-10,000 $10,000+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

If you’re ready to get bonded, call SuretyBonds.com at 1 (800) 308-4358 or fill out our online bond request form. Our experts will provide you with a free surety bond quote in just 24 hours or less!

Why do I need this bond?

This bond is required to ensure credit service professionals manage the services the organization has agreed to perform according to law.

If a client is harmed by these unlawful actions, a claim can be filed by the people of the state or by the Department itself. The surety underwriting company who produced the bond will pay the initial settlement up to the full bond amount, and the credit services organization will be responsible for reimbursing the surety.

If you’re ready to get bonded, submit a surety bond request, and one of our experts will contact you right away to walk you through the bonding process and answer any questions you might have.

What’s the fine print?

Illinois credit services organization bonds are continuous until canceled and must be maintained for a period of two years after the credit services organization ceases business.

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Illinois General Assembly Illinois Credit Service Organization Act

State of Illinois Credit Services Organization $100,000 Surety Bond form

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