Indiana Credit Service Organization Bond Overview
- Purpose: To ensure that credit repair organizations uphold state law
- Who Needs It: All credit service organizations and foreclosure consultants in Indiana
- Regulating Body: The Indiana Office of the Indiana Attorney General — Consumer Protection Division
- Bond Amount: $25,000
- Premium Price: $375 for a one-year term
What Is an Indiana Credit Service Organization Bond?
An Indiana credit service organization (CSO) bond protects consumers from harmful or fraudulent credit repair practices.
The Indiana Office of the Indiana Attorney General requires you to file a $25,000 surety bond before operating. This provides financial security if you violate state law or fail to fulfill your obligations.
How Much Do CSO Bonds Cost in Indiana?
The $25,000 Indiana CSO bond costs $375 for a one-year term or $938 for a three-year term. No application or credit check is required!
Click below to buy your bond instantly.
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How Does an Indiana Credit Service Organization Bond Work?
An Indiana credit service organization bond is a legal contract between these three parties.
| Bond Party | Description |
|---|---|
| Principal | The CSO owner or foreclosure consultant filing the bond |
| Obligee | The Indiana Office of the Indiana Attorney General requiring the bond |
| Surety | The issuing surety provider |
This bond allows the state and clients to recover financial losses if you violate the law. If any claims are filed against your bond, the surety will cover the initial payment. However, you’ll need to repay the surety in full.
How Do I Get a Credit Service Organization Bond in Indiana?
You can purchase your Indiana credit service organization bond online in just minutes. Simply fill out the quick form on this page. At checkout, you can select overnight, two-day or three-day shipping.
Once you receive your bond form, sign and file it with the Attorney General.
Can I Get Bonded With Bad Credit?
Yes, this bond doesn’t require a credit check! Everyone qualifies instantly for the same premium.
How Do I Renew My Credit Repair Services Bond?
Indiana credit repair services bonds expire annually. We’ll send you text and email reminders starting 90 days before the expiration date. To renew, simply pay the attached invoice.
Can I Make Changes to My Bond?
If your name or address changes, you can update your bond form by contacting your surety company. Current customers can email [email protected] with the new information.
How to Start a Credit Service Organization in Indiana
In Indiana, credit service organizations only need to file a $25,000 surety bond to operate. There’s no separate license or registration.
You can submit your bond form online on the Attorney General’s website. Once you receive confirmation that the form is valid, you can begin offering credit repair services.
How Do I Register My Business in Indiana?
Although there’s no CSO license requirement, you’ll still need to register your business with the state. Follow these steps to complete the process:
- Choose your business structure, such as LLC or sole proprietorship.
- Submit your company’s name and ownership information on the Secretary of State’s website.
- Complete the online Business Tax Application with the Indiana Department of Revenue.
- Contact your county assessor’s office for local filing requirements.
