How Much Does a Credit Service Organization Bond Cost in Indiana?
The Indiana Office of the Attorney General requires credit service organizations (CSOs) to file surety bonds before becoming licensed in the state. You can purchase your $25,000 Indiana CSO bond for a flat rate of $375 with no credit check.
Click BUY NOW to purchase online 24/7. You’ll need to sign and file your original bond form with the state. Select overnight shipping if you’re in a rush.
How Does a CSO Bond Work?
A credit services organization bond creates a contract between three parties:
- The principal purchases the bond and pledges to comply with the terms.
- The obligee requires the surety bond to protect consumers from financial loss.
- The surety issues the bond and financially backs the principal’s quality of work.
Why Do I Need a CSO Surety Bond?
By posting an Indiana credit service organization bond, the CSO agrees to follow all state laws. Prohibited acts according to this code include:
- Receiving payment before completing services
- Charging for services that will put the customer into more debt
- Guaranteeing to complete impossible services, such as ‘making bad credit disappear’
If any of these acts occur and a valid claim is made against the bond, the surety will cover all damages up to the full bond amount. The principal is then required to compensate the surety in full.
Have questions? Call 1 (800) 308-4358 to speak with a surety expert.
How Do I Get a CSO Bond in Indiana?
Use our quick and easy online form to get your Indiana CSO bond today. You’ll need to answer the following questions on the bond form:
- Does your company have any pending litigation filed by any state or federal entity concerning Foreclosure Consultant/Credit Service Organization in any other jurisdiction?
- Does your company go by any other names? If yes, what other names?
These bonds are continuous until canceled. The state requires surety companies to provide at least 30-days’ notice before canceling a bond.
