Nevada Credit Service Organization Bond Overview
- Purpose: To prevent financial loss if a credit repair company breaks rules and regulations
- Who Needs It: All registered credit service organizations in Nevada
- Regulating Body: The Nevada Department of Business and Industry, Division of Mortgage Lending
- Bond Amount: $100,000
- Minimum Price: $1,500, credit-based
What Is a Nevada Credit Service Organization Bond?
A Nevada credit service organization (CSO) bond is a form of financial security required to get a CSO license. The $100,000 bond can provide financial recourse if a credit repair company breaks state laws or industry regulations.
How Much Do Credit Service Organization Bonds Cost in Nevada?
The $100,000 Nevada credit service organization bond premium starts at $1,500. Your exact premium may vary based on personal credit score and other financials. You may also be eligible for a 25% multi-year term discount.
Apply for your free quote today.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Nevada CSO Bond Work?
As with all surety bonds, a CSO bond creates a three-party financial contract.
| Bond Party | Description |
|---|---|
| 1) Principal | The credit service organization owner(s) filing the bond |
| 2) Obligee | The Nevada Division of Mortgage Lending |
| 3) Surety | The issuing surety provider |
As the bond principal, you promise the obligee that you will uphold your responsibilities. If you don’t follow Nevada Revised Statutes 676A.390, anyone harmed by your actions can file a bond claim.
How Do I Get a CSO Bond in Nevada?
Start by submitting the quick quote request form on this page. We’ll provide your free quote in a follow-up email.
After providing any requested follow-up information and signatures, you can purchase your Nevada CSO bond online 24/7.
How Fast Can I Get My Bond?
The Nevada Division of Mortgage Lending requires the original bond copy. We’ll mail you the physical bond form. Shipping costs $20–$40 depending on if you select overnight, two-day or three-day delivery.
Can I Get Bonded With Bad Credit?
Your bond will expire after one year. Rather than purchasing a new bond each year, you can simply renew your existing bond.
We’ll send you reminders before the expiration date. Pay for the renewal invoice and then file the continuation certificate with the Division of Mortgage Lending. This will prove that you still have active bond coverage.
How Do I Renew My CSO Bond?
Don’t have exceptional credit? SuretyBonds.com offers bad credit options to help get 99% of applicants approved for their surety bond. Get started by requesting your free, no-obligation quote today!
How Do I Update My Bond Information?
If you need small updates to your bond, like a name change, contact your surety provider. We can often issue a bond rider document. This allows you to amend the original bond without needing to cancel and buy a new one.
How to Get a Credit Service Organization in Nevada
To become a registered Nevada credit service organization, follow these steps:
- Complete the registration application form
- Attach the original copy of your $100,000 surety bond
- Complete the Business Practice Questionnaire
- Include a $25 check for the application fee, payable to “Division of Mortgage Lending”
Send your completed application packet to this address:
Division of Mortgage Lending
1830 College Parkway, Suite 100
Carson City, NV 89706
