Ohio Credit Service Organization Surety Bond
Credit service organizations that provide credit counseling and credit repair services will need to apply for a license through the Ohio Deparment of Commerce Division of Financial Institutions, Consumer Finance Section and obtain a surety bond.
The bond ensures compliance of state laws and ethical and honest performance of duties.
Surety Bond and License Requirements:
- Complete the credit service organization application. and pay the applicable license fee.
- Obtain a $50,000 surety bond. The surety bond will need to be submitted with the application.
- Provide documentation on the applicants business legal formation.
- Complete the Schedule A, Disclosure Form.
- Complete the Disclosure of Litigation form.
- Complete the Financial Statement form and include copies of bank account statements, securities and broker statement, owned real estate documentation, owned vehicles and notes and mortgage payables.
- Applicants must also complete a criminal history statement and provide fingerprints for a background check
How Much Will This Bond Cost?
The premium for an Ohio Credit Service Organization Surety Bond is based on credit. Our rates start at $500 with good credit. Contact our Surety Bond Specialists for a free quote based on your specific situation.
Related Links:
Ohio Consumer Finance ResourcesMore Surety Bond Questions?
Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.
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