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Tennessee Credit Services Business Surety Bonds

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The State of Tennessee Department of Commerce & Insurance, Division of Regulatory Boards is responsible for the credit services business industry. This includes protecting the public by insuring that Credit Services Businesses properly conduct business and ensure registration requirements are met. The Tennessee Code Annotated Title 47 Chapter 18 defines the requirements for registration of a credit service business. A credit service business provides services in return for payment to improve a consumer credit report, history or rating, and/or obtain credit extension for the consumer, and can provide advice or assistance to the consumer in regards to credit reports and credit extensions.

Surety Bond and Registration Requirements:

  1. Completie the registration application.
  2. Obtain a $100,000 surety bond to be filed with the registration (instead of a bond, a certificate of deposit, cash or other security can be filed with the Division of Regulatory Boards). The surety bond or security must be maintained for an additional two years if the business ceases to conduct business.
  3. Businesses that were registered with the division of consumer affairs as of May 1, 1998 are required to have a $10,000 surety bond.
  4. Tennessee applicants must include a copy of a current client contract.

How Much Will a Tennessee Credit Services Business Bond Cost?

The premium that you pay for a Tennessee Credit Services Business Surety Bond is dependent on credit. Our rates start at low as 1% of the bond amount with good credit. Contact our Surety Bond Specialists for a free quote that fits your specific situation.

Did You Know?

Credit services business must have a minimum of $100,000 errors and omission coverage.

Related Links:

Tennessee Credit Services Business Requirements
Tennessee Code

More 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.


For a downloadable application