The Arkansas Credit Repair Services Organization Bond is required by the State of Arkansas under the Arkansas Credit Services Organization Act of 1987.
According to the Arkansas Credit Services Organization Act 1987, Title 4-91-102, a Credit Services Organization is any person or entity that sells, provides, or performs any of the following services in exchange for payment:
- Improve a buyer’s credit record, history, or rating
- Obtain an extension of credit for a buyer
- Provide advice or assistance to a buyer with regard to either of the above items
Any entity or person that performs these services must be be licensed and bonded. The bond will be required to obtain the license.
The Arkansas Credit Repair Services Organization Bond allows a Credit Service Organization to charge compensation for services prior to full and complete performance. Furthermore, the bond protects any person damaged by violation of the Arkansas Credit Services Organization Act of 1987. The required bond amount is $10,000. The annual premium will be a very small percentage of this amount, usually no more than 1.5% of the bond amount, subject to underwriter approval.
Where can I get an Arkansas Credit Repair Services Organization Bond?
to obtain the bond, simply complete our easy to use online application that can be completed in a matter of minutes. After applying, within one business day you will be contacted by one of our licensed agents with a firm quote. Then, just need to complete some paperwork, make payment and your surety bond will be mailed to you via USPS priority mail. Overnight delivery is also available.
Surety1, an AssuredPartners agency is licensed in all 50 states and has been a premier provider of surety bonds nationwide since 2003. Surety1 maintains an A+ rating by the Better Business Bureau and has been providing Arkansas surety bonds since 2003.
APPLY for your Arkansas Credit Repair Bond today
Visit our State Guide of Bond Requirements for Credit Services / Credit Repair Businesses