The California Credit Services Organization Surety Bond is required by the California Secretary of State for the registration of any Credit Service Organization in the state. Surety1 can provide you a no-obligation quote for this bond, simply submit a free online application!
Credit Services Organizations (also known as credit repair services) do not provide credit. CSOs offer to obtain loans or extensions of credit for consumers who have experienced credit problems and attempt to correct or improve a consumers’ credit records. In California, registered CSOs can sell, provide, or perform (or promise) any of the following services:
Legal information and requirements can be found in the California Civil Code.
In order to register as a CSO, the following must be filed with the California Department of Justice:
In addition, the following must be filed with the Secretary of State:
To maintain registration, the CSO must comply with the provisions of Title 1.6E (commencing with Section 1789.10), Part 4 of Division 3 of the Civil Code of the State of California. This includes the following:
Please note any certificate of registration will expire on the last day of the year, so it is important to renew your registration annually!
According to Section 1789.19 of the California Civil Code, the requirements of this bond are as follows:
The experts at Surety1 have made it easy for you. To obtain a California Credit Services Organization Surety Bond, all you need to do is take a few minutes to fill out our free online application! Within one business day one of our licensed agents will contact you with a no-obligation quote for the price to obtain your bond (the “premium”). Please note the premium will only be small percentage of the $100,000 bond amount. Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
What happens at renewal?
First, please note the bond renewal will be separate from the registration renewal. You will renew your registration with the CA Dept. of Justice every year, and you will renew your bond with the Secretary of State every other year.
To renew your bond with the Secretary of State: approximately 2 months prior to your bond’s expiration date, we will send you an invoice for the renewal premium (which is generally the same as your original premium, depending on credit). Once we process your payment, we will send you a Continuation Certificate or Renewal Bond that you will then submit to the Secretary of State to complete your bond renewal.
The surety bonding experts at Surety Solutions Insurance Services, Inc. (Surety1) are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau!