Delaware Credit Services Organization Bond

The Delaware Credit Services Organization Bond is required by the Delaware Secretary of State.  According to Delaware Code Title 6, Subtitle II, Chapter 24, a Credit Services Organization is a person who provides any of the following services in exchange for payment:

• Improving a buyer’s credit record, history, or rating
• Obtaining an extension of credit for a buyer
• Providing advice or assistance to a buyer with regard to the above items

The Delaware Credit Services Organization Bond allows an Organization to receive payment for services prior to their full completion. According to Delaware Code Title 6, Subtitle II, Chapter 24, the bond is in the favor of the State of Delaware for the benefit of any person damaged by violation of the Code.

The required amount for the Delaware Credit Services Organization Bond is $15,000.

APPLY for your Delaware Credit Services Organization Bond today!

Registration Requirements

In addition to the Delaware Credit Services Organization Bond, a Credit Services Organization must file a registration statement with the Secretary of State before beginning business. According to Delaware Code Title 6, Subtitle II, Chapter 24, the registration statement must include:

• The name and address of the credit services organization
• The name and address of any person who directly or indirectly owns or controls 10% or more of the outstanding shares of stock

Furthermore, the registration statement must also contain either:

• A full and complete disclosure of any litigation or unresolved complaint filed with a governmental authority
• A notarized statement that there has been no litigation or unresolved complaint
• The name and address of the credit services organization’s agent in the State authorized to receive service of process.

The bond should be maintained 2 years after the date that the credit services organization ceases operation.

Where can I get a Delaware Credit Services Organization Bond?

It does not take long to process a this type of bond.  We offer an 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. You 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 is licensed in all 50 states and is rated A+ by the Better Business Bureau. Surety1 has been writing surety bonds in Delaware since 2003.

Visit our State  Guide of Bond Requirements for Credit Services / Credit Repair Businesses