According to Illinois Compiled Statutes, 815 ILCS 605/3, a Credit Services Organization is a person who provides the following services in exchange for payment:
The Illinois Credit Services Organization Surety Bond allows an Organization to receive payment from consumers prior to full completion of service. Furthermore, bond ensure the Organization’s compliance with the provisions of the Credit Services Organization Act and is in favor of any person damaged by any violation of said Act.
The bond must be maintained for 2 years after the date that the credit services organization ceases business operations.
According to the Illinois Credit Services Organization Act, a credit services organization must file a registration statement with the Secretary of State in order to conduct business in the State of Illinois. The registration statement must contain:
The registration statement must also contain either:
It does not take long to process a Illinois Credit Services Organization Surety 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.
Surety Solutions Insurance Services, Inc. (Surety1) is licensed in all 50 states and is rated A+ by the Better Business Bureau. Surety1 has been writing surety bonds in Illinois since 2003.