The Kansas Credit Services Organization Bond is required by the State of Kansas Office of the State Bank Commissioner.

According to the Kansas Credit Services Organization Act, K.S.A 50-1116, a Credit Services Organization is a person who engages in the business of debt management services for a fee, compensation, or gain. Debt management services include:

• Receiving funds from a consumer for the purpose of distributing the funds among creditors in full or partial payment of a consumer’s debt
• Improving a consumer’s credit record, history rating, or score
• Negotiating to defer or reduce a consumer’s obligations with respect to credit extended by others

The Kansas Credit Services Organization Bond protects consumers from damages resulting from the organization’s failure to comply with the requirements of the Kansas Credit Services Organization Act, K.S.A. 50-1116.

The required amount for the Kansas Credit Services Organization Bond is $25,000. However, the bond amount may be increased up to $1,000,000 by the Commissioner.

The Kansas Credit Services Organization Bond is continuous in nature; however, the Surety may cancel the bond at any time with 30 days written notice to the Commissioner. The bond must stay in effect for two years after the date of business cessation.

APPLY for your Kansas Credit Services Organization Bond today!

Licensing Requirements

All credit services organizations are required to be licensed by the Commissioner before conducting business in the State of Kansas. According to K.S.A. 50-1118, the application for licensing must include:

• The applicant’s name, business address, telephone number, and website address (if applicable)
• The name and address of each owner, officer, director, member or partner of the applicant
• A description of the ownership interest of any officer, director, member, partner, agent or employee
• A description of the applicant’s consumer education program

Where can I get a Kansas Credit Services Organization Bond?

It does not take long to process a Kansas Credit Services Organization 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 Kansas since 2003.