The Missouri Credit Services Organization Bond is required by the Missouri Director of Finance.
According to the State of Missouri Revised Statutes Title XXVI Chapter 407.637, a credit services organization is a person who provides the following services in exchange for payment:
The bond ensures the compliance of the organization with Sections 407.635 to 407.644 of the Missouri Revised Statutes. The bond protects any person who is damaged by any violation of said Sections by the organization.
As used in sections 407.635 to 407.644, the following words and phrases shall mean:
(1)“Buyer”, an individual who is solicited to purchase or who purchases the services of a credit services organization;
(2)“Consumer reporting agency” has the meaning assigned by section 603(f) of the federal Fair Credit Reporting Act, 15 U.S.C. Section 1681a(f);
(3)“Extension of credit”, the right to defer payment of debt or to incur debt and defer its payment offered or granted primarily for personal family or household purposes.
The Bond must be maintained until two years after the date that the credit services organization ceases business operations.
It does not take long to process a Missouri 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.