The Nevada Credit Services Bond, also known as the Uniform Debt-Management Services Bond is required by the State of Nevada, Department of Business & Industry, Financial Institutions Division for those who will register as a Nevada Uniform Debt-Management Services Provider. Debt Management Services is defined in the NRS 676A.140 as services as an intermediary between an individual and one or more creditors of the individual for the purpose of obtaining concessions and includes credit counseling, the development, and implementation of debt-management plans and debt settlement services. Commonly referred to as credit repair services. The required bond amount is $50,000 and the bond provider must be licensed in the state of Nevada.
License Requirements for Nevada Credit Services Bond
In addition to obtaining a Uniform Debt-Management Services Bond, you also be required to prepare the following documents for the initial registration.
Initial Application Fee of $2,000 and Initial Registration Fee of $1,000.
For each Director, Officer, person with at least 10% ownership, every member of a firm or partnership, or any person authorized to initiate transactions to the trust account;
Complete set (3) of fingerprints (FB-258)
Evidence of Insurance, $250,000, maximum deductible of $5,000.00, and evidence of Insurer’s rating;
Nevada State Business License;
Certificate of Accreditation from an approved provider;
Certificates of Certification for all Credit Counselors and Debt Specialists from an approved provider;
List of Credit Counselors and Debt Specialist with dates of hire;
Disclosure of all Affiliates of the Applicant, as defined by NRS 676A;
Copies of all Registration and License Verification Forms;
A copy of appropriate municipal (city/county) business license; Financial Statements, copies of the Applicant’s for the prior two years, audited by an accountant licensed to conduct audits and the auditor’s contact information
If Applicant will not provide debt-management services from an office in Nevada, provide a statement to that effect;
Description of the three most commonly used educational programs that the Applicant provides, or intends to provide, to consumers in Nevada and a copy of any materials used in those program;
Description, including form(s) or electronic model(s), of the Applicant’s financial analysis and initial plan used to evaluate the financial condition of consumers;
All agreements to be used with Nevada consumers;
Schedule of all fees and charges to be used with Nevada consumers.
What is the process to obtain a Nevada Credit Services Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). 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). Surety1 has been providing surety bonds for the credit repair industry since 2003.
The surety bond experts at Surety1, an AssuredPartners agency 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.
How to Get Your Nevada Credit Services Bond
1. Complete an online application. It's free and no-obligation.2. One of our surety experts will contact you with a firm quote and an agreement to sign.3. Provide payment and your signed agreement, and then you will receive your Nevada Credit Services Bond!If you have any questions, please call us at 877-654-2327.
HOW TO GET BONDED
1. Apply OnlineUsing our Free & Secure Application2. Get Your Free QuoteApplications are No-Obligation3. Get Your BondMost Bonds are Approved in 1-2 Business Days