According to Chapter 393 of the Texas Finance Code, a Credit Services Organization is a person who provides, or represents that a person can or will provide, the following services in exchange for payment:
Before conducting business in the State of Texas, each Credit Services Organization must register with the Texas Secretary of State. The registration statement must include:
In order to receive payment from a consumer before full completion of services, registered Credit Services Organizations must obtain a Surety Bond. The Texas Credit Services Organization Surety Bond ensures that the Organization will faithfully comply with Texas Finance Code, Chapter 393. Furthermore, the bond provides compensation to any person damaged by violation of the Finance Code. The Texas Credit Services Organization Surety Bond must be maintained two years after the cessation of business.
The Texas Credit Services Organization Surety Bond is continuous in nature; however, the Surety my cancel the bond at any time with 60-day written notice to the Secretary of State.
CLICK HERE for more information from the Texas Secretary of State.
It does not take long to process a Texas 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 Texas since 2003.