What are the requirements for registration as a California Credit Services Organization?
In order to register as a CSO, the following must be filed with the California Department of Justice:
- A registration application
- A $100 application filing fee
In addition, the following must be filed with the Secretary of State:
- A $100,000 California Credit Services Organization Bond
What is a Credit Services Organization?
The Credit Services Organizations (also known as credit repair services) do not provide credit. CSOs offer to obtain loans or extensions of credit for consumers who have experienced credit problems and attempt to correct or improve a consumers’ credit records. In California, registered CSOs can sell, provide, or perform (or promise) any of the following services:
- To improve a buyer’s credit record, history, or rating.
- To obtain a loan or other extension of credit for a buyer.
- To provide advice or assistance to a buyer with regard to either of the above.
Legal information and requirements can be found in the California Civil Code.
How do I obtain a California Credit Services Organization 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).
The surety bond experts at Surety Solutions Insurance Services, Inc. (Surety1) 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.