Massachusetts Credit Services Organization Bond

Complete Guide to Bonding for CSOs in Massachusetts

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1. Start Your Application

Fill out the online application form

2. Receive Your Free Quote

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3. Buy Your Surety Bond

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How Much Does a Massachusetts Credit Services Organization Bond Cost?

The cost of a Massachusetts credit services organization bond is between $100 and $1,000. The bond amount required is $10,000. Instead of paying the full bond amount, however, you can purchase your bond from an authorized surety company. 

As an authorized surety company serving Massachusetts, we sell bonds to meet all needs. Our bond premium rates are between 1% and 10%. We have a 10-year track record of providing excellent service to our valued customers, and we bond over 99% of our applicants. 

When you apply for your new surety bond with us, we will determine your bond premium after reviewing several factors. These include your financial strength, your credit scores and your business credentials.

Applicants with all credit scores are considered. With a credit score of 700 or higher, you will qualify for the most competitive rate of 1% to 3% of the bond amount. If you apply for a credit services organization bond with this credit score, your cost is between $100 and $300.

Surety Bond Cost Based on Credit Score

Surety Bond Name

Surety Bond Amount

Over 700

Between 600 - 699

Below 599

Massachusetts Credit Services Organization Bond

$10,000

$100 - $300

$300 - $500

$500 - $1,000

* This table provides a ballpark estimate of potential bond costs. Bond pricing can fluctuate over time due to a number of factors. For exact pricing, please complete an application.

How to Get a Massachusetts Credit Services Organization Bond

1. Apply For Your Bond

Setting up the credit services organization bond that you need in Massachusetts is a breeze through our three-step process. To get started, fill out the online application. Often, our customers can walk through this easy step in a few minutes.

Beth recently applied for a credit services organization bond with us. Despite having a credit score below 620, it only took her a few minutes to get a quote after she applied online. She quickly paid the bond premium through our payment portal and received her bond via email right away.

2. Get Your Bond Quote 

All surety bond applications are reviewed immediately. In most cases, applicants receive a quote from us within minutes. However, a deeper review is needed for complex applications. In these situations, we provide customers with a quote in 48 hours or less. 

3. Buy Your Bond 

Once you have received your bond quote, the final step in our streamlined process is to make your purchase. Use our online portal to conveniently make your payment. You will then receive your bond in your email inbox, and we can mail your bond to you if requested.

Our bond specialists are standing by to answer your questions and assist with your application. To reach our friendly team, contact us online or by phone at (877) 514-5146 today.

Credit Services Organization Bond Requirements in Massachusetts

According to the state’s General Laws Part 1, Title XV, Chapter 93, Section 68B, credit services organizations must hold a $10,000 surety bond. The company must also have a trust account at an FDIC-insured financial institution. 

This applies to businesses that sell or attempt to sell credit services as well as its employers and independent contractors. Under Section 68C, credit services organizations cannot provide services to customers without providing them with a written statement describing the bond terms, the bond company and their right to file a claim.

The bond obligee is the Commonwealth of Massachusetts. This bond must be maintained at all times in order for the credit services organization to legally conduct business. To maintain the bond, the business must make the bond premium payment annually. 

We support our customers with bond maintenance. When your bond renewal date approaches, we will contact you with updated payment instructions. 

How to Get Your Credit Services Organization License in Massachusetts

The Commonwealth of Massachusetts mandates the bond requirement for credit services organizations. However, the state does not require these businesses to be registered or licensed. To learn more about the state requirements for credit services organizations, contact:

Commonwealth of Massachusetts
Office of Consumer Affairs and Business Regulation
501 Boylston St #5100, Boston, MA 02116
Phone: (617) 973-8787


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About Us

Lance Surety Bonds
Lance Surety Bond Associates, Inc. is a Pennsylvania-based surety bond agency that offers bonding at competitive rates in all 50 states. Established in 2010, our company has grown to become one of the top online bond producers in the country. Working exclusively with A-rated and T-listed bonding companies gives us the confidence to offer a 100% money-back guarantee. read more

What Our Clients Have To Say?

Kimberlee Ables

Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!

Andrew Poincot

Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!

Margie Martinez

We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!

Kimberlee Ables

Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!

Andrew Poincot

Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!

Margie Martinez

We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!

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