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How Much Does a Texas Credit Services Organization Bond Cost?
A Texas credit services organization bond costs between $100 and $1,000. The state requires these organizations to have a $10,000 surety bond. By purchasing the bond through an authorized surety company, you can pay a bond premium rather than the full bond amount.
We are a respected surety company that has been serving the state’s bond needs for over a decade. Depending on the applicant’s qualifications, we provide bond premium rates between 1% and 10%.
Qualifications include credit scores, professional credentials and financial strength. Over 99% of our applicants qualify for a bond through our company.
We provide surety bonds for most credit scores, and those with a 700 or higher credit rating receive a 1% to 3% bond premium rate. With this score, your credit services organization bond will cost between $100 and $300.
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Surety Bond Cost Based on Credit Score |
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Surety Bond Name |
Surety Bond Amount |
Over 700 |
Between 600 - 699 |
Below 599 |
|
Texas Credit Services Organization Bond |
$10,000 |
$100 - $300 |
$300 - $500 |
$500 - $1,000 |
How to Get a Texas Credit Services Organization Bond
1. Apply For Your Bond
Our valued customers benefit from a straightforward, three-step process, and many can get their bond on the same day. To begin, spend a few minutes filling out our short online application.
A new customer, Jim, recently contacted us for a new credit services organization bond. He previously bought a bond through another surety company and found that process to be stressful. He was thrilled by how straightforward our process was and got his bond only a few hours after he applied.
2. Review Your Bond Quote
Each bond application is reviewed promptly, and we provide immediate bond quotes to most of our customers. If an application is complex, additional review is necessary. In this situation, a quote is provided in 48 hours or less.
3. Buy Your Bond
To complete your Texas surety bond purchase, make the bond premium payment using our website’s payment portal. Your bond will quickly be prepared after we receive the payment. We will email your bond to you right away, and we are also happy to mail it upon request.
As your preferred surety company, we want you to have a hassle-free bond experience. If you need assistance with your bond purchase or have questions, please contact us online or by phone at (877) 514-5146 today.
Credit Services Organization Bond Requirements in Texas
Credit services organizations in Texas must comply with Chapter 393 of the Finance Code and Texas Administration Code Chapter 74. These rules govern the registration requirements for credit services organizations. One requirement is proof of security.
Specifically, proof of security is required for credit services businesses that accept compensation before services are rendered. A surety bond or an acceptable security account of $10,000 is required for each business location.
The bond obligee is the Texas Secretary of State. The registration period is one year, and the bond runs continuously until it is canceled. To cancel the bond, the surety company must provide the state with a 60-day written notice.
The bond premium is due annually in order to maintain the bond. Prior to the bond expiration date, we will contact you with renewal instructions.
How to Get Your Credit Services Organization Registration in Texas
The Texas Secretary of State is responsible for credit services organization registrations. The documentation required to obtain a new registration and to renew an existing registration are the same. These items include:
For more information about credit services organization requirements in Texas, contact:
Texas Secretary of State
1019 Brazos Street
Austin, TX 78701
Phone: (512) 463-5555
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What Our Clients Have To Say?
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!
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!
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!
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!
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!
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!
