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Indiana Credit Services Organization Bond

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  • Pay less for your bond with us
  • Bad credit? Not a problem.

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What Is an Indiana Credit Services Organization Bond?

In a number of states, credit services organizations have to register with relevant authorities. This applies to Indiana as well. If you want to run such a business, you also have to post a credit services organization bond as a part of the process.

This surety bond works as an extra layer of protection for the state and your customers. It ensures you will follow the law. In case you engage in illegal actions that lead to damages, the harmed parties can file a claim against your bond to seek a reimbursement.

The Indiana credit services organization bond is, in essence, a contract between three parties. Your business is the principal. The Indiana Office of the Attorney General is the obligee that requires the bond. Last but not least, the surety provides you with the bonding.

Frequently Asked Questions

When is this bond required?

All credit services organizations in Indiana have to provide a $25,000 surety bond to the Office of the Attorney General prior to starting their operations. You should use the official bond form.

The bond guarantees your compliance with Chapter 15, Article 5, Title 24 of the 2010 Indiana Code.

What are the bonding costs?

In order to obtain your state registration, you have to meet the bonding requirement of $25,000. In reality, you have to pay only a small fraction of it to get bonded. This is your bond premium. If your finances are in good shape, you can expect to pay as little as 1% and 3% of the bond amount.

Surety Bond Cost Based on Credit Score
Surety bond name Surety bond amount Above 700 Between 650-699 Between 600-649 Below 599
Indiana credit services organization bond $25,000 $187.5-$375 $250-$625 $625-$1,250 $1,250-$2,500

What are the factors that influence your surety bond cost? When you apply for a bond, your surety has to consider a number of criteria that show the strength of your business and your finances. These include your personal credit score and business finances, as well as any assets and liquidity. This is how it can judge the level of risk that you pose. The lower it is, the smaller your bond price is likely to be.

Can I get bonded with bad credit?

Having a low credit score, bankruptcies, tax liens, or civil judgements can get in the way of obtaining your surety bond. That’s why Lance Surety Bonds runs its Bad Credit Surety Bonds program. It is created to help applicants with financial issues.

The rates in this special program are often between 5% and 10%. Since the bonding risk involved is higher, they compensate for it. As we foster close relations with a number of A-rated, T-listed surety companies, we have the possibility to find the best bonding option for your particular case.

How do I get an Indiana credit services organization bond?

Do you want to know the nitty-gritty details of how bonding works? Our How to Get Bonded page is an excellent in-depth resource on the topic.

You can always reach us at (877) 514-5146. Lance Surety Bonds’ experts will happily assist you with any questions you might have, or help you out with your bond application.

How are bond claims handled?

The purpose of your surety bond is to protect your customers from potential damages you may cause them due to illegal or irresponsible actions. They can file a claim against your bond in such situations. The maximum penal sum they can seek is the bond amount, which is $25,000.

The surety that bonded you may step in initially, so that it ensures a fast compensation to the claimants. You are liable to cover all costs soon after. Thus, the whole financial responsibility remains with you. Bond claims can be troublesome for your company - both financially and in terms of reputation. The best course of action is to stay away from situations that can lead to them.

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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!

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