1 (844) 589-9732 info@ameriprosuretybonds.com

Nevada Credit Services Organization Bond

A NV credit repair company is required to obtain a $100k Nevada credit services organization bond. This bond is available from our agency at a good price! 844-589-9732.

Nevada Credit Service Organization Bond |

Nevada Credit Repair Bond |

AmeriPro Surety Bonds | 844-589-9732

 

Nevada Credit Service Organizations

 

Nevada-based credit services organizations are more commonly known as “credit repair” companies.

Such companies exist to provide credit services to consumers with the goal of:

  • Improving a customer’s credit report (as found on Equifax, TransUnion, or Experian and other credit bureaus);
  • Providing more favorable repayment terms, including the reduction of terms or interest rates, or the complete elimination of debt entirely;
  • Providing new extensions of credit.

 

Nevada Credit Service Companies:  Licensing

 

Though Nevada credit repair companies are required to register with the state, there is no formal licensing as such.

All Nevada credit repair companies are prohibited, however, from operating at all without first registering with the state and providing the required $100,000 surety bond.

 

Nevada Credit Services Organizations:  Prohibited Activities

 

Nevada credit repair companies are prohibited from doing all of the following:

  • Advising any clients to make any statements which are untrue or misleading, especially when the untrue statement is known, or could easily be known;
  • Receiving payment, in the form of money, or the equivalent, before services have been completed by the credit repair organization (to comply, some credit repair companies now only charge for items which have been “deleted” from a customer’s credit report. This is known as “Pay for Delete”);
  • Charging a client to obtain new credit, when, had the client obtained the credit on their own initiative, they would have received the same terms (i.e. interest rate, payment amounts, credit limits, etc.)
  • Advising clients to create a “new” social security number, or other activities, the goal of which is to create a new credit file distinct from the client’s own;
  • Attempt to remove, or have the client assist in removing, information from the credit report which is not “obsolete”

Nevada Credit Service Organization:  $100,000 Surety Bond required

 

Before a credit repair organization may legally operate in Nevada, they are required to post a $100,000 surety bond.

The surety bond is issued for benefit of the consumers of the credit repair organization, not the Nevada credit repair company.

The bond protects the consumers from criminally wrongful acts committed by a credit services organization (CSO).

 

Cost of the Nevada Credit Service Organization Bond

 

Although this credit repair is $100,000, sharing this high dollar requirement with California, applicants for a Nevada credit services organization bond will only pay a small percentage of that amount.

With good credit, applicants may pay only 1% this bond.

Persons with challenged credit will pay more; however, please read below.

 

Payment Plans Accepted

 

Because of the high dollar value of this bond, AmeriPro Surety Bonds allows, in certain instances, a payment plan for the surety bond.  Typically, the down payment is between 30-40% of the bond’s premium, with the balance paid within 4 to 5 months.  Not all persons will qualify, and a threshold of $1500 typically must first be met to qualify.

 

After the Nevada Credit Service Organization bond has been issued

 

Credit service organization in Nevada come under the authority of the Division of Mortgage Lending, Department of Business and Industry, State of Nevada.

You will want to have the bond immediately filed with this government entity to demonstrate compliance.

 

About AmeriPro Surety Bonds

 

AmeriPro Surety Bonds is a surety-bonds only agency which provides notary, contract, commercial, fiduciary and license and permit bonds throughout all of Nevada.

Our agency also provides surety bonds in all 50 states.

 

 

Contact AmeriPro Surety Bonds today at:  844-589-9732

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AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

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