Iowa Credit Services Organization Bond |
AmeriPro Surety Bonds | 844-589-9732
***As of August 1, 2020, we are currently not a market for this bond.***
AmeriPro Surety Bonds is not connected to, either directly or indirectly, any local, state, or national groups involved in any way with the credit repair industry. All customers or potential customers are judged individually, based solely on meeting the criteria of having “good credit” to qualify for surety bond approval where required.
Credit Repair Companies – Iowa
Credit repair companies operating in Iowa are required to register with the Iowa Secretary of State, pay a $50 registration fee, disclose any matters pending litigation, and obtain a $10,000 surety bond if what follows below is applicable.
According to statute 538A.3 of the state’s laws, if your Iowa credit services organization business plans to accept fees from consumers before completion of the work to be performed, a $10,000 surety bond is required.
Obtaining the bond through our agency is quick and takes a matter of minutes.
Qualifying and the Premium
The $10,000 Iowa credit services organization bond (credit repair bond) is issued to you immediately upon completion of an application and payment of the $150 premium.
There is neither an underwriter review nor a credit score inquiry necessary to obtain this bond. Once the application is completed and the $150 premium is paid, this bond is issued to you thereafter.
A copy of the bond can be sent to you by email at your request. The original surety bond, which you will sign as Principal, will be mailed to you by the following business day.
It is ideally the mailed bond that you should file with the Iowa Secretary of State.
The Iowa credit services organization bond is issued with a continuous clause. This means that unless either you or the surety cancels the bond, the bond is perpetual in nature.
The premium payment of $150, barring the exceptions mentioned above, is a onetime payment.
Purpose of Your Surety Bond Requirement
The purpose of the Iowa credit repair bond is to ensure your compliance with Chapter 538A of the Iowa statutes governing credit services organizations. The bond is a financial guarantee for those consumers who can demonstrate harm due to the failure of a credit repair company to comply with state regulations, which in turn, results in loss.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide surety bonds throughout Iowa.
Our agency also provides surety bonds nationwide.
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