Oklahoma Credit Services Organization Bond
AmeriPro Surety Bonds | 844-589-9732
Please note: We are now only offering the Oklahoma credit services organization bond for the 3-year term, at $390. We will no longer be offering this bond for 1 or 2 year periods.
***We are currently not a market for this bond.***
Credit Repair Companies – Oklahoma
Oklahoma credit services organizations must register with the state’s Department of Consumer Credit, paying a total of $900 in registration fees.
At the time of the submission of the license application you must also provide proof of having purchased a $10,000 surety bond (not afterwards). Meeting the surety bond requirement will be the quickest part of the entire licensing process.
Qualifying and the Premium
You are automatically approved for the $10,000 Oklahoma credit services organization bond! This is because after an application — which we can take from you over the phone — and payment of the $150 premium, the bond is issued to you immediately.
Unlike credit repair surety bonds in some other states, where the amounts are larger and good credit is required, there is no credit inquiry nor underwriter review for this bond.
After the bond has been issued to you, at your request, a copy of the bond can be emailed to you. The original bond, which will bear our wet signature and which you will also sign as Principal, will be sent to you by the following business day.
Additional Premium Payment Options
At $150 premium, the Oklahoma credit repair bond is issued for a standard one year term. After the term is up, the surety bond and the premium must be renewed.
You also have the option to prepay this bond for up to 3 years. Prepayment does several things: The first is that it of course lengthens the time between renewal; and the second is that it offers you a savings over renewing your premium each year.
The premium amounts and savings are as follows:
- If prepaid for 2 years, the premium is $270, a $30 savings;
- If prepaid for 3 years, the premium is $390, a $60 savings.
Purpose of this Surety Bond Requirement
As a credit repair company, as you know, you must comply with the Credit Repair Organizations Act (CROA), and relevant portions of the Fair Credit Reporting Act (FCRA).
As an entity operating in Oklahoma, you are also required to comply with Title 24 – Chapter 8 which is Oklahoma’s own Credit Services Organization Act. The credit repair surety bond, in turn, is a financial guarantee of your compliance with these laws.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit bonds throughout Oklahoma. Our agency also provides surety bonds nationwide.
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