Texas Credit Service Organization Bond |
AmeriPro Surety Bonds | 844-589-9732
Texas Credit Repair Bond
***We are currently not a market for this surety 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.
Texas Credit Services Organizations
CSO’s also utilize many of the federally mandated rules found under the Fair Credit Reporting Act (FCRA).
In Texas, CSO’s are also required to:
- register with the Texas Secretary of State;
- pay a $100 registration fee;
- and post at least one $10,000 Texas Credit Service Organization Bond.
Texas Credit Services Organization Bond: Purpose
The purpose of the Texas credit service organization bond is to protect consumers from any acts of fraud, theft, or misrepresentation committed by a licensed Texas CSO, or its employees, in the context of their credit repair duties.
Should a consumer be able to prove any of these misdeeds, the surety company can pay up to the $10,000 surety bond amount.
However, the credit service organization surety bond, is not insurance or a liability insurance policy.
Accordingly, any amount paid by a surety would require the full reimbursement of the principal (the CSO and individual who has purchased the surety bond).
Texas Credit Services Organization Bond: Number of Bonds Required
The state requires a separate $10,000 Texas credit service organization bond for each CSO (credit repair) location in Texas.
Texas Credit Services Organization Bond: Duration
Our agency only offers this bond for a 3-year term; the premium will be $260. We no longer offer this bond on an annual basis.
Texas Credit Services Organization Bond: Premium Amount
Our agency offers the Texas credit repair organization bond for $260 for a three year term. We are no long offering this bond with an annual premium.
When you call our agency, we’ll take the application from you over the phone. We’ll need a signed application, however, in order for us to proceed.
After receipt of the application and payment of the premium, our agency issues the bond to you for mailing and filing. Upon receipt, you’ll sign your bond as Principal and file it to:
State of Texas, Secretary of State
PO Box 13550
Austin, TX 78711-3550
An Interesting Advantage that comes with this Bond:
While credit repair companies in Texas may not charge advance fees to customers, they may be permitted to do so, if they have the required credit repair bonds in place.
Still, even with the bond, there may be a violation of federal law, specifically, the Telemarketing Sales Rule.
In any case, consult the law, and if need be, legal counsel on this matter.
AmeriPro Surety Bonds
AmeriPro Surety Bonds is a surety bonds-only agency which provides bonds throughout Texas.
We also provide license and permit, contractor, court and fiduciary bond.
We truly work for you.
Please call our AmeriPro Surety Bonds today for your required Texas credit repair bond at: