West Virginia Credit Services Organization Bond
AmeriPro Surety Bonds | 844-589-9732
***We are currently not a market for this bond.***
Credit Services Organizations – West Virginia
Credit services organizations, or credit repair companies, are regulated and licensed by West Virginia’s Secretary of State.
The licensing and bonding requirement also includes first and second mortgage brokers and lenders who perform credit repair and who are also statutorily non-exempt.
The surety bond amount is $15,000.
Qualifying and the Premium
You are automatically approved for the $15,000 West Virginia credit services organization bond. When you call our agency, we’ll take the short surety bond application from you over the phone.
There is neither a credit check nor an underwriter review for this surety bond.
After payment of the $225 premium, our agency issues this bond to you immediately. Your surety bond along with the Power of Attorney (POA)will be sent to you by the following business day for filing. Upon receipt, the bond will have our signature as Surety and then will require your signature as Principal.
Both your bond form and POA should be filed with the Secretary of State.
Premium Payment Options
At $225 premium, your West Virginia credit services organization bond is active for one year and thereafter renews on the anniversary of its issuance.
The option also exists to prepay your bond for up to 3 years which offers you a savings over annual renewals.
The premium prepayment premium options and savings are as follows:
- If prepaid for 2 years, the premium is $405, a $45 savings;
- If prepaid for 3 years, the premium is $585, a $90 savings.
Purpose of Your Surety Bond Requirement
Your West Virginia credit repair bond is a financial guarantee of your compliance with all provisions of the West Virginia Consumer Credit Protection Act. Especial attention should be given to paragraph §46S-6C-3 of the state’s statutes which deals with prohibited conduct.
AmeriPro Surety Bonds is a surety bonds-only agency which provides credit services organization surety bonds in all states where this is required by law. We also provide license and permit bonds in all 50 states.
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