{"id":1351,"date":"2014-01-20T18:24:39","date_gmt":"2014-01-20T18:24:39","guid":{"rendered":"http:\/\/suretyone.com\/blog\/?p=1351"},"modified":"2017-01-03T16:20:32","modified_gmt":"2017-01-03T16:20:32","slug":"indiana-credit-services-organization-surety-bond","status":"publish","type":"post","link":"https:\/\/suretyone.com\/blog\/indiana-credit-services-organization-surety-bond\/","title":{"rendered":"Indiana Credit Services Organization Surety Bond"},"content":{"rendered":"<p>A newly enacted Indiana statute requires all credit services organizations, including foreclosure consultants, to file an <span style=\"text-decoration: underline;\"><strong><a href=\"https:\/\/suretyone.com\" target=\"_blank\">Indiana credit services organization surety bond<\/a><\/strong><\/span> with the Office of the Indiana Attorney General before doing business in the state. The purpose of the surety bond is to provide a remedy for consumers who are damaged by a violation of the consumer protections laws that regulate credit service companies during the course of a credit services transaction.<\/p>\n<p>Under Indiana Code ch. 24-5-15, a credit services organization must, before doing business in Indiana:<\/p>\n<ul>\n<li>Obtain a $25,000 <span style=\"color: #888888;\"><strong><a href=\"https:\/\/suretyone.com\/commercial-surety-bonds\" target=\"_blank\">surety bond<\/a><\/strong><\/span>\u00a0 from a company authorized to do business in Indiana<\/li>\n<li>File a copy of that <strong>Indiana surety bond<\/strong> form with the Office of the Attorney General<\/li>\n<\/ul>\n<p>According to the A.G.&#8217;s website, they intend to strictly enforce the new requirement. \u00a0The Office has stated, &#8220;Failure to obtain and file a surety bond before doing business in Indiana constitutes a deceptive act that is actionable by the Office and may be subject to fines, penalties, and other remedies.&#8221; \u00a0 For further information or to better understand if you are a credit services organization or foreclosure consultant, see Indiana Code\u00a0<a href=\"http:\/\/www.in.gov\/legislative\/ic\/code\/title24\/ar5\/ch15.html\">ch. 24-5-15<\/a>\u00a0and\/or Indiana Code ch.\u00a0<a href=\"http:\/\/www.in.gov\/legislative\/ic\/code\/title24\/ar5.5\/ch5.html\">24-5.5-5<\/a>. \u00a0Your work may fall within the statutory description.<\/p>\n<p>The <span style=\"text-decoration: underline;\"><strong><a href=\"https:\/\/suretyone.com\/surety-bonds-a-to-z\" target=\"_blank\">surety bond<\/a><\/strong><\/span> form is not overly onerous, however the provisions do allow any party to bring an action against the bond. \u00a0The obligation is not cumulative and surety does have the right to cancellation should it choose to do so. \u00a0The final provision does give the bond a two year claims &#8220;tail&#8221;. \u00a0You may view the <span style=\"text-decoration: underline;\"><a href=\"http:\/\/www.in.gov\/attorneygeneral\/files\/CSO-FC_Surety_Bond.pdf\" target=\"_blank\">state surety bond form here<\/a><\/span>.<\/p>\n<p><strong>Indiana surety leader<\/strong>,\u00a0Surety One, Inc.\u00a0will\u00a0issue this class of surety bond for ALL applicants, regardless of credit condition. \u00a0Do you operate in multiple states? \u00a0We offer these in EVERY state where\u00a0credit services organization surety bonds\u00a0and\u00a0<strong>foreclosure consultant surety bonds<\/strong>\u00a0are required. We also offer broad <a href=\"https:\/\/suretyone.com\/fidelity-bonds\" target=\"_blank\">fidelity bond<\/a> coverages to protect your business from employee dishonesty losses. \u00a0Visit us at\u00a0<a href=\"https:\/\/suretyone.com\" target=\"_blank\">SuretyOne.com<\/a>, call\u00a0<span style=\"color: #ff0000;\">(787) 333-0222<\/span>\u00a0or\u00a0<span style=\"color: #ff0000;\">(800) 373-2804<\/span>, or email\u00a0<span style=\"color: #ff0000;\">Underwriting@SuretyOne.com<\/span>\u00a0for an <strong>Indiana surety bond<\/strong>\u00a0application or further information about surety bonding.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A newly enacted Indiana statute requires all credit services organizations, including foreclosure consultants, to file an Indiana credit services organization surety bond with the Office of the Indiana Attorney General before doing business in the state. The purpose of the&#8230; <a class=\"more-link\" href=\"https:\/\/suretyone.com\/blog\/indiana-credit-services-organization-surety-bond\/\">Continue Reading &rarr;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[139],"tags":[1656,1657,1651,1652,1653,1654,1655],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Indiana Credit Services Organization Surety Bond &bull; Surety One, Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/suretyone.com\/blog\/indiana-credit-services-organization-surety-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Indiana Credit Services Organization Surety Bond &bull; Surety One, Inc.\" \/>\n<meta property=\"og:description\" content=\"A newly enacted Indiana statute requires all credit services organizations, including foreclosure consultants, to file an Indiana credit services organization surety bond with the Office of the Indiana Attorney General before doing business in the state. 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