California Credit Services Organization Bond (Credit Repair Service Bond ~ California)

Bond Penalty: $100,000

Credit services organizations are regulated by Federal Code and currently twenty three jurisdiction by state statutes. A California credit services organization bond is one of the requirements of individuals and business entities seeking to offer services in the state. Pursuant to Califomia Civil Code section 1789.25(a), "Every credit services organization shall file a registration application with, and receive a certificate of registration from, the Department of Justice before conducting business in the state along with a registration fee of one hundred dollars ($100)."

The California credit services organization bond guarantees that the licensee will pay sums due any individual or group of individuals when such the CSO has received them, and pay all damages caused to any person by unlawful acts or omissions of the licensee, its agents or employees while acting within the scope of their employment. The California CSO bond must be issued by an admitted surety company in the amount of one hundred thousand dollars ($100,000), using the state-approved surety bond form. The application, fee and surety bond must be submitted to the attorney general.

Department of Justice
Attorney General's Office
P.O. Box 85266
San Diego, CA 92186-5266

The state law restricts CSO practices but does not nullify the Federal Code (15 U.S. Code §1679j) that regulates the activity. There are specific acts prohibited under federal laws. The credit service organization bond may generally be claimed upon for violations of particular state rules, rather than the CRO Act so it is important to read and understand the regulations.

California surety bond leader, SuretyOne.com is a specialist in the bonding needs of CSOs, debt adjustment and collection agencies. We offer both the surety bonds and fidelity bonds needed by credit service professionals in all fifty states, Puerto Rico and the U.S. Virgin Islands. Questions about this surety bond? Call us at (800) 373-2804, email us at Underwriting@SuretyOne.com or click here for live chat. A California credit services organization bond is quick, easy and delivered in hours.

Surety bond application review and quoting are free of charge. There is no obligation to purchase.