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Louisiana Credit Repair Service Surety Bond

Louisiana Credit Repair Service Surety Bond

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Who Requires the Credit Repair Service Surety Bond and Why Is It Needed?

Graphs. Credit Services Organization bond for those who offer professional credit services

The Office of the Louisiana Attorney General requires that Credit Service Repair Organizations operating in the state furnish a surety bond in the amount of $100,000 to ensure compliance with state statutes, regulations and other mandated business guidelines. The purpose of the credit repair service surety bond is to secure the compliance by credit repair business with the terms of Credit Repair Service Organization Act, LSA-R.S. and any other legal obligations arising out of the principal's professional conduct as a credit repair service organization. In the event of a violation of the statute or other legal obligation by the bonded principal, the Office of the Louisiana Attorney General, as well as anyone damaged may seek action on this bond to recover losses sustained.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your Louisiana Credit Repair Service Surety Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.

If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.

What Does the Bond Protect Against?

The purpose of this surety bond is to secure the compliance by the Bonded Principal with the terms of the Credit Repair Service Organization Act, LSA-R.S. 9:3573.4 and any other legal obligations arising out of the Principal’s conduct as a credit repair service organization. If Principal violates the statute, or other legal obligation arising out of its conduct as a credit repair service organization, the Office of the Louisiana Attorney General, as well as any person damaged as a result of such violation, shall have, in addition to all other legal remedies, a right of action on this bond in the name of the injured party for loss sustained by the injured party. The bond may be canceled by the surety at any time with sixty (60) day written notice of such cancellation.




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