Florida Credit Service Organization Bond

The state of Florida requres any credit repair agency providing, advertising or attempting to sell the services of a Credit Service Organization wherein money is collected prior to the rendering of services to post and maintain a $10,000 FL Credit Service Organization surety bond to ensure compliance against prohibited acts as per Section 817.7005(1) of the Florida Statutes.  According to FL statute 817.7001, a Credit Service Organization is any person who, whith regard to the extension of credit by others, sells, provides, performs or represents that he or she can or will sell, provide, or perform, in return for the payment of money or other valuable consideration to improve a buyers credit record, history or rating; obtain an extension of credit for a buyer or provide advice or assistance to a buyer.

 

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