Who requires it
Office of the Indiana Attorney General — Consumer Protection Division
License & permit · Indiana
Indiana Credit Services Organization Bond
Before doing business in Indiana, a credit services organization must obtain a $25,000 surety bond under IC 24-5-15-8 and file a copy with the Office of the Indiana Attorney General. The Attorney General’s Consumer Protection materials treat foreclosure consultants as covered under the same chapter and publish one combined Foreclosure Consultant / Credit Services Organization bond form. The bond protects people harmed by a violation of the credit-services law. The Attorney General may waive the bond and accept an irrevocable letter of credit for an equivalent amount, also filed with the Office before operations begin.
Common bond amount
$25,000
Required $25,000 amount. The Attorney General may accept an equivalent letter of credit instead.
How you file
File the Attorney General’s form. It stays active until cancelled.
Renewal
Keep it active while you operate. Replace it before any cancellation date.
Who requires it
Credit services organizations under IC 24-5-15—businesses that, for a fee, improve credit, obtain credit or mortgage forbearance, lower certain interest rates, provide debt settlement, or advise on those services—and foreclosure consultants the Attorney General includes in the same filing program. Confirm whether your activities fit the statutory definitions in IC 24-5-15 and, for foreclosure consulting, IC 24-5.5 before relying on an exemption.
How much is required
IC 24-5-15-8 sets a fixed $25,000 surety amount. There is no volume formula on this instrument. If the Attorney General waives the bond, the irrevocable letter of credit must be for the same amount.
How to get and file it
Have a company allowed to write bonds in Indiana complete the Attorney General’s Foreclosure Consultant / Credit Services Organization surety bond form for $25,000, or—if the Office waives the bond—obtain an irrevocable letter of credit for $25,000. File a copy of the bond or letter of credit with the Office of the Indiana Attorney General, Consumer Protection Division, before doing business in Indiana. The official AG form states the bond stays in force indefinitely unless the surety cancels by giving 30 days’ written notice to both you and the Attorney General’s Consumer Protection Division. Keep a live bond or accepted letter of credit on file while you operate. Claims can be filed for 2 years after the act they are based on.
Cost note
Twenty-five thousand dollars is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Required amount
- $25,000 surety (or equivalent irrevocable letter of credit)
- Who requires it / who can recover
- Protects people harmed by a violation of the credit-services law
- Filing
- File a copy with the Indiana Attorney General before doing business
- Form
- AG Foreclosure Consultant / Credit Services Organization Surety Bond
- Cancellation
- 30 days’ written notice to you and AG Consumer Protection Division
- Action period
- Claims can be filed for 2 years after the act
Official sources
Frequently asked questions
Do foreclosure consultants need a separate bond from credit services organizations?
No separate statewide form was verified. The Attorney General publishes one combined Foreclosure Consultant / Credit Services Organization bond under IC 24-5-15 and states that credit services organizations, including foreclosure consultants, must file the $25,000 surety before doing business.
Can I use a letter of credit instead of a surety bond?
Yes, if the Attorney General waives the bonding requirement and accepts an irrevocable letter of credit for an equivalent amount. File a copy of that letter with the Attorney General before doing business.
Is this the same as the SOS loan broker bond?
No. Loan brokers bond through the Secretary of State Securities Division under IC 23-2.5 for $60,000 via NMLS. This Attorney General instrument is the IC 24-5-15 credit services / foreclosure consultant security.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Indiana application
Indiana will be preselected. Choose your bond type in the application—we confirm the correct product against your agency form before anything is issued.
Last verified 2026-08-10. This guide is based on verified educational content and official sources.
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