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 runs in favor of the state for the benefit of a person damaged by a chapter violation. 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
Fixed $25,000 under IC 24-5-15-8; AG may accept an equivalent irrevocable letter of credit instead of the bond.
How you file
File the AG form; stays in force until cancelled with 30 days’ notice
Renewal
Keep continuous while operating; replace before any cancellation effective 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 twenty-five thousand dollar ($25,000) surety face. There is no volume formula on this instrument. If the Attorney General waives the bond, the irrevocable letter of credit must be for an equivalent amount.
How to get and file it
Have an Indiana-authorized surety execute 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 in favor of the state. 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 remains in full force indefinitely unless the surety cancels by giving thirty 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. The form also provides that a suit on the bond to enforce liability must be brought within two years after the act on which it is based.
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
- In favor of the state for the benefit of a person damaged by a chapter violation
- 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
- Suit on the bond within two years after the act (per AG form)
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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