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Credit Counselor
License Description

Occupational Description


A Credit Counselor is an individual who helps individual debtors with debt settlement through education, budgeting, and the use of a variety of tools with the goal of reducing and ultimately eliminating debt. Credit counselors work for a Debt Management or Credit Services Organizations agency. The debt management or credit services organizations are issued a license to conduct business in Nebraska.

Licensure Requirements


Debt Management Agency: Applicants must submit an application, a blank copy of their contract they intend to use between the agency and the debtor, and a $10,000 surety bond. Credit Services Organizations: Applicants must submit an application of registration, a blank copy of their contract, and a $100,000 surety bond or surety account.

Fees


Debt Management Agency: Initial Fee- $200.00 Investigation fee- $200.00 Branch Office- $100.00 per additional office Credit Services Organization: Initial Fee- $100.00

Renewal


Debt Management Agency licenses must be renewed annually by December 1. The renewal fee is $100.00. Credit Services Organization licenses do not expire qnd do not require payment of any additional renewal fees. Bond is typically renewed each year.
Licensing Agency
Nebraska Secretary of State
P.O. Box 94608
Lincoln, NE 68509
(402) 247 8606
sos.licensing@nebraska.gov
Active Status Active
Active Military/Veterans A temporary license is available to military and spouses until formal license approval
License Type Stand-alone license
License Updated 08/09/2023
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