Credit Counselor

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<h3>Occupational Description</h3><br>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.<br><h3>Licensure Requirements</h3><br>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. <br><h3>Fees</h3><br>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<br><h3>Renewal</h3><br>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.