1 (844) 589-9732

South Carolina Credit Counseling Bond

A South Carolina credit counseling bond is required of those companies which specialize in helping getting peoples’ lives back in order. Our agency offers good pricing for the surety bond amount that you require. Please call AmeriPro Surety Bonds today at 844-589-9732.

South Carolina Credit Counseling Bond |

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Credit Counseling Companies – South Carolina

 

 

 

The South Carolina Department of Consumer Affairs is the regulatory bond charged with the overseeing credit counseling companies.

As stated on the state’s website, credit counseling in South Carolina includes:

  • Credit repair;
  • Taking money from consumers to satisfy creditors;
  • Negotiating debts for consumers with creditors.

To be licensed as a credit counseling company, you are statutorily required to purchase a surety bond and file it with the Department. Our agency works to find you the fairest surety bond pricing.

 

 

 

Amount of Surety Bond Required – Qualifying – Premium

 

 

 

According to § Section 37-7-103 of South Carolina statutes, the surety bond amount is:

  • A minimum amount of $25,000 surety bond;
  • Or, equal to the amount of amount of client funds held in your trust account at the time of the renewal of the license;
  • Or, in an amount as determined by the Department as a condition of licensing.

Qualifying involves completion of a surety bond application and a credit score inquiry. Surety bond agencies – not only our own but others as well – use “soft inquiries” which will not adversely impact your credit score.

We also offer you the option to have the bond issued instantly and with no credit check at all for amounts up to $50,000; however, you do pay a slightly higher premium.

Typically the bond premium is between 1 to 1.5% of the surety bond amount required.

 

 

 

The Bond Term

 

 

 

Once issued, the South Carolina credit counseling surety bond is active for one year from the date of issuance, thereafter, the bond is renewed.

Since the licensing cycle for a credit counseling business runs from September 1st through December 1st, you may wish to have your bond run for an annual term for any between those months; however, our agency does not require that you do so.

 

 

 

Purpose of the Surety Bond Requirement

 

 

 

The credit counseling surety bond is required for the protection and benefit of consumers. The bond serves as a financial guarantee that all money collected will be able to be accounted for if required. It is also for the benefit for the State of South Carolina and any consumers who may have a cause of action against a credit counseling business.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout South Carolina.

Our agency also provides surety bonds nationwide.

Please call our agency today at:

 

 

844-589-9732

 

 

Or, you may fill out the form below and an agent will contact you…

 

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AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

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