Credit Counseling Organization Special Deposit Bond
Credit counseling organizations providing or offering to provide credit counseling services (including debt management plans, credit repair, or debt negotiation) for a fee, compensation, or gain. Required when: Before offering or agreeing to offer credit counseling services in South Carolina. Exemptions: Attorneys at …
Overview
What it is.
Credit counseling organizations providing or offering to provide credit counseling services (including debt management plans, credit repair, or debt negotiation) for a fee, compensation, or gain. Required when: Before offering or agreeing to offer credit counseling services in South Carolina. Exemptions: Attorneys at …
Who usually needs it
Credit counseling organizations providing or offering to provide credit counseling services (including debt management plans, credit repair, or debt negotiation) for a fee, compensation, or gain.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateSCBond amount$25,000Term lengthContinuousObligeeSouth Carolina Department of Consumer AffairsRenewalLicenses must be renewed annually between September 1st and December 1st. At the time of renewal, the bond amount must be reviewed and adjusted to ensure it equals or exceeds the total amount of South Carolina clients' …Bond classLicense BondCategoryReal EstateBondCredit Counseling Organization Special Deposit BondStatutory referenceS.C. Code Ann. § 37-7-103JurisdictionState
