This bond is required by the Department of Consumer Affairs. The bond states that the bond holder, or Principal, comply with the Licensing Requirements Act of Consumer Credit Counseling, S.C. Code section 37-7-101 et seq. The required bond amount varies; it must be at least $25,000, must equal or exceed the total amount of South Carolina clients’ funds in the applicant’s or licensee’s trust account at the time of application for license or renewal, as determined by the department. The premium on this bond is generally as low as 1.5%.
To Attain a South Carolina Credit Counseling Organization Bond:
- Complete an online application.
- One of our expert commercial surety agents will call and email you with the firm quote and an agreement to sign.
- Provide payment and your signed agreement, then you will receive your bond!
** all bonds are subject to the underwriting terms and conditions of the issuing company.