Anyone operating a South Carolina Credit Counseling Organization Bond business, also known as a Credit Counseling Organization, in the State of South Carolina is required to execute a South Carolina Credit Counseling Organization Bond, also known as a Credit Services Special Deposit Bond, in an amount of no less than $25,000 to ensure compliance with Section 37-7-103 of the South Carolina Statutes.

Bonds Express offers a South Carolina Credit Counseling Organization Bond with a high approval rate.

$250 is your GOOD CREDIT PRICE for a South Carolina Credit Counseling Special Deposit Bond.

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A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal.  The South Carolina Credit Services Special Deposit Bond holds you accountable for your business decisions.

By possessing a South Carolina Credit Services Special Deposit Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.

Who Needs This Bond

This bond applies to any business or nonprofit operating as a credit counseling organization in South Carolina, including debt management and credit counseling services covered under the Licensing Requirements Act of Consumer Credit Counseling. If your organization is unsure whether it is covered, the South Carolina Department of Consumer Affairs is the licensing authority to confirm with directly.

Bond Amount and Cost

The minimum bond amount is $25,000. Premiums for applicants with good credit typically run between 1 percent and 3 percent of the bond amount per year, which puts a $25,000 bond in the $250 to $750 range for most applicants, though your exact rate depends on credit and financial strength.

How to Get Bonded

Submitting the application is all that is required to get a price, usually within 24 hours during business hours, Monday through Friday, 9 AM to 5 PM EST. If anything more is needed, our team follows up within 24 hours. There is no application fee and quotes are free.

Bonding With Bad Credit

Less than perfect credit does not automatically disqualify an applicant. Premium rates may be higher, and in some cases a collateral deposit may be required. See our full guide to getting bonded with bad credit for how this works.

What Happens If You Do Not Maintain This Bond

Under the official bond terms, the bond is triggered if the organization fails to comply with the Licensing Requirements Act or fails to provide the contracted credit counseling services, as determined by the Administrator of the Department of Consumer Affairs after notice and a hearing. Operating without an active bond can put your South Carolina license at risk, so renewing before expiration matters. See our surety bond renewal guide for how the renewal process works.

Other South Carolina Surety Bonds

Browse all South Carolina surety bonds or see every Credit Services Organization Bond we offer by state.

Frequently Asked Questions

What is a South Carolina Credit Counseling Special Deposit Bond?
It is a type of surety bond required by the South Carolina Department of Consumer Affairs. It guarantees that a credit counseling organization follows state licensing law and delivers the services it contracts to provide. If it does not, a valid claim can be paid up to the bond amount.
How much does this bond cost?
For most applicants with good credit, the premium runs 1 percent to 3 percent of the $25,000 bond amount per year, roughly $250 to $750. Your final rate depends on your credit and financial history.
Can I get this bond with bad credit?
Yes, in most cases. Premium rates may be higher and a collateral deposit may sometimes be required. See our bad credit surety bonds guide for details.
What happens if my bond lapses?
A lapsed bond can put your South Carolina credit counseling license at risk, since the bond is a condition of staying licensed. Renew before your expiration date to avoid a gap in coverage.