Requirements to open a Credit repair service in South Carolina?

One Comment

1. anywhoo says:

   January 26, 2012 at 11:26 pm

   You would have to follow both the state and federal CRO laws. You would have to be licensed and bonded (minimum $25k bond in SC), take the required education, etc., etc., etc.

   You should contact the South Carolina Department of Consumer Affairs to learn exactly what you need to do under your states laws. If you also operate in other states you’ll have to follow those states laws as well, which will probably also mean licensing and bonding, etc., in those states..
   You also need to research the federal CROA.
   You’ll have to learn the debtor/creditor laws in your state and in any state that you may have dealings in, learn the FDCPA, FCRA, bankruptcy laws, repo laws, etc, etc.
   You’ll have to know and understand laws, statutes, case law, etc.
   You’ll have to learn how to research.