The North Carolina Credit Repair Services bond is required by the North Carolina General Assembly as part of the Credit Repair Services Act of 1991. Per North Carolina, a credit repair business” means any person who, with respect to the extension of credit by others, sells, provides, or performs, or represents that such person can or will sell, provide, or perform any of the following services in return for the payment of money or other valuable consideration:
- Improving, repairing, or correcting a consumer’s credit record, history, or rating;
- Obtaining revolving charge card credit or retail installment credit;
- Providing advice or assistance to a consumer with regard to either sub-subdivision a. or b. above
The purpose of Credit Repair Services Act of 1991 is to ensure that businesses offering credit repair services are providing these services in a manner that is fair and reasonable to the consuming public. Every contract between a consumer and a credit repair business for the purchase of the services of the credit repair business must be in writing, dated, signed by the consumer.
How long will it take to get a North Carolina Credit Repair Services bond?
Surety1 offers an easy to use, online application. Once we receive your application, an agent will provide a quote, usually the same business day the bond is applied for. Then you make payment and return some paperwork and we ship the bond and Overnight shipping is an option for an additional fee. It’s that easy. Surety1 has been providing surety bonds in North Carolina since 2003 and is rated A+ by the Better Business Bureau .