Renewals
What SC Department of Consumer Affairs filings(registrations) can I renew?
How do I renew SC Department of Consumer Affairs filings(registrations)?
Can I do a renewal of licenses on SCBOS?
Original Filings
How do I use SCBOS to submit Consumer Credit/Maximum Rate Filings when my business is not registered with SCBOS?
How is a creditor defined in South Carolina Consumer Protection Code?
What are consumer loans?
What are consumer credit sales?
What are rental/purchase and rent-to-own agreements?
When must a business file a Maximum Rate Schedule (MRS)?
Do I have to file a notification or MRS even though I finance exclusively services?
Do I have to file a notification or MRS to lease products/equipment?
Is there an annual license fee associated with a Maximum Rate Schedule?
What are the penalties for NOT filing a MRS?
What are the disclosure and posting requirements for MRS?
How do I access the Consumer Credit/Maximum Rate filings registration numbers?
What information do I need to apply for Consumer Credit/Maximum Rate filings?
How do I add Consumer Credit/Maximum Rate filings for additional locations?
What if a location is not already identified to SCBOS prior to filing a notification?
When must a business file Credit Grantor notifications?
Is there an annual license fee associated with a Credit Grantor notification?
When do Credit Grantor notifications become delinquent?
Can I click on any location for a business to initiate the Credit Grantor notification or Maximum Rate Schedule workflow?
Must I register my business and business locations with SCBOS before I submit Consumer Credit/Maximum Rate filings?
Where do I find the Department of Consumer Affairs applications?
Who do I contact for additional information?
return to FAQs
How do I use SCBOS to submit Consumer Credit/Maximum Rate Filings
when my business is not registered with SCBOS?
Step 1 Register yourself as an SCBOS user. You can do this by going to www.scbos.com and clicking on “New User”.
Step 2 Register you business with SCBOS. You can do this by clicking on “Add Existing Business”. It costs nothing to register you business with SCBOS.
Please allow a half a business day for processing. This process brings to your User Workspace the list of Licenses/Permits/Registrations that you
have with various agencies.
Step 3 To find the Consumer Credit/Maximum Rate Filings for Consumer Affairs, click on the appropriate “Business Name” then the “General Business Location”
then on “Apply for Licenses/Permits/Registrations”. Select the applications that are appropriate.
You never again have to perform Steps 1 and 2 and you can apply for many Licenses/Permits/Registrations across agencies.
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How is a creditor defined in South Carolina Consumer Protection Code?
The SCCPC defines a creditor as the person who grants the credit in a credit transaction; or, except as otherwise provided, an assignee of a creditor’s right to payment. The use of the term does not in itself impose on an assignee any obligation of the assignor.
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What are consumer loans?
A consumer loan is a loan made by a person regularly engaged in the business of making loans, where the debt is incurred by an individual (primarily for personal, family or household purposes), the debt is payable in two or more installments and a loan finance charge is imposed.
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What are consumer credit sales?
A consumer credit sale is a sale or contract for goods, services, or an interest in land that is not secured by a first mortgage and involving the extension of credit by a creditor who is regularly engaged in the business of making credit sales; and the sale is made to an individual and a credit service (finance) charge is imposed or the debt is paid in four or more installments.
Consumer credit sales do not include:
• A sale where a seller allows the buyer to purchase goods or services with a lender credit card.
• A sale of interest in land if the debt is secured by a first lien in real estate.
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What are rental/purchase and rent-to-own agreements?
Consumer rental purchase agreements are defined as leases of personal property for personal, family or household purposes that are for an initial period of four months or less (vs. a consumer lease which must be held for a term exceeding four months) that are automatically renewable with each payment and that allow the lessee to become the owner on the terms specified in the agreement.
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When must a business file a Maximum Rate Schedule (MRS)?
Every creditor intending to impose a finance charge in excess of 18% (APR) on credit sales, consumer leases, and consumer loans must file a MRS.
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Do I have to file a notification or MRS even though I finance exclusively services?
Yes, you are required to file even though you finance only services
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Do I have to file a notification or MRS to lease products/equipment?
Yes, if the lease agreement exceeds four months.
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Is there an annual license fee associated with a Maximum Rate Schedule?
Yes, there is an annual filing fee of $40 per location. Fees are due on or before January 31st of each year. All filing fees must be made payable and forwarded to the SCDCA. Currently, only the initial filing may be completed through SCBOS.
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What are the penalties for NOT filing a MRS?
The excess finance charges must be refunded to the consumer or for cases of excusable neglect, civil fines can be assessed up to $5,000
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What are the disclosure and posting requirements for MRS?
Disclosure: All creditors making consumer credit sales in South Carolina are required by law to post a schedule showing the Maximum Rate of CREDIT SERVICE CHARGES expressed as the FINANCE CHARGE stated as ANNUAL PERCENTAGE RATES that the creditor intends to charge for various types of consumer credit transactions. The purpose of this requirement is to assist consumers in comparing the maximum rates that creditors charge. This helps to further the understanding of the terms of consumer credit transactions and help avoid the uninformed use of credit:
NOTE: Creditors are prohibited only from granting consumer credit at rates higher than those specified on the displayed Maximum Rate Schedule. A creditor may be willing to grant credit at rates that are lower than those specified depending on the amount, terms, collateral, and credit worthiness.
Posting: The MRS must be posted in a conspicuous place where credit sales are extended. The MRS must also contain a list of the maximum rate for finance charges that the creditor intends to impose for consumer credit transactions in each of the following categories of credit: Unsecured credit sales
- Secured credit sales by other than real estate
- Credit sales secured by real estate
- Open-end revolving credit
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How do I access the Consumer Credit/Maximum Rate filings registration numbers?
When you first log into SCBOS, you will see a list of businesses -- generally one. Click on the business name. This will take you to the User Workspace: Business Locations. The locations for the selected business will be displayed – generally one. Click on the location DBA name for the general business. The User Workspace: Location Homepage will now be displayed. On the right side is a link “View Applications/Permits/Registrations”. Click on this link. The reference number for the various Licenses/Permits/Registrations that you have will now be displayed for all agencies including the Dept. of Consumer Affairs.
Credit Grantor Notification /Maximum Rate filings are always associated with the general business location and not each specific location.
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What information do I need to apply for Consumer Credit/Maximum Rate filings?
- The SSN/FEIN for the business
- The business locations (DBA names and addresses) associated with the registration you are obtaining
- Types of consumer credit, where applicable
- Maximum rates, whether variable or fixed, minimum and maximum amounts, and the categories of consumer goods where applicable
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How do I add Consumer Credit/Maximum Rate filings for additional locations?
Once you make an original filing (either on paper or through SCBOS), only an “Update” version of the filing will be displayed in the apply list.
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What if a location is not already identified to SCBOS prior to filing a notification?
The new location can be added to the general business locations and then the Credit Grantor notification can be completed for the new location.
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When must a business file Credit Grantor notifications?
All persons or businesses that make consumer credit sales, consumer leases, or consumer loans in South Carolina whose annual gross volume of sales(credit and cash) exceeds $150,000 and has written agreements must file notifications with the South Carolina Department of Consumer Affairs (SCDCA) (§37-6-202)
A Maximum Rate Schedule is also required if finance charges are in excess of 18% Annual Percentage Rate.
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Is there an annual license fee associated with a Credit Grantor notification?
Yes, there is an annual filing fee of $120 per location. Notifications must be filed with the SCDCA within 30 days after commencing business in the state, and each year thereafter, on or before January 31st.
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When do Credit Grantor notifications become delinquent?
Notification filings which are 30 days delinquent must be accompanied by a penalty equal to the amount, indicated below:
|
31 to 45 days late |
30% of delinquent fees |
|
46 to 60 days late |
45% of delinquent fees |
|
61 to 75 days late |
60% of delinquent fees |
|
76 to 90 days late |
75% of delinquent fees |
|
91 to 100 days late |
90% of delinquent fees |
|
101 or more days late |
100% of delinquent fees |
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Can I click on any location for a business to initiate the Credit Grantor notification
or Maximum Rate Schedule workflow?
No, the Consumer Credit/Maximum Rate filings are only available from the General Business location..
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Must I register my business and business locations with SCBOS before I submit
Consumer Credit/Maximum Rate filings?
Yes, the business must be fully registered in SCBOS before additional filings can be submitted through SCBOS. A business is fully registered when SCBOS knows about your business. SCBOS knows about your business if you have previously completed an “Add New Business” or “Add Existing Business” application.
Since applications depend on one or more specific locations, you need to be sure that all the locations you plan to register are known by SCBOS. The list of locations known by SCBOS is listed on the User Workspace: Business Locations page. If the list is incomplete, click on the “Add Location” button at the bottom of the page.
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Where do I find the Department of Consumer Affairs applications?
When you first log into SCBOS, you will see a list of businesses – generally one. Click on the business name. This will take you to User Workspace: Business Locations. The locations for the selected businesses will be displayed – generally one but there could be many. Click on the DBA name of the entry marked “General Business”. The User Workspace: Location Homepage for the general business will now be displayed. Locate the second link from the top of the page on the right hand part of the page and click “Apply for Applications/Permits/Registrations”. All the Department of Consumer Affairs applications will generally be listed.
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Can I do a renewal of licenses on SCBOS?
Yes, you can renew your SC Department of Consumer Affair filings(registrations) using SCBOS. Click here for detailed instructions.
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Who do I contact for additional information?
South Carolina Department of Consumer Affairs
3600 Forest Drive, Suite 300
P.O. Box 5246
Columbia, SC 29250-5246
Telephone: (803) 734-4253 or (803) 734-4264
Web: http://www.scconsumer.gov (forms available on web)
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What SC Department of Consumer Affairs filings(registrations) can I renew?
Type of filing Cost
|
Credit Grantor Notification |
$120 per location |
|
Maximum Rate Schedules |
$40 per location |
|
Rent-To-Own Notification |
$120 per location |
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2008 REGISTRATION RENEWAL INSTRUCTIONS
PLEASE READ BEFORE YOU BEGIN THE ONLINE FILING PROCESS
South Carolina Business One Stop (SCBOS) enables you to renew filings (registrations) from the comfort of your home or business without completing forms, writing checks, or dealing with the mail. If you are filing on line you do not have to mail in the pre-filled registration form.
Business accounts have been established for many registered businesses using your SCDCA information. This will speed the process in completing your renewal registration. Renewal fees can be paid online using the SCBOS secure and confidential payment engine which accepts credit cards and electronic funds transfers. SCBOS is free to use and there are no additional user fees added when making payment on line.
There are five easy steps to assist you in filing your registration renewal forms online through SCBOS. You will need the following information about your business:
• The SCBOS user name and password (PIN) which you may have received by mail
• The seven-digit SC Department of Consumer Affairs (SCDCA) registration number from SCDCA.
• Your Social Security Number (SSN) or Federal Employee Identification Number (FEIN)
If at any time you need assistance in your renewal application please call the SCBOS customer assistance desk at 803-898-5690 or SCDCA at 803-734.4253
To avoid penalties ALL registration renewal and fees are due at the SC Department of Consumer Affairs on or before January 31, 2008.
STEP 1
Go to www.scbos.com and log in. The login area is located on the right side of the SCBOS home page. Enter your user name and password (PIN) then click on the login button. Please note, if you are already registered with SCBOS or have registered with Dept. of Revenue online services then you already have a user name and password. If you do not have a user name and password, then click on New User and establish a user name and password. When you log in for the first time you will be asked to complete a user profile. If you need additional instructions on creating a valid user account, click here.
STEP 2
Click on Start Renewal. Under Renewal Type, select Consumer Affairs Renewal. You will see a Businesses List associated with your user name and password Select the business you want to renew. Note, if a business is not listed, click on Add New Business, or Add Existing Business. This will take you through a process to add your business to SCBOS.
STEP 3
The Consumer Affairs Renewal Wizard will welcome you to SCBOS. Enter your business registration number and select the renewals you want to file. On the Current Filings page, select your filings from the previous business year. Answer the Filing Questions.
STEP 4
Confirm the information; submit to shopping cart; checkout and pay. Visa, Master Card® and Electronic Funds Withdrawal may be used to pay. There are no additional fees to pay online
Type of filing Cost
|
Credit Grantor Notification |
$120 per location |
|
Maximum Rate Schedules |
$40 per location |
|
Rent-To-Own Notification |
$120 per location |
STEP 5
Print Receipt. Once SCDCA completes the processing of your renewal, a new registration will be sent to you via the U.S. Postal Service.
|
Contact Information:
SC Department of Consumer Affairs
Mailing Address: P.O. Box 5246, Columbia, SC 29250-5246
Physical Address: 3600 Forest Drive, Third Floor, Columbia, SC
Web site: www.scconsumer.gov
Phone: 803.734.4253
|
DON’T FORGET: To avoid penalties all registration renewal and fees are due at the SC Department of Consumer Affairs on or before January 31, 2008.
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