Licencias, registros y divulgaciones estatales

Licensed by the Michigan Department of Insurance and Financial Services. License number DM0020620.

451.423 Initial fee; consent of creditor; presumption. Sec. 13.

(1) When a licensee establishes a debt management plan for a debtor, the licensee may charge and receive an initial fee of $50.00.

(2) A licensee shall attempt to obtain consent to participate in a debt management plan from at least 51%, in number or dollar amount, of the debtor’s creditors within 90 days after establishing the debt management plan. If the required consent is not received, the licensee shall notify the debtor. The debtor may close the account and direct the return or disbursement of unexpended funds.

451.424 Contract between licensee and debtor; requirements. Sec. 14.

The contract must identify participating creditors, amounts owed, charges, contract dates, obligations covered by the plan, the names and addresses of the parties, and other disclosures required for consumer protection.

451.428 Fees and cancellation rights. Sec. 18.

Fees may not exceed the limits authorized by Michigan law. The debtor has cancellation rights, and unauthorized excessive charges are prohibited.

Director’s address:
DIFS
530 W. Allegan Street, 7th Floor
Lansing, MI 48933
Teléfono: 517-284-8800
Línea gratuita: 877-999-6442