UNIFORM DEBT-MANAGEMENT SERVICES ACT (2005)

PURPOSE:
This Act provides guidance and regulation to the debt counseling industry. The Act applies to both consumer debt counseling services and debt management services. The Act is a comprehensive statute that provides rules for, among other things, registration requirements, bond requirements, disclosure requirements, and penalties for non-compliance.

ORIGIN:
Completed by the Uniform Law Commissioners in 2005.

For any further information regarding this Act, please contact
Nicole Julal or Katie Robinson at 312-450-6600.