Relating to debt resolution services; prescribing an effective date.

Summary

The bill creates a licensing system for anyone who negotiates with a consumer’s creditors or manages consumer debt payments. Providers must register with the Department of Consumer and Business Services, post a $10,000‑$50,000 surety bond, keep detailed records, and give consumers clear written disclosures about services and fees. It also gives the department enforcement authority and sets consumer rights to terminate agreements and receive regular account statements.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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