Debt management service provider registration information

Companies that offer debt management services are required to be registered with the Department of Consumer and Business Services. Debt management services include debt settlement, some loan modification activities, credit repair, debt proration and financial education programs.

Registration requirements include:

• completed application
• copy of agreement and disclosures
• $25,000 surety bond
• sample budget worksheet
• $350 application fee

Depending on when the application is received, the debt management registration is valid for up to two years and will expire on December 31 of the year following the year it is issued. The registration must be renewed by December 31 every two years thereafter. The renewal fee is $350 for two years.

The application form is available in both Word and PDF formats.

If you have any questions, please contact Mike McCord or Debbie Myers.