SCS/HCS/HB 329 - This act defines "reasonable consideration" that is allowed as remuneration for administering a debt management plan. Under such plans, debt adjusters may charge $50 as a set-up fee, and the greater of $35 per month or 8% of the amount distributed monthly to creditors. Debt adjusters must provide a $100,000 bond before administering a debt management plan.
This act is similar to SB 597 (2007).
CHRIS HOGERTY