Best Debt Consolidation for March 2021

Upon establishing a debt management plan for a debtor, a licensee may charge and receive an initial fee of $50.00. However, unless 51% or more in number or dollar amount of all the debtor’s creditors consent to the debt management program within 90 days of establishing the debt management plan, the licensee shall provide notice to the debtor of the lack of required consent and the debtor may, at its option, close the account. If the debtor decides to close the account, any unexpended funds shall be returned to the debtor or disbursed as directed by the debtor.