Uniform Debt-Management Services Act

All providers of debt management services who wish to serve clients residing in the state of Utah are required to be registered with the Utah Division of Consumer Protection prior to providing services.

Debt management service providers are companies that offer to help a consumer get out of debt quicker through one or more of the following:  negotiating lower interest rates on credit balances, forgiveness of late fees and other penalties, reduction of principle balances.

Aside from helping a consumer obtain the concessions mentioned previously, a debt-management service provider should also provide the consumer with education and information about the wise use of credit and the benefits of budgeting.

• The maximum monthly fee a debt-management service provider can charge is currently the lesser of: $10 x number of current creditors or $50.
   
• The maximum one-time account setup fee is $50 unless the service provider believes it will be able to get a reduction in principle credit balances on behalf of the customer.
   
• The maximum fee for credit counseling is $100 and should be free (or refunded if already paid) if the consumer agrees to a debt management plan within 90 days.

Licensed Providers
List of Approved Providers

Applications and Instructions
Debt Management Services Permit Application
    - Permit Application Instructions
Approved Accreditation Programs and Organizations

Statute and Rules
Uniform Debt-Management Services Act, U.C.A. § 13-42
Uniform Debt-Management Services Act Rules, U.A.C. § R152-42

Additional Resources
National Foundation for Credit Counseling - www.nfcc.org
Association of Independent Consumer Credit Counseling Agencies - www.aiccca.org

For additional information, or if you have questions, comments or complaints, please contact the Division using the information below.

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