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DE HB232

Bill

Official Source

Status

Passed

10/5/2009

Primary Sponsor

William Carson

Click for details

Origin

House of Representatives

145th General Assembly

AI Summary

  • Amends § 2402A(9) of Title 6 of the Delaware Code by inserting the word "unsecured" between "more" and "Creditors" in the definition of debt-management services
  • Clarifies that the Debt Management Services Act regulates providers who negotiate terms or concessions related to an individual's unsecured debt
  • Distinguishes debt management services from mortgage loan modification services, which remain subject to the "Mortgage Rescue Fraud Protection Act" in 6 Del. C. Chapter 24B
  • Excludes businesses offering to negotiate modification of mortgage loans on behalf of individuals with homes in foreclosure from debt management services regulation

Legislative Description

An Act To Amend Title 6 Of The Delaware Code Relating To Debt Management Services.

Last Action

Signed by Governor

10/5/2009

Committee Referrals

Economic Development/Banking/Insurance/Commerce6/16/2009

Full Bill Text

No bill text available