MO HB1763

Repeals existing sections 425.010 through 425.040 and enacts 42 new sections (425.050-425.132) establishing comprehensive regulation of debt-management services providers in Missouri.

Requires debt-management service providers to register with the Attorney General and meet strict requirements including bonding ($50,000 minimum), insurance ($250,000), accreditation, and certified counselors.

Establishes detailed disclosure requirements for providers including itemized fees, financial analysis, payment schedules, creditor lists, and standardized warnings about credit impacts, tax consequences, and alternative options like bankruptcy.

Limits provider fees to specific amounts: setup fees up to $50 or 4% of debt, monthly service fees up to $10 per creditor (maximum $50/month), and settlement fees not exceeding 30% of debt reduction, with restrictions on compensation from creditors.

Provides consumers rights to cancel agreements within 3 business days, terminate at any time with refund of unexpended funds, and pursue civil remedies including damages up to $5,000 and attorney's fees for provider violations.