Debt Management Services (DMS) helps federal agencies and state governments collect debts (the money owed to them). Applicants and licensees are expected to be aware of and comply with the Maryland Debt Management Services Act and any other applicable state or federal statutes, regulations and regulations. In May 2002, the U.S. Department of the Treasury designated the Program Support Center as a debt collection center.
Debt management services provide information and guidance for all debt collection programs and services. A Debt Management Services company periodically receives funds from a consumer under a consumer agreement for the purpose of distributing one or more payments to one or more creditors of the consumer in full or partial payment of an obligation. The Attorney General of the State of Delaware is responsible for issuing licenses, vetting providers of debt management services, and enforcing the UDMSA. The Debt Collection Center has provided debt collection services to client agencies since it was established in 1995.Customers with hearing problems can use the Federal Relay Service by dialing 800-877-8339 to contact a Communications Assistant (CA) who will dial the toll-free number.
ORS 697,707 states that certain disclosures should be made to consumers and describes what should be included in disclosures based on the type of debt management service provided. TOP cannot arrange for you to pay your debt, discuss your debt with you, or return your money to you. Consumers are encouraged to consider the information in the link below when making decisions about debt management services. A separate branch license is required for each branch of any person providing debt management services (defined in Md.
Debt management services include debt settlement or consolidation, credit repair, mortgage loan modifications or short sale negotiations and budget advice. Licensing applicants as providers of debt management services are encouraged to review the entire UDMSA and consult with legal counsel.