Section R. 451.1239 - Budget analysisRule 19.
(1) A copy of the budget analysis required under section 12 of the act, MCL 451.422, must be retained in the debtor's file for a period of 6 years after the last transaction.(2) The budget analysis must be signed by a certified counselor of the firm who participated in the preparation of the analysis.(3) The budget analysis must identify the type and amount of each debtor's obligation by providing an adequate general description. Adequate general descriptions include "credit card," "unsecured loan," "vehicle loan," "mortgage loan," or other terms similarly identifying the type of debtor's obligation. The terms "other," "miscellaneous," or "generic" are not adequate general descriptions.Mich. Admin. Code R. 451.1239
1979 AC; 2020 AACS; 2024 MR 12, Eff. 7/1/2024