N.J. Admin. Code § 3:25-1.2

Current through Register Vol. 56, No. 23, December 2, 2024

Section 3:25-1.2 - Fees charged by licensed nonprofit social service and nonprofit consumer credit counseling agencies

(a) A licensee may charge a fee to cover the cost of providing debt adjustment and credit counseling.

1. The fee for debt adjustment shall not exceed one percent of the gross monthly income of the client but in no case more than $ 25.00 in any one month. This fee may be waived at the discretion of the licensee.

2. The fee that the licensee may charge a client for credit counseling services shall not exceed $ 60.00 in any one month.

(b) The licensee shall provide to the client a written statement of the fees to be charged before providing any debt adjustment or credit counseling service.

N.J. Admin. Code § 3:25-1.2

Amended by R.1992 d.323, effective 8/17/1992.
See: 24 N.J.R. 2106(a), 24 N.J.R. 2836(a).
Revised text.
Repeal and New Rule, R.1997 d.336, effective 8/18/1997.
See: 29 N.J.R. 2500(a), 29 N.J.R. 3719(a).
Section was "Debt adjustment fees".
Amended by R.2003 d.59, effective 2/3/2003.
See: 34 N.J.R. 2552(a), 35 N.J.R. 607(b).
Rewrote (a)2.
Amended by R.2008 d.203, effective 7/21/2008.
See: 40 N.J.R. 837(a), 40 N.J.R. 4311(a).
Section was "Fees charged by licensees".