205 ILCS 665/11

Current through Public Act 103-1056
Section 205 ILCS 665/11 - Contracts, books, records and contract cancellation

Each debt management service provider shall furnish to the Secretary , when requested, a copy of the contract entered into between the debt management service provider and the debtor. The debt management service provider shall furnish the debtor with a copy of the written contract, at the time of execution, which shall set forth the charges, if any, agreed upon for the services of the debt management service provider .

Each debt management service provider shall maintain records and accounts which will enable any debtor contracting with the debt management service provider , at any reasonable time, to ascertain the amounts paid to creditors of the debtor. A statement showing the total amount received and the total disbursements to each creditor shall be furnished by the debt management service provider to any individual within seven days of a request therefor by the said debtor. Each debt management service provider shall issue a receipt for each payment made by the debtor at a debt management service provider's office. Each debt management service provider shall prepare and retain in the file of each debtor a written analysis of debtor's income and expenses to substantiate that the plan of payment is feasible and practical.

205 ILCS 665/11

Amended by P.A. 096-1420,§ 905, eff. 8/3/2010.
P.A. 90-545, eff. 1-1-98.