Office of the Commissioner of Financial Regulation

 

Debt Settlement Services Provider

 

IMPORTANT UPDATE JUNE 1, 2016

Senate Bill 741/House Bill 1022, the Maryland Debt Settlement Services Act (the Act), was passed by the General Assembly of Maryland in the 2011 legislative session and signed into law as Chapter 281 by the Governor in May, 2011. The Act was set to expire or “sunset” on June 30, 2016. The General Assembly of Maryland, in the 2016 legislative session, repealed the “sunset” provision via Senate Bill 471/House Bill 1450 and it was signed into law by the Governor. As a result, all debt settlement services providers must continue to be registered. In addition, on or before March 15th of every year, each debt settlement services provider that is registered with the Commissioner shall report on the debt settlement services business that the registrant conducted in Maryland during the preceding calendar year on a form prescribed by the Commissioner.

 

Quick Links

 

Featured Information

Maryland Debt Settlement Services Providers Registration Advisory - June 9, 2016


Applications and Forms (download Word viewer for free)

Maryland Debt Settlement Services Provider Registration Description (Word)
Maryland Debt Settlement Services Provider New Registration Checklist (Word)
Maryland Debt Settlement Services Provider Renewal Registration Checklist (Word)
Maryland Debt Settlement Services Provider New and Renewal Registration Form (Word)
Debt Settlement Services Provider Annual Report - DUE ON OR BEFORE MARCH 15th (Report of Maryland Debt Settlement Services for Previous Calendar Year Required to be Filed with the Office of the Commissioner of Financial Regulation) (Excel)
Instructions for Debt Settlement Services Provider Annual Report (Word)
MD Debt Settlement Services Providers Surety Bond Form (Word)
Update Licensing Contact Information (Word)


Laws and Rules

Registrants and applicants are expected to be knowledgeable about and in compliance with Maryland Code Annotated, Financial Institutions § 12-1001, et. seq., and Maryland Code Annotated, Commercial Law § 13-301, et. seq. and any other applicable State or Federal statutes and regulations.

Note: To access the Maryland Code Annotated, from the link below, select the “Maryland Code” folder, then select the individual folders or links provided to delve into the volumes, chapters, and/or sections of the publication.

Maryland Code Annotated, Financial Institutions § 12-1001 et seq. (Maryland Debt Settlement Services Act)
Maryland Code Annotated, Commercial Law § 13-301 et seq. (Unfair or Deceptive Trade Practice)

 
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