| (1) | An agreement shall:
| (b) | be dated and signed by the provider and the individual; |
| (c) | include the name of the individual and the address where the individual resides; |
| (d) | include the name, business address, and telephone number of the provider; |
| (e) | be delivered to the individual immediately upon formation of the agreement; and |
| (f) | disclose:
| (i) | the services the provider will provide; |
| (ii) | the amount, or method of determining the amount, of all fees, individually itemized, the individual will pay; |
| (iii) | the schedule of payments to be made by or on behalf of the individual, including the amount of each payment, the date on which each payment is due, and an estimate of the date of the final payment; |
| (iv) | if a plan provides for regular periodic payments to creditors:
| (A) | each creditor of the individual to which the provider will make payment, the amount owed to each creditor, and any concessions the provider reasonably believes each creditor will offer; |
| (B) | the schedule of expected payments to each creditor, including the amount of each payment and the date on which the provider will make the payment; |
| (C) | each creditor that the provider believes will not participate in the plan and to which the provider will not direct payment; and |
| (D) | that the provider may terminate the agreement for good cause, upon return of unexpended money of the individual; |
|
| (v) | if a plan contemplates the settlement of the individual's debt for less than the principal amount of the debt, an estimate of:
| (A) | the duration of the plan based on all enrolled debts; |
| (B) | the length of time before the individual may reasonably expect a settlement offer; and |
| (C) | the amount of savings needed to accrue before the individual may reasonably expect a settlement offer, expressed as either a dollar amount or a percentage, for each enrolled debt; |
|
| (vi) | how the provider will comply with the provider's obligations under Subsection 13-42-127(1); |
| (vii) | that the individual may terminate the agreement at any time by giving written or electronic notice, and that, if notice of termination is given, the individual will receive all unexpended money that the provider or the provider's designee receives from or on behalf of the individual for payment of a credit and, except to the extent they have been earned, the provider's fees; |
| (viii) | that the individual may contact the division with any questions or complaints regarding the provider; and |
| (ix) | the address, telephone number, and email address or website of the division. |
|
|
