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RSA 399-D:17 · Provisions Applicable to Debt Repayment Plans Under This Chapter

Title
XXXVI: PAWNBROKERS AND MONEYLENDERS
Chapter
399-D · DEBT ADJUSTMENT SERVICES
Status
current
Official source linked
Yes
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399-D:17 Provisions Applicable to Debt Repayment Plans Under This Chapter. –

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I.

If the debtor gives the licensee 30 days' written notice of cancellation and such licensee performed all of its contractually required services, such licensee shall be entitled to a cancellation fee of the lesser of:

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(a)

5 percent of the remaining service charges that would have been collected over the term of the debt adjustment contract; or

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(b)

$50.

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II.

If the debtor willfully defaults by failing to pay the contractually obligated payments for a period of 30 days and such licensee performed all of its contractually required services, such licensee shall be entitled to a cancellation fee of the lesser of:

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(a)

5 percent of the remaining service charges that would have been collected over the term of the debt adjustment contract; or

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(b)

$50.

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III.

The licensee shall notify the debtor's creditors or their attorneys in writing within 10 calendar days of cancellation. Source. 2016, 151:1, eff. Jan. 1, 2017.

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Source note

Source. 2016, 151:1, eff. Jan. 1, 2017.

Source history

  • 2016, 151:1, eff. Jan. 1, 2017

Related materials

Bill relationships

  • 2026 HB1207 reference · effective 2027-07-01

    t for that year. (c) From consumer credit division entities. Each entity subject to the supervision of the commissioner under the provisions of RSA 361-A, RSA 397-A, RSA 399-A, RSA 399-D, and RSA 399-G, shall be charged and shall pay such proportion of the balance applicable to the consumer credit administration division under the department's accounting unit designation as the gross revenue received fr

  • 2026 HB1207-FN reference · effective 2027-07-01

    t for that year. (c) From consumer credit division entities. Each entity subject to the supervision of the commissioner under the provisions of RSA 361-A, RSA 397-A, RSA 399-A, RSA 399-D, and RSA 399-G, shall be charged and shall pay such proportion of the balance applicable to the consumer credit administration division under the department's accounting unit designation as the gross revenue received fr