Vermont § 2759 Contract with debtor

Vermont Statutes

§ 2759 — Contract with debtor

Vermont § 2759

Title 8Title 8: Banking and Insurance

Ch. 83Chapter 083: Debt Adjusters

This text of Vermont § 2759 (Contract with debtor) is published on Counsel Stack Legal Research, covering Vermont primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Vt. Stat. Ann. tit. 8, § 2759 (2026).

Text

(a)Prior to taking any fee or receiving any compensation, either directly or indirectly, or payment of any sum of money by the debtor, each licensee shall make a written contract between the licensee and the debtor, which contract shall be in such form and shall contain such conditions as the Commissioner shall have approved in writing prior to the use of such contract, and the licensee shall immediately furnish the debtor with a true copy of the contract.

(b)In addition to such other items as the Commissioner may require, the contract shall:

(1)fully disclose all services to be provided;

(2)fully disclose all fees to be charged to the debtor;

(3)disclose that debt adjustment plans are not suitable for all debtors;

(4)if applicable, disclose that creditors may compensate the licensee

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Prior to taking any fee or receiving any compensation, either directly or indirectly, or payment of any sum of money by the debtor, each licensee shall make a written contract between the licensee and the debtor, which contract shall be in such form and shall contain such conditions as the Commissioner shall have approved in writing prior to the use of such contract, and the licensee shall immediately furnish the debtor with a true copy of the contract.
(b) In addition to such other items as the Commissioner may require, the contract shall:
(1) fully disclose all services to be provided;
(2) fully disclose all fees to be charged to the debtor;
(3) disclose that debt adjustment plans are not suitable for all debtors;
(4) if applicable, disclose that creditors may compensate the licensee;
(5) if applicable, disclose that secured debt is not covered by the contract; and
(6) disclose a list of debts covered by the contract and the interest rate of those debts at the time. (Added 1969, No. 204 (Adj. Sess.), eff. March 23, 1970; amended 2003, No. 81 (Adj. Sess.), § 1; 2009, No. 137 (Adj. Sess.), § 3.)