2011 Maryland Debt Settlement Services Provider Consumer Activity Report Summary
If you intend to conduct debt settlement services in the State of Maryland, you may be required to register with
the Office of the Commissioner of Financial Regulation ("Commissioner").
Additionally, on or before March 15, 2012 and ending with March 15, 2014, 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. Please refer to the Maryland
Debt Settlement Services Act, Maryland Code Annotated, Financial Institutions § 12-1001, et. seq.
IMPORTANT UPDATE - February 5, 2013
Pursuant to Section 2 of Chapter 281 of the Acts of 2011, registered debt settlement providers are required to provide data and other information to
the Commissioner of Financial Regulation. The annual reports cover the business conducted by the Registrants during the immediately preceding year.
Industry participants have raised questions about the utility of the summary data required as it includes data contracts entered into prior to the
effective date of the amendments to the FTC's Telemarketing Sales Rule on October 27, 2010. To maximize the utility of the data gathered, Registrants
are required to submit the summary information segmented into data for contracts entered into before (Section B) and after (Section C) the effective date
of the amendments to the FTC's Telemarketing Sales Rule.
THE 2014 SUBMISSION IS DUE ON OR BEFORE MARCH 15, 2014.