Delaware Debt Settlement Laws

Debt Settlement License Registration Required:

Statute: Del. Code Ann. tit. 6, §2401A et seq.

Definitions: “Debt-management services” means services as an intermediary between an individual and 1 or more unsecured creditors of the individual for the purpose of obtaining concessions, but does not include:

(A) Legal services provided in an attorney-client relationship by an attorney licensed or otherwise authorized to practice law in this State;

(B) Accounting services provided in an accountant-client relationship by a certified public accountant licensed to provide accounting services in this State; or

(C) Financial-planning services provided in a financial planner-client relationship by a member of a financial-planning profession whose members the Attorney General, by rule, determines are:

(i) Licensed by this State;

(ii) Subject to a disciplinary mechanism;

(iii) Subject to a code of professional responsibility; and

(iv) Subject to a continuing-education requirement.