AB218,19,96 1. Be in the amount of $50,000 or other larger or smaller amount that the
7division determines is warranted by the financial condition and business experience
8of the provider, the history of the provider in performing debt-management services,
9the risk to individuals, and any other factor the division considers appropriate.
AB218,19,1210 2. Be issued by a bonding, surety, or insurance company authorized to do
11business in this state and rated at least "A" by a nationally recognized rating
12organization.
AB218,19,1413 3. Have payment conditioned upon noncompliance of the provider or its agent
14with this section.
AB218,19,2115 (c) If the principal amount of a surety bond is reduced by payment of a claim
16or a judgment, the provider shall immediately notify the division and, within 30 days
17after notice by the division, file a new or additional surety bond in an amount set by
18the division. The amount of the new or additional bond must be at least the amount
19of the bond immediately before payment of the claim or judgment. If for any reason
20a surety terminates a bond, the provider shall immediately file a new surety bond
21in the amount of $50,000 or other amount determined pursuant to par. (b).
AB218,19,2322 (d) The division or an individual may obtain satisfaction out of the surety bond
23procured pursuant to this subsection if any of the following apply:
AB218,19,2524 1. The division assesses expenses under sub. (31) (b) 1., issues a final order
25under sub. (32) (a) 2., or recovers a final judgment under sub. (32) (a) 4. or 5. or (d).
AB218,20,2
12. An individual recovers a final judgment pursuant to sub. (34) (a), (b), or (c)
21., 2., or 4.
AB218,20,63 (e) If claims against a surety bond exceed or are reasonably expected to exceed
4the amount of the bond, the division, on the initiative of the division or on petition
5of the surety, shall, unless the proceeds are adequate to pay all costs, judgments, and
6claims, distribute the proceeds in the following order:
AB218,20,87 1. To satisfaction of a final order or judgment under sub. (32) (a) 2., 4., or 5. or
8(d).
AB218,20,109 2. To final judgments recovered by individuals pursuant to sub. (34) (a), (b), or
10(c) 1., 2., or 4., pro rata.
AB218,20,1211 3. To claims of individuals established to the satisfaction of the division, pro
12rata.
AB218,20,1413 4. If a final order or judgment is issued under sub. (32) (a), to the expenses
14charged pursuant to sub. (31) (b) 1.
AB218,20,16 15(14) Requirement of good faith. A provider shall act in good faith in all
16matters under this section.
AB218,20,20 17(15) Customer service. A provider that is required to be licensed under this
18section shall maintain a toll-free communication system, staffed at a level that
19reasonably permits an individual to speak to a certified counselor or
20customer-service representative, as appropriate, during ordinary business hours.
AB218,20,25 21(16) Prerequisites for providing debt-management services. (a) Before
22providing debt-management services, a licensed provider shall give the individual
23an itemized list of goods and services and the charges for each. The list must be clear
24and conspicuous, be in a record the individual may keep whether or not the
25individual assents to an agreement, and describe all of the following:
AB218,21,2
11. The goods and services the provider offers free of additional charge if the
2individual enters into an agreement.
AB218,21,43 2. The good and services the provider offers for a charge if the individual does
4not enter into an agreement.
AB218,21,65 3. The good and services the provider offers for a charge if the individual enters
6into an agreement, using the following terminology, as applicable, and format:
AB218,21,77 Set-up fee        .................................................................................
AB218,21,8 8           dollar amount of fee
AB218,21,99 Monthly service fee    .................................................................................
AB218,21,10 10           dollar amount of fee or method of determining amount
AB218,21,1111 Settlement fee      .................................................................................
AB218,21,12 12           dollar amount of fee or method of determining amount
AB218,21,1313 Goods and services in addition to those provided in connection with a plan:
AB218,21,1414 .....................       .................................................................................
AB218,21,15 15  (item)      dollar amount or method of determining amount
AB218,21,1616 .....................       .................................................................................
AB218,21,17 17  (item)      dollar amount or method of determining amount
AB218,21,1918 (b) A provider may not furnish debt-management services unless the provider,
19through the services of a certified counselor, has satisfied all of the following:
AB218,21,2120 1. The provider provides the individual with reasonable education about the
21management of personal finance.
AB218,21,2222 2. The provider has prepared a financial analysis.
AB218,21,2423 3. If the individual is to make regular, periodic payments, the provider has
24satisfied all of the following:
AB218,21,2525 a. The provider has prepared a plan for the individual.
AB218,22,4
1b. The provider has made a determination, based on the provider's analysis of
2the information provided by the individual and otherwise available to it, that the
3plan is suitable for the individual and the individual will be able to meet the payment
4obligations under the plan.
AB218,22,75 c. The provider believes that each creditor of the individual listed as a
6participating creditor in the plan will accept payment of the individual's debts as
7provided in the plan.
AB218,22,98 (c) Before an individual assents to an agreement to engage in a plan, a provider
9shall do all of the following:
AB218,22,1210 1. Provide the individual with a copy of the analysis and plan required by par.
11(b) in a record that identifies the provider and that the individual may keep whether
12or not the individual assents to the agreement.
AB218,22,1513 2. Inform the individual of the availability, at the individual's option, of
14assistance by a toll-free communication system or in person to discuss the financial
15analysis and plan required by par. (b).
AB218,22,1816 3. With respect to all creditors identified by the individual or otherwise known
17by the provider to be creditors of the individual, provide the individual with a list of
18all of the following:
AB218,22,2019 a. Creditors that the provider expects to participate in the plan and grant
20concessions.
AB218,22,2221 b. Creditors that the provider expects to participate in the plan but not grant
22concessions.
AB218,22,2323 c. Creditors that the provider expects not to participate in the plan.
AB218,22,2424 d. All other creditors.
AB218,23,4
1(d) Before an individual assents to an agreement to engage in a plan, the
2provider shall inform the individual, in a record that contains nothing else, that is
3given separately, and that the individual may keep whether or not the individual
4assents to the agreement, of all of the following:
AB218,23,55 1. The name and business address of the provider.
AB218,23,76 2. That plans are not suitable for all individuals and the individual may ask
7the provider about other ways, including bankruptcy, to deal with indebtedness.
AB218,23,98 3. That establishment of a plan may adversely affect the individual's credit
9rating or credit scores.
AB218,23,1110 4. That nonpayment of debt may lead creditors to increase finance and other
11charges or undertake collection activity, including litigation.
AB218,23,1312 5. Unless it is not true, that the provider may receive compensation from the
13creditors of the individual.
AB218,23,1614 6. That, unless the individual is insolvent, if a creditor settles for less than the
15full amount of the debt, the plan may result in the creation of taxable income to the
16individual, even though the individual does not receive any money.
AB218,23,2017 (e) If a provider may receive payments from an individual's creditors and the
18plan contemplates that the individual's creditors will reduce finance charges or fees
19for late payment, default, or delinquency, the provider may comply with par. (d) by
20providing the following disclosure, surrounded by black lines:
AB218,23,2121 IMPORTANT INFORMATION FOR YOU TO CONSIDER
AB218,23,2422 (1) Debt-management plans are not right for all individuals, and you may ask
23us to provide information about other ways, including bankruptcy, to deal with your
24debts.
AB218,23,2525 (2) Using a debt-management plan may hurt your credit rating or credit scores.
AB218,24,1
1(3) We may receive compensation for our services from your creditors.
AB218,24,2 2     ..................................................................................
AB218,24,3 3       Name and business address of provider
AB218,24,74 (f) If a provider will not receive payments from an individual's creditors and the
5plan contemplates that the individual's creditors will reduce finance charges or fees
6for late payment, default, or delinquency, a provider may comply with par. (d) by
7providing the following disclosure, surrounded by black lines:
AB218,24,88 IMPORTANT INFORMATION FOR YOU TO CONSIDER
AB218,24,119 (1) Debt-management plans are not right for all individuals, and you may ask
10us to provide information about other ways, including bankruptcy, to deal with your
11debts.
AB218,24,1212 (2) Using a debt-management plan may hurt your credit rating or credit scores.
AB218,24,13 13     ..................................................................................
AB218,24,14 14       Name and business address of provider
AB218,24,1715 (g) If a plan contemplates that creditors will settle debts for less than the full
16principal amount of debt owed, a provider may comply with par. (d) by providing the
17following disclosure, surrounded by black lines:
AB218,24,1818 IMPORTANT INFORMATION FOR YOU TO CONSIDER
AB218,24,2019 (1) Our program is not right for all individuals, and you may ask us to provide
20information about bankruptcy and other ways to deal with your debts.
AB218,24,2121 (2) Nonpayment of your debts under our program may:
AB218,24,22 22 hurt your credit rating or credit scores;
AB218,24,23 23 lead your creditors to increase finance and other charges; and
AB218,24,24 24 lead your creditors to undertake activity, including lawsuits, to collect the
AB218,24,2525 debts.
AB218,25,2
1(3) Reduction of debt under our program may result in taxable income to you,
2even though you will not actually receive any money.
AB218,25,3 3     ..................................................................................
AB218,25,4 4       Name and business address of provider
AB218,25,5 5(17) Communication by electronic or other means. (a) In this subsection:
AB218,25,76 1. "Federal act" means the Electronic Signatures in Global and National
7Commerce Act, 15 USC 7001 to 7031.
AB218,25,98 2. "Consumer" means an individual who seeks or obtains goods or services that
9are used primarily for personal, family, or household purposes.
AB218,25,1210 (b) A provider may satisfy the requirements of sub. (16), (18), or (26) by means
11of the Internet or other electronic means if the provider obtains a consumer's consent
12in the manner provided by 15 USC 7001 (c) (1).
AB218,25,1413 (c) The disclosures and materials required by subs. (16), (18), and (26) shall be
14presented in a form that is capable of being accurately reproduced for later reference.
AB218,25,1815 (d) With respect to disclosure by means of an Internet Web site, the disclosure
16of the information required by sub. (16) (d) must appear on one or more screens that
17contain no other information and that the individual must see before proceeding to
18assent to formation of a plan.
AB218,25,2219 (e) At the time of providing the materials and agreement required by subs. (16)
20(c) and (d), (18), and (26), a provider shall inform the individual that upon electronic,
21telephonic, or written request, it will send the individual a written copy of the
22materials, and shall comply with a request as provided in par. (f).
AB218,26,523 (f) If a provider is requested, before the expiration of 90 days after a plan is
24completed or terminated, to send a written copy of the materials required by subs.
25(16) (c) and (d), (18), and (26), the provider shall send them at no charge within 3

1business days after the request, but the provider need not comply with a request
2more than once per calendar month or if it reasonably believes the request is made
3for purposes of harassment. If a request is made more than 90 days after a plan is
4completed or terminated, the provider shall send within a reasonable time a written
5copy of the materials requested.
AB218,26,86 (g) A provider that maintains an Internet Web site shall disclose all of the
7following on the home page of its Web site or on a page that is clearly and
8conspicuously connected to the home page by a link that clearly reveals its contents:
AB218,26,99 1. Its name and all names under which it does business.
AB218,26,1110 2. Its principal business address, telephone number, and electronic-mail
11address, if any.
AB218,26,1212 3. The names of its principal officers.
AB218,26,1613 (h) Subject to par. (i), if a consumer who has consented to electronic
14communication in the manner provided by 15 USC 7001 withdraws consent as
15provided in the federal act, a provider may terminate its agreement with the
16consumer.
AB218,26,2217 (i) If a provider wishes to terminate an agreement with a consumer pursuant
18to par. (h), it shall notify the consumer that it will terminate the agreement unless
19the consumer, within 30 days after receiving the notification, consents to electronic
20communication in the manner provided in 15 USC 7001 (c). If the consumer
21consents, the provider may terminate the agreement only as permitted by sub. (18)
22(a) 6. g.
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