House
File
2326
H-8274
Amend
House
File
2326
as
follows:
1
1.
Page
1,
after
line
19
by
inserting:
2
<
Sec.
___.
Section
533A.8,
Code
2026,
is
amended
by
adding
3
the
following
new
subsection:
4
NEW
SUBSECTION
.
10A.
If
a
debtor
who
has
contracted
with
5
a
licensee
to
settle
a
debt
has
executed
a
debt
settlement
6
agreement
with
a
creditor
to
settle
such
debt
and
has
made
at
7
least
one
payment
pursuant
to
that
agreement,
and
the
debtor
8
subsequently
fails
to
complete
the
payment
terms
required
under
9
that
debt
settlement
agreement,
the
licensee
shall
attempt
to
10
renegotiate,
resolve,
reduce,
or
otherwise
alter
the
terms
of
11
the
debt
with
the
creditor
and
shall
not
request
or
receive
12
an
additional
fee
from
the
debtor
for
any
additional
debt
13
management
service
provided
by
the
licensee
for
that
debt.
14
This
subsection
does
not
prohibit
a
licensee
from
requesting
15
or
receiving
payment
of
any
outstanding
balance
of
the
fee
16
required
by
the
contract
between
the
licensee
and
debtor
for
17
that
debt.
>
18
2.
Page
2,
by
striking
line
9
and
inserting
<
amount,
not
19
to
exceed
thirty
percent
of
the
total
amount
of
debt
enrolled
20
by
the
debtor
at
the
time
of
enrollment
in
the
debt
management
21
program.
The
individual
debt
amount
and
the
entire
debt
22
amount
>
23
3.
Page
2,
by
striking
lines
13
and
14
and
inserting:
24
<
Sec.
___.
Section
533A.9,
subsection
5,
Code
2026,
is
25
amended
by
striking
the
subsection
and
inserting
in
lieu
26
thereof
the
following:
27
5.
a.
Notwithstanding
any
provision
of
this
section
to
28
the
contrary,
the
total
aggregate
fee
or
consideration
charged
29
by
a
licensee
for
all
debt
management
services
provided
by
the
30
licensee
to
a
debtor
shall
not
exceed
thirty
percent
of
the
31
total
amount
of
debt
enrolled
by
the
debtor
at
the
time
of
32
enrollment
in
the
debt
management
program.
33
b.
A
licensee
may
assess
and
collect
the
fee
for
debt
34
management
services
on
a
per-debt
basis
as
a
debt
is
35
-1-
HF
2326.3695
(2)
91
nls/ko
1/
2
#1.
#2.
#3.
renegotiated,
settled,
reduced,
or
otherwise
altered
in
a
1
manner
consistent
with
this
section
and
applicable
federal
2
law.
>
3
4.
Page
2,
before
line
15
by
inserting:
4
<
Sec.
___.
Section
533A.9,
Code
2026,
is
amended
by
adding
5
the
following
new
subsection:
6
NEW
SUBSECTION
.
6.
If
a
debt
settlement
agreement
between
a
7
debtor
and
a
creditor
to
settle
a
debt
provides
for
the
debtor
8
to
make
more
than
one
payment
to
the
creditor,
the
licensee
9
shall
request
or
receive
payment
from
the
debtor
of
any
fee
for
10
debt
management
services
provided
with
respect
to
that
debt
11
incrementally
over
not
less
than
one
quarter
of
the
length
of
12
the
debtor’s
period
of
repayment
to
such
creditor.
>
13
5.
By
renumbering
as
necessary.
14
______________________________
LAWLER
of
Johnson
-2-
HF
2326.3695
(2)
91
nls/ko
2/
2
#4.
#5.