{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-2041.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-2041.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-2041.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-2041.html"}],"law_id":81637,"edition_id":1,"section_id":81637,"structure_id":14206,"section_number":"6.2-2041","catch_line":"Fee","history":"2020, c. 785.","full_text":"A\n\nFor providing debt settlement services, a licensee may charge or receive a fee totaling either (i) no more than 20 percent of the principal amount of the debt enrolled by a consumer into the licensee’s service or (ii) no more than 30 percent of the difference between the amount owed by a consumer at the time the licensee settles the debt and the amount to be paid by the consumer to satisfy the debt.B\n\nIf more than one debt is the subject of a debt settlement services agreement, the licensee may only charge or collect that proportion of the total fee allowable under clause (i) of subsection A that equals the proportion of the aggregate debt the individual settled debt represents.C\n\nA licensee shall not charge or receive any other fee or compensation from a consumer for providing debt settlement services other than the fee provided for in this section.","order_by":null,"text":{"0":{"id":292396,"text":"For providing debt settlement services, a licensee may charge or receive a fee totaling either (i) no more than 20 percent of the principal amount of the debt enrolled by a consumer into the licensee’s service or (ii) no more than 30 percent of the difference between the amount owed by a consumer at the time the licensee settles the debt and the amount to be paid by the consumer to satisfy the debt.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":292397,"text":"If more than one debt is the subject of a debt settlement services agreement, the licensee may only charge or collect that proportion of the total fee allowable under clause (i) of subsection A that equals the proportion of the aggregate debt the individual settled debt represents.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":292398,"text":"A licensee shall not charge or receive any other fee or compensation from a consumer for providing debt settlement services other than the fee provided for in this section.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":14206,"edition_id":1,"name":"Debt Settlement Services Providers","identifier":"20.1","label":"chapter","depth":3,"order_by":1,"parent_id":13060,"metadata":{},"date_created":"2026-06-26 03:47:16","date_modified":"2026-06-26 03:47:16","permalink":{"id":266731,"object_type":"structure","relational_id":14206,"identifier":"20.1","token":"6.2\/III\/20.1","url":"\/6.2\/III\/20.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13060,"edition_id":1,"name":"Other Regulated Providers of Financial Services","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:44:12","date_modified":"2026-06-26 03:44:12","permalink":{"id":265721,"object_type":"structure","relational_id":13060,"identifier":"III","token":"6.2\/III","url":"\/6.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12852,"edition_id":1,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263249,"object_type":"structure","relational_id":12852,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":76223,"structure_id":14206,"section_number":"6.2-2026","catch_line":"Definitions","url":"\/6.2-2026\/","token":"6.2\/III\/20.1\/6.2-2026","metadata":false},{"id":55395,"structure_id":14206,"section_number":"6.2-2027","catch_line":"License requirement; 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prohibited and required business methods","url":"\/6.2-2040\/","token":"6.2\/III\/20.1\/6.2-2040","metadata":false},{"id":81637,"structure_id":14206,"section_number":"6.2-2041","catch_line":"Fee","url":"\/6.2-2041\/","token":"6.2\/III\/20.1\/6.2-2041","metadata":false},{"id":66000,"structure_id":14206,"section_number":"6.2-2042","catch_line":"Advertising","url":"\/6.2-2042\/","token":"6.2\/III\/20.1\/6.2-2042","metadata":false},{"id":57456,"structure_id":14206,"section_number":"6.2-2043","catch_line":"Suspension or revocation of license","url":"\/6.2-2043\/","token":"6.2\/III\/20.1\/6.2-2043","metadata":false},{"id":85206,"structure_id":14206,"section_number":"6.2-2044","catch_line":"Cease and desist orders","url":"\/6.2-2044\/","token":"6.2\/III\/20.1\/6.2-2044","metadata":false},{"id":65724,"structure_id":14206,"section_number":"6.2-2045","catch_line":"Notice of proposed suspension or revocation","url":"\/6.2-2045\/","token":"6.2\/III\/20.1\/6.2-2045","metadata":false},{"id":64784,"structure_id":14206,"section_number":"6.2-2046","catch_line":"Civil penalties","url":"\/6.2-2046\/","token":"6.2\/III\/20.1\/6.2-2046","metadata":false},{"id":76198,"structure_id":14206,"section_number":"6.2-2047","catch_line":"Criminal penalty","url":"\/6.2-2047\/","token":"6.2\/III\/20.1\/6.2-2047","metadata":false},{"id":76935,"structure_id":14206,"section_number":"6.2-2048","catch_line":"Private right of action","url":"\/6.2-2048\/","token":"6.2\/III\/20.1\/6.2-2048","metadata":false},{"id":64822,"structure_id":14206,"section_number":"6.2-2049","catch_line":"Authority of Attorney General; referral by Commission to Attorney General","url":"\/6.2-2049\/","token":"6.2\/III\/20.1\/6.2-2049","metadata":false},{"id":83927,"structure_id":14206,"section_number":"6.2-2050","catch_line":"Violation of the Virginia Consumer Protection Act","url":"\/6.2-2050\/","token":"6.2\/III\/20.1\/6.2-2050","metadata":false}],"previous_section":{"id":56890,"structure_id":14206,"section_number":"6.2-2040","catch_line":"Licensees providing debt settlement services; prohibited and required business methods","url":"\/6.2-2040\/","token":"6.2\/III\/20.1\/6.2-2040","metadata":false},"next_section":{"id":66000,"structure_id":14206,"section_number":"6.2-2042","catch_line":"Advertising","url":"\/6.2-2042\/","token":"6.2\/III\/20.1\/6.2-2042","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-2041\/","history_text":"

This law was first created in 2020. The record of its establishment is cataloged in chapter 785<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":false,"permalink":{"id":266793,"object_type":"law","relational_id":81637,"identifier":"6.2-2041","token":"6.2\/III\/20.1\/6.2-2041","url":"\/6.2-2041\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-2041\/","token":"6.2\/III\/20.1\/6.2-2041","dublin_core":{"Title":"Fee","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-2041","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> For providing debt settlement services<\/span>, a licensee<\/span> may charge or receive a fee totaling either (i) no more than 20 percent of the principal<\/span> amount of the debt enrolled by a consumer<\/span> into the licensee<\/span>’s service or (ii) no more than 30 percent of the difference between the amount owed by a consumer<\/span> at the time the licensee<\/span> settles the debt and the amount to be paid by the consumer<\/span> to satisfy the debt. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> If more than one debt is the subject of a debt settlement services<\/span> agreement, the licensee<\/span> may only charge or collect that proportion of the total fee allowable under clause (i) of subsection A that equals the proportion of the aggregate debt the individual settled debt represents. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A licensee<\/span> shall not charge or receive any other fee or compensation from a consumer<\/span> for providing debt settlement services<\/span> other than the fee provided for in this section. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nFEE (\u00a7 6.2-2041)\n\nA. For providing debt settlement services, a licensee may charge or receive a\nfee totaling either (i) no more than 20 percent of the principal amount of the\ndebt enrolled by a consumer into the licensee’s service or (ii) no more\nthan 30 percent of the difference between the amount owed by a consumer at the\ntime the licensee settles the debt and the amount to be paid by the consumer to\nsatisfy the debt.\n\nB. If more than one debt is the subject of a debt settlement services agreement,\nthe licensee may only charge or collect that proportion of the total fee\nallowable under clause (i) of subsection A that equals the proportion of the\naggregate debt the individual settled debt represents.\n\nC. A licensee shall not charge or receive any other fee or compensation from a\nconsumer for providing debt settlement services other than the fee provided for\nin this section.\n\nHISTORY: 2020, c. 785.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}