PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Congressional Research Service
Version 00 · Introduced in House · Oct 17, 2003
Debt Counseling, Debt Consolidation, and Debt Settlement Practices Improvement Act of 2003 - Prohibits an organization that engages in debt counseling, debt consolidation, or debt settlement from engaging in specified unfair and deceptive practices including: (1) unreasonable disclosure of information to third parties regarding amounts owed by any consumer; (2) undisclosed relationship between a debt counseling organization and a debt consolidation or debt settlement organization; (3) diversion of periodic payments from creditor to debt settlement organization; and (4) payment in advance of full performance of service.
Requires a written, dated contract signed by the consumer as a prerequisite to services provided by any organization offering debt counseling, debt consolidation, or debt settlement.
Prescribes contract terms. Establishes the consumer right to cancel such contract.
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Declares void and unenforceable any waiver by the consumer of the protections of this Act.
Requires registration with the Secretary of the Treasury of any debt counseling, debt consolidation, or debt settlement organization.
Establishes civil liability for non-compliance with this Act.
Grants the Federal Trade Commission and the States enforcement powers to implement this Act.
Prohibits any requirement or prohibition from being imposed under the laws of any State with respect to any subject matter regulated under this Act.
People & committees
Rep. Carson, Julia [D-IN-7] · D–IN
Legislative record
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Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 18, 2025. Consult Congress.gov for the current record.
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