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LSS Financial Counseling Service is an accredited and licensed credit counseling and debt management service provider.
The following information, policies and legal disclosures are outlined below:Statement of Counseling ServicesClient Bill of RightsComplaint Resolution PolicySchedule of FeesState Disclosures
Since 1987, LSS Financial Counseling has helped people achieve financial peace of mind through full service, thoughtful, and trustworthy counseling. To ensure that you have the information you need to make an informed choice about your options, this Statement of Counseling Services outlines important information you need to know about our organization and services.
We pledge that our clients have the right:
We are committed to providing you with high quality professional services. However, if you are not satisfied with the services provided or if you want to make a complaint, we ask that you follow these guidelines:
LSS Financial Counseling collects fees for some services.
Note: While these fees will apply in most circumstances, no one will be denied services for inability to pay. Some services, like bankruptcy pre-filing counseling and bankruptcy pre-discharge education, have a set standard for waiver of fees. For all other services, if a client is unable to pay, counseling and administration staff should consult a manager for clarification.
Debt Management Program (DMP)
DMP Set-up FeeDMP Credit Report ReviewDMP Monthly Service Fee
Reverse Mortgage Counseling - All Other States
Residents of California Complaints related with LSS Financial Counseling may be directed to the California Department of Corporations. This nonprofit community service organization has adopted best practices for debt management plans and debt settlement plans and a copy will be provided upon request.
Residents of Illinois LSS Financial Counseling does not lend money. Except in the case of violations of Illinois law, willful misconduct or grow negligence by LSS Financial Counseling, I shall hold LSS harmless from any claim, suite, action or demand by any creditor or person arising out of, or connected with, its advice or counseling, or the establishing of the DMP.
Residents of Maryland The Commissioner of Financial Regulation for the State of Maryland will accept any questions and complaints from Maryland residents regarding Lutheran Social Service of Minnesota d/b/a LSS Financial Counseling, License Number 14-69, at 500 N. Calvert St., Room 402, Baltimore, MD 21202. Phone: 1-888-784-0136.
Residents of Michigan Licensed by the Department of
Insurance and Financial ServicesLicense #DM-0017139Sec. 13.(1) When a licensee establishes a debt management plan for a
debtor, the licensee may charge and receive an initial fee of $50.00.(2) A licensee shall attempt to obtain consent to participate in a debt
management plan from at least 51%, in number or dollar amount, of the debtor's
creditors within 90 days after establishing the debt management plan. If the
required consent is not actually received by the licensee, the licensee shall
provide notice to the debtor of the lack of required consent and the debtor
may, at its option, close the account. If the debtor decides to close the
account, any unexpended funds shall be returned to the debtor or disbursed as
directed by the debtor.Section 14(1) A contract between a licensee and debtor shall include all of
the following:(a) Each creditor to which payments will be made and the amount
owed each creditor. A licensee may rely on records of the debtor and other
information available to it to determine the amount owed to a creditor.(b) The total amount of the licensee's charges.(c) The beginning and termination dates of the contract.(d) The principal amount and approximate interest charges of the
debtor's obligations to be paid under the debt management plan.(e) The name and address of the licensee and of the debtor.(f) Any other provisions or disclosures that the director
determines are necessary for the protection of the debtor and the proper
conduct of business by a licensee.Section 18(1) In addition to the fee described in section 13(1), a licensee
may charge a reasonable fee for providing debt management services under a debt
management plan. The fee under this subsection shall not exceed 15% of the
amount of the debt to be liquidated during the express term of the plan.(2) A licensee may offer a debtor the option to purchase credit
reports or educational materials and products, and charge a fee to the debtor
if the debtor elects to purchase any of those items from the licensee. Fees
charged under this subsection are not subject to the 15% limitation on fees
described in subsection (1).(3) Except for a cancellation described in subsection (4), in the
event of cancellation of or default in the performance of the contract by the
debtor before its successful completion, a licensee may collect $25.00 in
addition to any fees and charges of the licensee previously received by the
licensee. This $25.00 fee is not subject to the 15% limitation on fees and
charges under subsection (1).(4) A contract is in effect when it is signed by the licensee and
the debtor and the debtor has made a payment of any amount to the licensee. The
debtor has the right to cancel the contract until 12 midnight of the third
business day after the first day the contract is in effect by delivering
written notice of cancellation to the licensee. A cancellation described in
this section is not subject to, and a licensee shall not collect, the fee
described in subsection (3).(5) If a debtor fails to make a payment of any amount to a
licensee within 60 days after the date a payment is due under a contract, the
licensee may, in its discretion, cancel the debt management contract if it
determines that the plan is no longer suitable for the debtor, the debtor fails
to affirmatively communicate to the licensee the debtor's desire to continue
the plan, or the creditors of the debtor refuse to continue accepting payments
under the plan.(6) A licensee shall not contract for, receive, or charge a debtor
an amount greater than authorized by this act. A person that violates this
subsection, except as the result of an inadvertent clerical or computer error,
shall return to the debtor the amount of the payments received from or on
behalf of the debtor and not distributed to creditors, and, as a penalty, an
amount equal to the amount overcharged.Department
of Insurance and Financial Services
530 W. Allegan Street, 7th Floor
Lansing, MI 48933
517.284.8800 or 877.999.6442 (toll-free)
LSS Financial Counseling is a service of Lutheran Social Service of Minnesota, which serves all people and all incomes regardless of race, color, creed, religion, national origin, sex, sexual orientation, disability or age.
LSS Financial Counseling | 424 West Superior St. Suite 600, Duluth, MN 55802 | 888.577.2227