Bill > HB4141

This bill requires individuals or companies that provide debt resolution services, which are defined as programs that aim to reduce the balance of or negotiate terms for a consumer's debt with unsecured creditors, to register with the Department of Consumer and Business Services. It clarifies that these "debt resolution service providers" are distinct from "debt management service providers" who manage payments to creditors. The bill outlines specific requirements for debt resolution service providers, including detailed contract terms, limitations on fees and when they can be charged, prohibitions against certain actions like misrepresenting services or controlling consumer funds, and mandates for clear communication and record-keeping. It also establishes rules for terminating agreements and requires providers to deliver regular account statements to consumers. The bill takes effect on the 91st day after the legislative session concludes.

Business and Industry

https://olis.oregonlegislature.gov/liz/2026R1/Measures/Overview/HB4141