{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-2041.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-2041.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-2041.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-2041.html"}],"law_id":374083,"edition_id":2,"section_id":374083,"structure_id":53199,"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&#8217;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.\n\nB\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.\n\nC\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.\n\n","order_by":null,"text":{"0":{"id":1396476,"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&#8217;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":1396477,"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":1396478,"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":53199,"edition_id":2,"name":"Debt Settlement Services Providers","identifier":"20.1","label":"chapter","depth":3,"order_by":8,"parent_id":53187,"metadata":{"child_laws":25,"child_structures":0},"date_created":"2026-08-02 03:12:48","date_modified":"2026-08-02 12:28:08","permalink":{"id":1493733,"object_type":"structure","relational_id":53199,"identifier":"20.1","token":"6.2\/III\/20.1","url":"\/6.2\/III\/20.1\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53187,"edition_id":2,"name":"Other Regulated Providers of Financial Services","identifier":"III","label":"subtitle","depth":2,"order_by":3,"parent_id":53152,"metadata":{"child_laws":332,"child_structures":12},"date_created":"2026-08-02 03:12:17","date_modified":"2026-08-02 12:28:07","permalink":{"id":1492723,"object_type":"structure","relational_id":53187,"identifier":"III","token":"6.2\/III","url":"\/6.2\/III\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53152,"edition_id":2,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":10,"parent_id":null,"metadata":{"child_laws":961,"child_structures":89},"date_created":"2026-08-02 03:11:41","date_modified":"2026-08-02 12:27:53","permalink":{"id":1490251,"object_type":"structure","relational_id":53152,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":374066,"structure_id":53199,"section_number":"6.2-2026","catch_line":"Definitions","url":"\/6.2-2026\/","token":"6.2\/III\/20.1\/6.2-2026","metadata":false},{"id":374067,"structure_id":53199,"section_number":"6.2-2027","catch_line":"License requirement; exceptions","url":"\/6.2-2027\/","token":"6.2\/III\/20.1\/6.2-2027","metadata":false},{"id":374068,"structure_id":53199,"section_number":"6.2-2028","catch_line":"Application for license; form; content; fee","url":"\/6.2-2028\/","token":"6.2\/III\/20.1\/6.2-2028","metadata":false},{"id":374069,"structure_id":53199,"section_number":"6.2-2029","catch_line":"Bond required","url":"\/6.2-2029\/","token":"6.2\/III\/20.1\/6.2-2029","metadata":false},{"id":374071,"structure_id":53199,"section_number":"6.2-2030","catch_line":"Investigation of applications","url":"\/6.2-2030\/","token":"6.2\/III\/20.1\/6.2-2030","metadata":false},{"id":374072,"structure_id":53199,"section_number":"6.2-2031","catch_line":"Qualifications","url":"\/6.2-2031\/","token":"6.2\/III\/20.1\/6.2-2031","metadata":false},{"id":374073,"structure_id":53199,"section_number":"6.2-2032","catch_line":"Licenses; places of business; changes","url":"\/6.2-2032\/","token":"6.2\/III\/20.1\/6.2-2032","metadata":false},{"id":374074,"structure_id":53199,"section_number":"6.2-2033","catch_line":"Acquisition of control; application","url":"\/6.2-2033\/","token":"6.2\/III\/20.1\/6.2-2033","metadata":false},{"id":374075,"structure_id":53199,"section_number":"6.2-2034","catch_line":"Retention of books, accounts, and records; responding to Bureau","url":"\/6.2-2034\/","token":"6.2\/III\/20.1\/6.2-2034","metadata":false},{"id":374076,"structure_id":53199,"section_number":"6.2-2035","catch_line":"Annual report","url":"\/6.2-2035\/","token":"6.2\/III\/20.1\/6.2-2035","metadata":false},{"id":374077,"structure_id":53199,"section_number":"6.2-2036","catch_line":"Other reporting requirements","url":"\/6.2-2036\/","token":"6.2\/III\/20.1\/6.2-2036","metadata":false},{"id":374078,"structure_id":53199,"section_number":"6.2-2037","catch_line":"Investigations; examinations","url":"\/6.2-2037\/","token":"6.2\/III\/20.1\/6.2-2037","metadata":false},{"id":374079,"structure_id":53199,"section_number":"6.2-2038","catch_line":"Annual fees","url":"\/6.2-2038\/","token":"6.2\/III\/20.1\/6.2-2038","metadata":{"court_decisions":""}},{"id":374080,"structure_id":53199,"section_number":"6.2-2039","catch_line":"Regulations","url":"\/6.2-2039\/","token":"6.2\/III\/20.1\/6.2-2039","metadata":false},{"id":374082,"structure_id":53199,"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},{"id":374083,"structure_id":53199,"section_number":"6.2-2041","catch_line":"Fee","url":"\/6.2-2041\/","token":"6.2\/III\/20.1\/6.2-2041","metadata":{"court_decisions":""}},{"id":374084,"structure_id":53199,"section_number":"6.2-2042","catch_line":"Advertising","url":"\/6.2-2042\/","token":"6.2\/III\/20.1\/6.2-2042","metadata":false},{"id":374085,"structure_id":53199,"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":374086,"structure_id":53199,"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":374087,"structure_id":53199,"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":374088,"structure_id":53199,"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":374089,"structure_id":53199,"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":374090,"structure_id":53199,"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":374091,"structure_id":53199,"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":374092,"structure_id":53199,"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":374082,"structure_id":53199,"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":374084,"structure_id":53199,"section_number":"6.2-2042","catch_line":"Advertising","url":"\/6.2-2042\/","token":"6.2\/III\/20.1\/6.2-2042","metadata":false},"metadata":{"court_decisions":""},"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-2041\/","history_text":"<p>This law was first created in 2020. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?201+ful+CHAP0785\">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":[{"id":374082,"section_number":"6.2-2040","catch_line":"Licensees providing debt settlement services; prohibited and required business methods","order_by":null,"url":"\/6.2-2040\/"}],"refers_to":false,"permalink":{"id":1493795,"object_type":"law","relational_id":374083,"identifier":"6.2-2041","token":"6.2\/III\/20.1\/6.2-2041","url":"\/6.2-2041\/","edition_id":2,"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<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> For providing <span class=\"dictionary\">debt settlement services<\/span>, a <span class=\"dictionary\">licensee<\/span> may charge or receive a fee totaling either (i) no more than 20 percent of the <span class=\"dictionary\">principal<\/span> amount of the debt enrolled by a <span class=\"dictionary\">consumer<\/span> into the <span class=\"dictionary\">licensee<\/span>&#8217;s service or (ii) no more than 30 percent of the difference between the amount owed by a <span class=\"dictionary\">consumer<\/span> at the time the <span class=\"dictionary\">licensee<\/span> settles the debt and the amount to be paid by the <span class=\"dictionary\">consumer<\/span> to satisfy the debt. <a id=\"paragraph-1396476\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-2041\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B\"><p><span class=\"prefix-number\">B.<\/span> If more than one debt is the subject of a <span class=\"dictionary\">debt settlement services<\/span> agreement, the <span class=\"dictionary\">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. <a id=\"paragraph-1396477\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-2041\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"C\"><p><span class=\"prefix-number\">C.<\/span> A <span class=\"dictionary\">licensee<\/span> shall not charge or receive any other fee or compensation from a <span class=\"dictionary\">consumer<\/span> for providing <span class=\"dictionary\">debt settlement services<\/span> other than the fee provided for in this section. <a id=\"paragraph-1396478\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-2041\/#C\"><i class=\"fa fa-link\"><\/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&#8217;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":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}