Securities Franchises Off-Exchange Commodities Investment and Financial Services
Independent Escrows Consumer and Commercial Finance Lending Residential Mortgage Lending
SACRAMENTO 95814-4052
SAN FRANCISCO 94102-5303
LOS ANGELES 90013-2344
SAN DIEGO 92101-3697
1515 K STREET, SUITE 200
1390 MARKET STREET
320 WEST 4TH STREET
1350 FRONT STREET
(916) 445-7205
(415) 557-3787
(213) 576-7500
(619) 525-4233
1-866-ASK-CORP
www.corp.ca.gov
1-866-275-2677
STATE OF CALIFORNIA -- BUSINESS, TRANSPORTATION AND HOUSING AGENCY
GRAY DAVIS, Governor
DEPARTMENT OF CORPORATIONS
California’s Investment and Financing Authority
DEMETRIOS A. BOUTRIS
California Corporations Commissioner
Sacramento, California
IN REPLY REFER TO:
FILE NO: Alpha
December 31, 2002
RE: A Study of the Consumer Credit Counseling Industry in California
To Consumer Credit Counseling Organizations that may be engaging in business in
California:
The California Department of Corporations (“Department”) seeks your assistance with a
study of the consumer credit counseling industry in California regarding the
establishment of fees for debt management plans and debt settlement plans. The
Department is currently conducting a survey of consumer credit counseling
organizations and debtors for the purpose of this study, and requests your participation
in the survey. The Department requests that the enclosed survey of consumer credit
counseling organizations be returned no later than January 31, 2003.
In addition, the Department requests that you make the enclosed “Survey of Debtors”
available to debtors using your services.
By way of background, the California Legislature has directed the Department to
conduct this study in AB 2293 (Liu, Chap. 779, Stats. 2002). AB 2293 substantially
amends the requirements for the exemption from prorater licensing under the Check
Sellers, Bill Payers and Proraters Law (the “CSBPPL,” California Financial Code
Section 12000, et seq.) for specified nonprofit consumer credit counseling
organizations, and add