2006 New York Code - Contracts With Debtors; Fees.

 
    §  584-a.  Contracts with debtors; fees. Each licensee shall submit to
  the department any form of written contract it intends  to  use  between
  itself  and  such  debtor.  Such  form  contract shall, at minimum, make
  provision for the following information:
    1. a complete  list  of  the  debtor's  obligations  to  be  adjusted,
  including the name of each creditor;
    2.  the  total  fees  agreed  to  for  such  services,  including  any
  adjustments for estimated available  rebates  from  creditors,  provided
  that  nothing  in  this  subdivision  shall  require a licensee to share
  rebates with its clients;
    3. the commencement and termination date of the contract;
    4. a pro forma statement of the total fees to  be  charged,  including
  expected  available rebates from creditors, expressed as a percentage of
  the total obligations, principal and interest to be adjusted under  such
  contract;
    5.  settlement  terms  in  case  of  cancellation  of  the contract or
  prepayment of the obligations;
    6. a notice to the debtor that the  debtor  may  cancel  the  contract
  until  midnight  of  the  third  business day after the day on which the
  debtor has signed the contract; and
    7. the terms under which the payments may be made by the debtor.  Upon
  execution, a copy of such contract shall be immediately furnished to the
  debtor.  Such contract may subsequently be amended to include additional
  creditors and debtors obligations.