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About Take Charge America

State Disclosures

Take Charge America is strongly committed to compliance with all applicable laws. Some states require that we provide certain disclosures on our website. The disclosures below are provided in compliance with these state regulations.

Arizona residents: Take Charge America, Inc. is NOT A LOAN COMPANY. 

Colorado residents: The establishment of a debt management plan may adversely affect the individual’s credit rating or credit scores.  Nonpayment of debt may lead creditors to increase finance and other charges or undertake collection activity, including litigation.

Delaware residents: The establishment of a debt management plan may adversely affect the individual’s credit rating or credit scores.  Nonpayment of debt may lead creditors to increase finance and other charges or undertake collection activity, including litigation.

Illinois residents: Take Charge America, Inc. does not lend money.

Indiana residents: Take Charge America, Inc. is a licensed Budget Service Company with the Indiana Department of Financial Institutions, Consumer Credit Division. We are located at 20620 North 19th Avenue, Phoenix, AZ 85027. We do not lend money.

Maryland residents: The Commissioner of Financial Regulation for the State of Maryland will accept any questions and complaints from Maryland residents regarding Take Charge America, Inc., License Number 14-15 at 500 North Calvert Street, Room 402, Baltimore, Maryland 21202 , phone 1-888-784-0136.

Michigan residents: Take Charge America, Inc. is licensed as a Debt Management Company by the State of Michigan, Department of Insurance and Financial Services, License #DM-0010568.

State of Michigan

DIFS- Department of Insurance and Financial Services

110 W Michigan Avenue, Suite 400

Lansing MI  48933-1070

Telephone Number (517) 373-0220 or (877) 999-6442

Sec. 13. (1) Upon establishing a debt management plan for a debtor, a licensee may charge and receive an initial fee of $25.00. However, unless 51% or more in number and dollar amount of all the debtor's creditors consent to the debt management program within 45 days of establishing the debt management plan, the fee shall be returned to the debtor and the debtor's account closed.

Sec. 14. (1) A contract between a licensee and debtor shall include all of the following:

(a) Each creditor to whom payments will be made and the amount owed each creditor.

(b) The total amount of the licensee's charges.

(c) The beginning and ending dates of the contract.

(d) The number of months and the total principal amount plus approximate interest charges required to liquidate in full the   debts, except mortgage or land contract interest payments, described in the contract.

(e) The name and address of the licensee and of the debtor.

(f) 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.

Sec. 18. (1) A licensee may charge a reasonable fee under a debt management services contract. The fees and charges of the licensee shall not exceed 15% of the amount of the debt to be liquidated during the express term of the contract. The licensee may require the debtor to make an initial payment of not more than $25.00, which is part of the fees and charges of the licensee. The initial payment may be deducted from the amount of a subsequent fee that is amortized, if any.

(2) Except for a cancellation described in subsection (3), for which a licensee may not collect the additional fee described in this subsection, in the event of cancellation or default on the performance of the contract by the debtor before its successful completion, the licensee may collect $25.00 in addition to fees and charges of the licensee previously received. This $25.00 fee is not subject to the 15% limitation on fees and charges of the licensee in subsection (1).

(3) A contract is in effect when it is signed by the licensee and the debtor and the debtor has made a payment 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.

(4) If a debtor fails to make a payment to a licensee within 60 days after the date a payment is due under a contract, the contract is considered canceled by the debtor. A debtor may file a letter of continuation of a contract even if the debtor did not make a payment within 60 days after a payment was due. All of the following apply to a letter of continuation of a contract:

(a) A debtor may file only 1 letter of continuation with a licensee for any contract.

(b) A letter of continuation must contain a detailed explanation of the reason or reasons for the missed payment or payments.

(c) A contract for which a letter of continuation that meets the requirements of this subsection is filed remains in effect and subject to cancellation for any future failure to make a payment or payments as described in this subsection.

(d) A contract between a licensee and a debtor shall clearly provide for 1 letter of continuation by a debtor.  

(e) A debtor may not file a letter of continuation with a licensee at the beginning of a contract.

(5) A licensee shall not contract for, receive, or charge a debtor an amount greater than authorized by this act. A person who 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.

Mississippi residents: Take Charge America, Inc. is a Licensed Debt Management Service Provider.

Nevada residents:  Using a debt management plan may make it harder for the individual to obtain credit.

New Jersey residents: Take Charge America, Inc. is licensed by the New Jersey Department of Banking and Insurance.

New York residents: Take Charge America, Inc. is a licensed budget planner with the New York State Department of Financial Services.

Oregon Residents: Take Charge America, Inc. is registered by the Oregon Department of Consumer and Business Services, registration no. DCA-10056.

Rhode Island residents: Establishment of a debt management plan may adversely affect the individual’s credit rating or credit scores.  Nonpayment of debt may lead creditors to increase finance and other charges or undertake collection activity, including litigation.

Tennessee residents: Using a debt management plan may make it harder for the individual to obtain credit.

Utah residents:  Using a debt management plan may make it harder for the individual to obtain credit.

Vermont residents: Take Charge America, Inc. is licensed by the Vermont Department of Banking, Insurance, Securities and Health Care Administration.

To view Take Charge America's Executive Leadership team click here.

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