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.

Kansas residents: Take Charge America, Inc. is registered by the Office of the State Bank Commissioner as a Credit Services Organization, No. CSO. 0000010.

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
Department of Insurance and Financial Services
530 W Allegan St., 7th Floor
Lansing MI 48933-1521
(877) 999-6442

Sec. 13.
(1) When a licensee establishes a debt management plan for a debtor, the licensee may charge and receive an initial fee of $50.00.
(2) A licensee shall attempt to obtain consent to participate in a debt management plan from at least 51%, in number or dollar amount, of the debtor’s creditors within 90 days after establishing the debt management plan. If the required consent is not actually received by the licensee, the licensee shall provide notice to the debtor of the lack of required consent and the debtor may, at its option, close the account. If the debtor decides to close the account, any unexpended funds shall be returned to the debtor or disbursed as directed by the debtor.
Sec. 14.
(1) A contract between a licensee and debtor shall include all of the following:

(a) Each creditor to which payments will be made and the amount owed each creditor. A licensee may rely on records of the debtor and other information available to it to determine the amount owed to a creditor.
(b) The total amount of the licensee’s charges.
(c) The beginning and termination dates of the contract.
(d) The principal amount and approximate interest charges of the debtor’s obligations to be paid under the debt management plan.
(e) The name and address of the licensee and of the debtor.
(f) Any 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) In addition to the fee described in section 13(1), a licensee may charge a reasonable fee for providing debt management services under a debt management plan. The fee under this subsection shall not exceed 15% of the amount of the debt to be liquidated during the express term of the plan.
(2) A licensee may offer a debtor the option to purchase credit reports or educational materials and products, and charge a fee to the debtor if the debtor elects to purchase any of those items from the licensee. Fees charged under this subsection are not subject to the 15% limitation on fees described in subsection (1).
(3) Except for a cancellation described in subsection (4), in the event of cancellation of or default in the performance of the contract by the debtor before its successful completion, a licensee may collect $25.00 in addition to any fees and charges of the licensee previously received by the licensee. This $25.00 fee is not subject to the 15% limitation on fees and charges under subsection (1).
(4) A contract is in effect when it is signed by the licensee and the debtor and the debtor has made a payment of any amount 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. A cancellation described in this section is not subject to, and a licensee shall not collect, the fee described in subsection (3).
(5) If a debtor fails to make a payment of any amount to a licensee within 60 days after the date a payment is due under a contract, the licensee may, in its discretion, cancel the debt management contract if it determines that the plan is no longer suitable for the debtor, the debtor fails to affirmatively communicate to the licensee the debtor’s desire to continue the plan, or the creditors of the debtor refuse to continue accepting payments under the plan.
(6) A licensee shall not contract for, receive, or charge a debtor an amount greater than authorized by this act. A person that 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. DM 80016.

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 Financial Regulation.

Virginia residents: Take Charge America, Inc. is licensed by the Virginia State Corporation Commission, license no. DC-51.


Contact Information:
Take Charge America
20620 N. 19th Avenue
Phoenix, AZ 85027
(800) 823-7396

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