A debt adjuster license is required to engage in the business of either: (a) acting or offering to act for consideration as an intermediary between a debtor and his creditors for the purposes of settling, compounding, or otherwise altering the terms of payment of debts of the debtor, or (b) to that end, receiving money or other property from the debtor, or on behalf of the debtor, for payment to, or distribution among, the creditors of the debtor.
The governing statute is the New Jersey Debt Adjustment and Credit Counseling Act, N.J.S.A. 17:16G-1 et. seq. |
