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LSS Financial Counseling Service is an accredited and licensed credit counseling and debt management service provider.
The following information, policies and legal disclosures are outlined below:Statement of Counseling ServicesClient Bill of RightsComplaint Resolution PolicySchedule of FeesState Disclosures
Since 1987, LSS Financial Counseling Service has helped people achieve financial peace of mind through full service, thoughtful, and trustworthy counseling. To ensure that you have the information you need to make an informed choice about your options, this Statement of Counseling Services outlines important information you need to know about our organization and services.
We pledge that our clients have the right:
We are committed to providing you with high quality professional services. However, if you are not satisfied with the services provided or if you want to make a complain, we ask that you follow these guidelines:
LSS Financial Counseling collects fees for some services.
Note: While these fees will apply in most circumstances, no one will be denied services for inability to pay. Some services, like bankruptcy pre-filing counseling and bankruptcy pre-discharge education, have a set standard for waiver of fees. For all other services, if a client is unable to pay, counseling and administration staff should consult a manager for clarification.
Debt Management Program (DMP)
DMP Set-up FeeDMP Credit Report ReviewDMP Monthly Service Fee
Unless limited by state law:$35.00$0Max. $50.00
Residents of California Complaints related with LSS Financial Counseling may be directed to the California Department of Corporations. This nonprofit community service organization has adopted best practices for debt management plans and debt settlement plans and a copy will be provided upon request.
Residents of Illinois LSS Financial Counseling does not lend money. Except in the case of violations of Illinois law, willful misconduct or grow negligence by LSS Financial Counseling, I shall hold LSS harmless from any claim, suite, action or demand by any creditor or person arising out of, or connected with, its advice or counseling, or the establishing of the DMP.
Residents of Maryland The Commissioner of Financial Regulation for the State of Maryland will accept any questions and complaints from Maryland residents regarding Lutheran Social Service of Minnesota d/b/a LSS Financial Counseling, License Number 14-69, at 500 N. Calvert St., Room 402, Baltimore, MD 21202. Phone: 1-888-784-0136.
Residents of Michigan Licensed by the Department of
Insurance and Financial ServicesLicense #DM-0017139Section 13(1)Upon establishing a debt management
plan for a debtor, a licensee may charge and receive an initial fee of $50.00.
However, unless 51% or more in number or dollar amount of all the debtor’s
creditors consent to the debt management program within 90 days of establishing
the debt management plan, 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.Section 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
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.Section 181. A licensee may charge a
reasonable fee for providing debt management services under a debt management
plan. The fees 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 in 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.Department
of Insurance and Financial Services
530 W. Allegan Street, 7th Floor
Lansing, MI 48933
517.284.8800 or 877.999.6442 (toll-free)
LSS Financial Counseling is a service of Lutheran Social Service of Minnesota, which serves all people and all incomes regardless of race, color, creed, religion, national origin, sex, sexual orientation, disability or age.
LSS Financial Counseling | 424 West Superior St. Suite 600, Duluth, MN 55802 | 888.577.2227