NRS 676A.130 “Debt-management plan” defined.
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/nv/chapter-676a-uniform-debt-management-services-act/676a-130·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
NRS 676A.130 “Debt-management plan” defined. “Debt-management plan” means a plan which contemplates that:
1. Regular, periodic payments will be made to a provider by or on behalf of an individual to whom debt-management services are being provided; and
2. The individual’s creditors will reduce financing charges or fees for late payment, default or delinquency.
Ê The term does not include a plan which contemplates that creditors of the individual will settle debts for less than the principal amount of the debt.