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How long must a licensee maintain records?

A licensee must maintain all records of the debt management business for a minimum of six years after each record is created. This includes, but is not limited to: budget analyses (the original and any updated versions), contracts, amended contracts, monthly/quarterly statements, payment histories, creditor consent information, counselor notes, ACH authorizations (including recordings of verbal authorizations), trust reconcilements, financial statements, and a history of all general ledger account entries.