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Required State License(s): There is no state license required if the only services provided are keeping records or balancing checkbooks. However, debt management is defined as "the planning and management of the financial affairs of a debtor and the receipt of money from the debtor for distribution to a creditor in payment or partial payment of the debtor's obligations." Any person engaged in the business of debt management is rendering a financial planning service and must obtain a license. Contact the Department of Insurance and Financial Services for licensure information at 877-999-6442 or visit www.michigan.gov/difs.