9.02(1)No collection agency shall provide debt settlement services to a debtor and no collector shall provide those services to a debtor on behalf of a collection agency unless the agency has
(a)
entered into a debt settlement services agreement with the debtor
(i)
that is in writing,
(ii)
that contains a clear and detailed explanation of the effect that the debt settlement services agreement will have on the debtor’s credit rating, and
(iii)
that meets the requirements prescribed, if any, and
(b)
delivered a written copy of the agreement to the debtor.
9.02(2)No collection agency shall enter into more than one debt settlement services agreement with the same debtor while there is a debt settlement services agreement between the parties that has not expired.