Mich. Admin. Code R. 451.1239 - Budget analysis
Rule 19.
(1) A copy
of the budget analysis required under section 12 of the act, MCL
451.422, must be retained in the
debtor's file for a period of 6 years after the last transaction.
(2) The budget analysis must be signed by a
certified counselor of the firm who participated in the preparation of the
analysis.
(3) The budget analysis
must identify the type and amount of each debtor's obligation by providing an
adequate general description. Adequate general descriptions include "credit
card," "unsecured loan," "vehicle loan," "mortgage loan," or other terms
similarly identifying the type of debtor's obligation. The terms "other,"
"miscellaneous," or "generic" are not adequate general descriptions.
Notes
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