West Virginia · West Virginia Code — Chapter 61, Crimes and Their Punishment
W. Va. Code (Crimes) § 61-10-23: Debt pooling; definition; offenses; penalty; jurisdiction; pleading and proof
What this law says, in plain English
Debt pooling—managing funds deposited by debtors to distribute among creditors—is unlawful to solicit. Unauthorized persons cannot charge more than 2% (5% for nonprofits) for these services. Violations are misdemeanors punishable by fines of $100–$250 or jail time of 30–60 days.
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