‘Debt-management plan’ means a plan which contemplates that:

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1.  Regular, periodic payments will be made to a provider by or on behalf of an individual to whom debt-management services are being provided; and

2.  The individual’s creditors will reduce financing charges or fees for late payment, default or delinquency. The term does not include a plan which contemplates that creditors of the individual will settle debts for less than the principal amount of the debt.