“Debt-management plan” means a plan which contemplates that:
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.
Ê 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.