Not exact matches
If you've got a lot of
credit card debt, in my view the best way for most people most of the time to pay it off is through a Debt Management Plan, either a
do - it - yourself job or administered
by a nonprofit
credit counseling agency.
(1) A
credit services organization, its salespersons, agents, and representatives, and independent contractors who sell or attempt to sell the services of a
credit services organization may not
do any of the following: (a) conduct any business regulated
by this chapter without first: (i) securing a certificate of registration from the division; and (ii) unless exempted under Section 13 -21-4, posting a bond, letter of
credit, or certificate of deposit with the division in the amount of $ 100,000; (b) make a false statement, or fail to state a material fact, in connection with an application for registration with the division; (c) charge or receive any money or other valuable consideration prior to full and complete performance of the services the
credit services organization has agreed to perform for the buyer; (d) dispute or challenge, or assist a person in disputing or challenging an entry in a
credit report prepared
by a consumer reporting
agency without a factual basis for believing and obtaining a written statement for each entry from the person stating that that person believes that the entry contains a material error or omission, outdated information, inaccurate information, or unverifiable information; (e) charge or receive any money or other valuable consideration solely for referral of the buyer to a retail seller who will or may extend
credit to the buyer, if the
credit that is or will be extended to the buyer is upon substantially the same terms as those available to the general public; (f) make, or
counsel or advise any buyer to make, any statement that is untrue or misleading and that is known, or that
by the exercise of reasonable care should be known, to be untrue or misleading, to a
credit reporting
agency or to any person who has extended
credit to a buyer or to whom a buyer is applying for an extension of
credit, with respect to a buyer's creditworthiness,
credit standing, or
credit capacity; (g) make or use any untrue or misleading representations in the offer or sale of the services of a
credit services organization or engage, directly or indirectly, in any act, practice, or course of business that operates or would operate as fraud or deception upon any person in connection with the offer or sale of the services of a
credit services organization; and (h) transact any business as a
credit services organization, as defined in Section 13 -21-2, without first having registered with the division
by paying an annual fee set pursuant to Section 63J -1-504 and filing proof that it has obtained a bond or letter of
credit as required
by Subsection (2).
A
credit repair business and its salespersons, agents, and representatives, and independent contractors who sell or attempt to sell the services of a
credit repair business, shall not
do any of the following: (1) Charge or receive any money or other valuable consideration prior to full and complete performance of the services that the
credit repair business has agreed to perform for or on behalf of the consumer; (2) Charge or receive any money or other valuable consideration solely for referral of the consumer to a retail seller or to any other
credit grantor who will or may extend
credit to the consumer, if the
credit that is or will be extended to the consumer is upon substantially the same terms as those available to the general public; (3) Represent that it can directly or indirectly arrange for the removal of derogatory
credit information from the consumer's
credit report or otherwise improve the consumer's
credit report or
credit standing, provided, this shall not prevent truthful, unexaggerated statements about the consumer's rights under existing law regarding his
credit history or regarding access to his
credit file; (4) Make, or
counsel or advise any consumer to make, any statement that is untrue or misleading and which is known or which
by the exercise of reasonable care should be known, to be untrue or misleading, to a consumer reporting
agency or to any person who has extended
credit to a consumer or to whom a consumer is applying for an extension of
credit, with respect to a consumer's creditworthiness,
credit standing, or
credit capacity; or (5) Make or use any untrue or misleading representations in the offer or sale of the services of a
credit repair business or engage, directly or indirectly, in any act, practice, or course of business which operates or would operate as a fraud or deception upon any person in connection with the offer or sale of the services of a
credit repair business.
«Even though it doesn't reduce your score, when a lender notes in the remarks on your report that your bills are being paid
by a
counseling agency, then a future lender may be hesitant to extend
credit because you had a third party paying your bills,» says Wayne Sanford,
credit repair expert.