Terms, defined.For purposes of the Credit
Services Organization Act: (1) Buyer shall mean an individual who is solicited to purchase or who purchases the services of a credit services organization; (2) Consumer reporting agency shall have the meaning assigned by the Fair Credit Reporting Act, 15 U.S.C. 1681a (f); (3) Credit services organization shall mean a person who, with respect to the extension of credit by others and in return for the payment of money or other valuable consideration, provides or represents that the person can or will provide any of the following services: (a) Improving a buyer's credit record, history, or rating; (b) Obtaining an extension of credit for a buyer; or (c) Providing advice or assistance to a buyer with regard to subdivision (a) or (b) of this subdivision; (4) Extension of credit shall mean the right to defer payment of debt or to incur debt and defer its payment offered or granted primarily for personal, family, or household purposes; and (5) Person shall include individual, corporation, company, association, partnership, limited liability company, and other business
Services Organization Act: (1) Buyer shall mean an individual who is solicited to purchase or who purchases the
services of a credit services organization; (2) Consumer reporting agency shall have the meaning assigned by the Fair Credit Reporting Act, 15 U.S.C. 1681a (f); (3) Credit services organization shall mean a person who, with respect to the extension of credit by others and in return for the payment of money or other valuable consideration, provides or represents that the person can or will provide any of the following services: (a) Improving a buyer's credit record, history, or rating; (b) Obtaining an extension of credit for a buyer; or (c) Providing advice or assistance to a buyer with regard to subdivision (a) or (b) of this subdivision; (4) Extension of credit shall mean the right to defer payment of debt or to incur debt and defer its payment offered or granted primarily for personal, family, or household purposes; and (5) Person shall include individual, corporation, company, association, partnership, limited liability company, and other business
services of a credit
services organization; (2) Consumer reporting agency shall have the meaning assigned by the Fair Credit Reporting Act, 15 U.S.C. 1681a (f); (3) Credit services organization shall mean a person who, with respect to the extension of credit by others and in return for the payment of money or other valuable consideration, provides or represents that the person can or will provide any of the following services: (a) Improving a buyer's credit record, history, or rating; (b) Obtaining an extension of credit for a buyer; or (c) Providing advice or assistance to a buyer with regard to subdivision (a) or (b) of this subdivision; (4) Extension of credit shall mean the right to defer payment of debt or to incur debt and defer its payment offered or granted primarily for personal, family, or household purposes; and (5) Person shall include individual, corporation, company, association, partnership, limited liability company, and other business
services organization; (2) Consumer reporting agency shall have the meaning assigned by the Fair Credit Reporting Act, 15 U.S.C. 1681a (f); (3) Credit
services organization shall mean a person who, with respect to the extension of credit by others and in return for the payment of money or other valuable consideration, provides or represents that the person can or will provide any of the following services: (a) Improving a buyer's credit record, history, or rating; (b) Obtaining an extension of credit for a buyer; or (c) Providing advice or assistance to a buyer with regard to subdivision (a) or (b) of this subdivision; (4) Extension of credit shall mean the right to defer payment of debt or to incur debt and defer its payment offered or granted primarily for personal, family, or household purposes; and (5) Person shall include individual, corporation, company, association, partnership, limited liability company, and other business
services organization shall mean a person who, with respect to the extension of credit by others and in return for the payment of
money or other valuable consideration, provides or represents that the person can or will provide any of the following
services: (a) Improving a buyer's credit record, history, or rating; (b) Obtaining an extension of credit for a buyer; or (c) Providing advice or assistance to a buyer with regard to subdivision (a) or (b) of this subdivision; (4) Extension of credit shall mean the right to defer payment of debt or to incur debt and defer its payment offered or granted primarily for personal, family, or household purposes; and (5) Person shall include individual, corporation, company, association, partnership, limited liability company, and other business
services: (a) Improving a buyer's credit record, history, or rating; (b) Obtaining an extension of credit for a buyer; or (c) Providing advice or assistance to a buyer with
regard to subdivision (a) or (b) of this subdivision; (4) Extension of credit shall mean the right to defer payment of debt or to incur debt and defer its payment offered or granted primarily for personal, family, or household purposes; and (5) Person shall include individual, corporation, company, association, partnership, limited liability company, and other
business entity.
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.
December 5, 2017 -
Business License Fees November 28, 2017 - Queries From The Field November 21, 2017 - Taxes and Fees Audits November 14, 2017 - Closing Disclosures — Sharing with Real Estate Agents November 7, 2017 - Cyber Security October 31, 2017 - Caveat Emptor for the Seller's Agent October 24, 2017 - Caveat Emptor for the Buyer's Agent October 17, 2017 - How to File a Complaint with the Alabama Real Estate Commission (AREC) October 9, 2017 - Annual Convention Summary from Your Legal Helpdesk October 3, 2017 - REALTOR ® Submitted Questions September 25, 2017 - Earnest
Money Issues September 18, 2017 - The Impact of Immigration on Real Estate September 12, 2017 - Q & A's
Regarding Disaster Relief September 4, 2017 - Tips for Texting & Emailing Offers August 21, 2017 - Tips on
Service and Companion Animals