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.