14 Guam Code Ann. § 7109
Terms Used In 14 Guam Code Ann. § 7109
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- Trustee: A person or institution holding and administering property in trust.
COL120106
14 Guam Code Ann. UNIFORM CONSUMER CREDIT CODE
CH. 7 NONPROFIT CONSUMER CREDIT COUNSELING AGENCIES
(1) to provide specialized credit counseling service to individuals of the general public in the area of consumer credit;
(2) to handle moneys or other property as agent or act as trustee in relation to the care, custody or management of such moneys or property for individual debtors being counseled;
(3) to act as trustees or other statutory agent or representative in bankruptcy or state wage earner, garnishment or similar proceedings, and to receive and distribute moneys or other property to be paid or distributed in the proceedings;
(4) to charge reasonable fees in accordance with this Chapter for services rendered or to be rendered to individual debtors, including, but not limited to, meetings or communications with debtors’ creditors or employers, appearances before judicial or other official bodies and receipt, care and distribution of debtors’ income and other assets;
(5) to accept such assignments of wages of a debtor as are authorized or permitted under the laws of this Territory;
(6) to publicize its services to the public;
(7) to conduct group counseling services and educational programs with or without charge on matters involving consumer credit;
(8) to disseminate information relating to consumer credit; and
(9) to solicit and accept contributions.