§ 380.010 Definitions for chapter
§ 380.030 Persons exempt from classification as debt adjuster
§ 380.040 Persons engaged in debt adjusting — Powers and prohibitions — Requirements for registration, audits, insurance, and bond or letter of credit — Increase in amount of bond or insurance when debt is primarily for personal use
§ 380.050 Administrative regulations governing debt adjusting
§ 380.060 Person engaged in debt adjusting to contract with debtor — Disclosure and notice to debtor — Debtor’s right to cancel
§ 380.070 Debt adjuster to take reasonable measures to protect debtor’s personal information
§ 380.080 Debt adjuster prohibited from sale of debtor’s personal information without written authorization — Confidentiality agreement
§ 380.090 Annual disclosure of debt adjuster’s policies and practices to be provided to debtor
§ 380.100 Agreement for debt adjusting — Contents — Right to confer power of attorney upon debt adjuster — Prohibited provisions
§ 380.110 Cause of action for loss resulting from violation of KRS Chapter 380 — Time limitation on prosecution of action
§ 380.120 Waiver of debtor’s rights void and unenforceable
§ 380.130 Prohibition of limitation on right of financial institution to collect valid debts
§ 380.990 Penalties

Terms Used In Kentucky Statutes > Chapter 380 - Debt Adjusting

  • Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
  • Amortization: Paying off a loan by regular installments.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Attorney: means attorney-at-law. See Kentucky Statutes 446.010
  • Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
  • Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
  • Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. Source: OCC
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Debt adjuster: means a person engaged in the business of debt adjusting. See Kentucky Statutes 380.010
  • Debt adjusting: means doing business in this state in debt adjusting, budget counseling, debt management, debt modification or settlement, foreclosure assistance, or debt pooling service, or holding oneself out as acting or offering or attempting to act as an intermediary between a debtor and his or her creditors for a fee, contribution, or other consideration, or by words of similar import, as providing services to debtors in the management, settlement, modification, or adjustment of their debts, to do any of the following:
    (a) Effect the adjustment, compromise, settlement, modification, or discharge of any account, note or other indebtedness of the debtor. See Kentucky Statutes 380.010
  • Debtor: means an individual who resides in Kentucky and is indebted to a creditor or creditors, including two (2) or more individuals who are jointly and severally, or jointly or severally, indebted to a creditor or creditors. See Kentucky Statutes 380.010
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Federal: refers to the United States. See Kentucky Statutes 446.010
  • Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • 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
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Month: means calendar month. See Kentucky Statutes 446.010
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Person: includes , but is not limited to, individuals, partnerships, associations, corporations, limited liability companies, trusts, and other legal entities. See Kentucky Statutes 380.010
  • Personal information: means any information:
    1. See Kentucky Statutes 380.010
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
  • Statute: A law passed by a legislature.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Year: means calendar year. See Kentucky Statutes 446.010