| (1) |
If a provider whose agreements contemplate that creditors will reduce finance charges or fees for late payment, default, or delinquency advertises debt-management services, it shall disclose, in an easily comprehensible manner, that using a debt-management plan may make it harder for the individual to obtain credit. |
Terms Used In Utah Code 13-42-130
- 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.
| (2) |
If a provider whose agreements contemplate that creditors will settle for less than the full principal amount of debt that advertises debt-management services, it shall disclose, in an easily comprehensible manner:
| (b) |
the provider’s settlement fee structure, consistent with the limitations of Section 13-42-123. |
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Amended by Chapter 152, 2012 General Session
