TITLE XXXI Debtor-Creditor Relations 380.010. Definitions for chapter., KRS § 380.010

Summary

As used in this chapter, the following terms mean:

(1) “Person” includes, but is not limited to, individuals, partnerships, associations, corporations, limited liability companies, trusts, and other legal entities;

(2) “Debt adjuster” means a person engaged in the business of debt adjusting;

(3) “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;

(b) Receive from the debtor and disburse to ...