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4 chapters · 147 sections in this title.
O.C.G.A. § 18-5-1 Definitions
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As used in this chapter, the term: (1) “Debt adjusting” means doing business in debt adjustments, budget counseling, debt management, or debt pooling service or holding oneself out, by words of similar import, as providing services to debtors in the management of their debts and …
O.C.G.A. § 18-5-2 Debt adjusting permitted
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In the course of engaging in debt adjusting, it shall be unlawful for any person to accept from a debtor who resides in this state, either directly or indirectly, any charge, fee, contribution, or combination thereof in an amount in excess of 7.5 percent of the amount paid monthl…
O.C.G.A. § 18-5-3 Exemption for debt adjustment by certain individuals or entities
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Nothing in this chapter shall apply to those situations involving debt adjusting incurred in the practice of law in this state. Nothing in this chapter shall apply to those persons or entities who incidentally engage in debt adjustment to adjust the indebtedness owed to said pers…
O.C.G.A. § 18-5-3.1 Annual requirements for persons engaged in debt adjusting; designation of repository office
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(a) Any person engaged in debt adjusting for debtors residing in this state shall meet the following annual requirements: (1) Obtain from an independent third party certified public accountant an annual audit of all accounts of such person in which the funds of debtors are deposit…