Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 145 - DEBT SETTLEMENT CONSUMER PROTECTION ACT
Section 145.70 - Prohibited Activities
Current through Register Vol. 48, No. 12, March 22, 2024
a) A debt settlement provider shall not take:
b) A debt settlement provider shall not take an appointment as attorney in fact or power of attorney.
c) A debt settlement provider shall not take any legal instrument from the debtor other than the service contract and authorized rider.
d) A debt settlement provider shall not accept a fee from any person or other entity in exchange for referring potential customers.
e) No fees shall be paid to an attorney, lending institution, or any other source for the referral of customers.
f) A debt settlement provider shall not solicit or require a debtor to purchase, or agree to purchase, any policy of insurance.
g) A debt settlement provider shall not lend money or extend credit or include in the contract any debts not established prior to the execution of the contract.
h) No advance of the debt settlement provider's funds on the debtor's behalf shall be made by a debt settlement provider to any creditor or to the debtor.
i) A debt settlement provider shall not charge any fees for providing account statements or proofs of payment.