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 monthly by such debtor to such person for distribution to creditors of such debtor; provided, however, no provision of this chapter shall prohibit any person, in the course of engaging in debt adjusting, from imposing upon a debtor who resides in this state a reasonable and separate charge or fee for insufficient funds transactions.
History. Ga. L. 1956, p. 797, § 2; Ga. L. 2003, p. 392, § 2; Ga. L. 2015, p. 1088, § 18/SB 148.
Structure Georgia Code
Title 18 - Debtor and Creditor
§ 18-5-2. Debt Adjusting Permitted
§ 18-5-3. Exemption for Debt Adjustment by Certain Individuals or Entities
§ 18-5-3.2. Timing of Disbursements to Appropriate Creditors; Trust Account Required
§ 18-5-4. Penalty for Unlawfully Engaging in Business of Debt Adjusting
§ 18-5-5. Role of Attorney General in Promulgating Rules and Regulations