As used in this chapter, “debt adjustment” means making an agreement with a debtor whereby the debt adjuster agrees to distribute, supervise, coordinate, negotiate, or control the distribution of money or evidences thereof among one or more of the debtor’s creditors in full or partial payment of obligations of the debtor and includes services as an intermediary between a debtor and one or more of the debtor’s creditors for the purpose of obtaining concessions. Debt adjustment also includes any program or strategy in which the debt adjuster furnishes services to a debtor that includes a proposed or actual payment or schedule of payments to be made by or on behalf of the debtor and is used to pay debt owed by the debtor. For purposes of this chapter, engaging in debt adjustment in this State shall include:

1. (1) soliciting debt adjustment business from within this State, whether by mail, by telephone, by electronic means, or by other means regardless of whether the debtor resides within this State or outside this State;
2. (2) soliciting debt adjustment business with an individual residing in this State, whether by mail, by telephone, by electronic means, or by other means;
3. (3) entering into, or succeeding to, a debt adjustment contract with an individual residing in this State; or
4. (4) providing, offering to provide, or agreeing to provide debt adjustment services directly or through others.

(Added 1969, No. 204 (Adj. Sess.), eff. March 23, 1970; amended 2003, No. 81 (Adj. Sess.), § 1; 2005, No. 36, § 4, eff. June 1, 2005; 2009, No. 137 (Adj. Sess.), §§ 2, 3; 2011, No. 78 (Adj. Sess.), § 19, eff. April 2, 2012; 2019, No. 20, § 66.)