(1) A credit services organization, its salespersons, agents, representatives and independent contractors who sell or attempt to sell the services of a credit services organization shall not do any of the following:
(a) Misrepresent directly or indirectly in any advertising, promotional materials, sales presentation or in any other manner:
(A) The nature of the services to be performed.
(B) The time within which the services will be performed.
(C) The ability to improve the consumer’s credit report or credit rating.
(D) The amount or the type of credit a consumer can expect to receive as a result of the performance of the services offered.
(E) The qualifications, training or experience of the organization’s personnel.
(b) Make, counsel or advise any consumer to make any statement that is untrue or misleading or that should be known by the exercise of reasonable care to be untrue or misleading with respect to a consumer’s creditworthiness, credit standing or credit capacity to a credit reporting agency or a person to whom a consumer is applying for an extension of credit.
(c) Charge or receive any money or other valuable consideration prior to full and complete performance of the services the credit services organization has agreed to perform for the consumer.
(d) Charge or receive any money or other valuable consideration solely for referral of the consumer to a credit provider who will or may extend credit that is or will be extended to the consumer on substantially the same terms as those available to customers of the credit provider.
(e) Transact any business as a credit services organization without first having registered with the Department of Consumer and Business Services as required by ORS 646A.256.
(2) A consumer may cancel any contract between the consumer and a credit services organization at any time prior to midnight of the third business day after the date the contract is entered into. The consumer shall be entitled to a full refund of any fees paid. [Formerly 646.384]
Section: Previous 646A.230 646A.232 646A.240 646A.242 646A.244 646A.250 646A.252 646A.254 646A.256 646A.258 646A.260 646A.262 646A.264 646A.266 646A.268 NextLast modified: August 7, 2008