credit repair laws by state  

Credit Repair Laws by State

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Georgia

Ga. Code Ann., § 16-9-59
§ 16-9-59. Operating credit repair services organization

Ga. Code Ann., § 16-9-59

Title 16. Crimes and Offenses

Chapter 9. Forgery and Fraudulent Practices
Article 4. Fraud and Related Offenses

§ 16-9-59. Operating credit repair services organization

(a) As used in this Code section, the term:
(1) "Buyer" means any individual who is solicited to purchase or who purchases the services of a credit repair services organization.

(2)(A) "Credit repair services organization" means any person who, with respect to the extension of credit to a buyer by others, sells, provides, or performs, or represents that he can or will sell, provide, or perform, in return for the payment of money or other valuable consideration any of the following services:
(i) Improving a buyer's credit record, history, or rating;
(ii) Obtaining an extension of credit for a buyer;
(iii) Providing advice or assistance to a buyer with regard to either division (i) or (ii) of this subparagraph.
(B) "Credit repair services organization" does not include:
(i) Any person authorized to make loans or extensions of credit under the laws of this state or the United States who is subject to regulation and supervision by this state or the United States ;
(ii) Any bank or savings and loan institution whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or the Savings Association Insurance Fund of the Federal Deposit Insurance Corporation;
(iii) Any nonprofit organization exempt from taxation under Section 501(c)(3) of the Internal Revenue Code of 1986;
(iv) Any person licensed as a real estate broker by this state if the person is acting within the course and scope of that license;
(v) Any person licensed to practice law in this state if the person renders services within the course and scope of his or her practice as an attorney;
(vi) Any broker-dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission if the broker-dealer is acting within the course and scope of those regulatory agencies; or
(vii) Any consumer reporting agency as defined in the federal Fair Credit Reporting Act (15 U.S.C. 1681-1681t).
(3) "Extension of credit" means the right to defer payment of debt or to incur debt and defer its payment, offered or granted primarily for personal, family, or household purposes.

(b) A person commits the offense of operating a credit repair services organization when he or she owns, operates, or is affiliated with a credit repair services organization.

(c) Any person who commits the offense of operating a credit repair services organization shall be guilty of a misdemeanor.

Laws 1987, p. 1413, § 1; Laws 1988, p. 13, § 16.

Case Law
I identified only one case construing the act. The annotations contained the following note:

There is no irreconcilable conflict between the provisions of the credit repair law set forth at O.C.G.A. § 16-9-59 and the provisions of the debt adjustment law set forth at O.C.G.A. § 18-5-1 et. seq. with regard to their effect on the operation of consumer debt counseling services by nonprofit organizations exempt from taxation under § 501(c)(3) of the Internal Revenue Code. Although exempt from the credit repair law, such organizations are prohibited from engaging in the activities proscribed by the debt adjustment law. Op.Atty.Gen. No. U97-6, Jan. 31, 1997.

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