Terms Used In Florida Statutes > Chapter 817 > Part IV - Credit Counseling Services

• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Credit counseling agency: means any organization providing debt management services or credit counseling services. See Florida Statutes 817.801
• Credit counseling services: means confidential money management, debt reduction, and financial educational services. See Florida Statutes 817.801
• Creditor contribution: means any sum that a creditor agrees to contribute to a credit counseling agency, whether directly or by setoff against amounts otherwise payable to the creditor on behalf of debtors. See Florida Statutes 817.801
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Debt management services: means services provided to a debtor by a credit counseling organization for a fee to:
  (a) Effect the adjustment, compromise, or discharge of any unsecured account, note, or other indebtedness of the debtor; or
  (b) Receive from the debtor and disburse to a creditor any money or other thing of value. See Florida Statutes 817.801
• Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) ^{Source: OCC}
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means any individual, corporation, partnership, trust, association, or other legal entity. See Florida Statutes 817.801
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}