Utah Code 13-21-6. Contents of statement
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The information statement required under Section 13-21-5 shall include all of the following:
(1) a complete and accurate statement of the buyer‘s right to review any file on the buyer maintained by any credit reporting agency, as provided under 15 U.S.C. § 1681 et seq., as amended, the Fair Credit Reporting Act;
Terms Used In Utah Code 13-21-6
- Buyer: means an individual who is solicited to purchase or who purchases the services of a credit services organization. See Utah Code 13-21-2
- Credit reporting agency: means a person who, for a monetary fee, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of furnishing consumer reports to third persons. See Utah Code 13-21-2
- Credit services organization: means a person who represents that the person or an employee is a debt professional or credit counselor, or, with respect to the extension of credit by others, sells, provides, or performs, or represents that the person can or will sell, provide, or perform, in return for the payment of money or other valuable consideration any of the following services:(3)(a)(i) improving a buyer's credit record, history, or rating;(3)(a)(ii) providing advice, assistance, instruction, or instructional materials to a buyer with regard to Subsection (3)(a)(i); or(3)(a)(iii) debt reduction or debt management plans. See Utah Code 13-21-2
- 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
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
- Trustee: A person or institution holding and administering property in trust.
(2) a statement that a review of the file on the buyer will be conducted free of charge by the credit reporting agency that issued a report upon which a credit denial was based, if requested within 30 days of the buyer receiving a notice of a denial of credit;(3) the approximate price the buyer will be charged by a credit reporting agency for a copy of the file on the buyer;(4) a complete and accurate statement of the buyer’s right to dispute the completeness or accuracy of any item contained in any file on the buyer maintained by any credit reporting agency;(5) a complete and detailed description of the services to be performed by the credit services organization for the buyer and the total amount the buyer will have to pay, or become obligated to pay, for the services;(6) a statement asserting the buyer’s right to proceed against the bond or trust account required under Section 13-21-3; and(7) the name and address of the surety company which issued the bond, or the name and address of the depository and the trustee and the account number of the trust account.