2010 Pennsylvania Code
Title 18 - CRIMES AND OFFENSES
Chapter 73 - Trade and Commerce
7312 - Debt pooling.

     § 7312.  Debt pooling.
        (a)  Offense defined.--Any person engaged in the business of
     debt pooling shall be guilty of a misdemeanor of the third
     degree.
        (b)  Exceptions.--Subsection (a) of this section shall not
     apply to:
            (1)  Any person who is admitted to practice before the
        Supreme Court of Pennsylvania or any court of common pleas of
        this Commonwealth or any partnership or professional
        corporation all of the members or shareholders of which are
        so admitted.
            (2)  Better business bureaus, legal aid societies or
        welfare agencies who act without compensation or profit on
        behalf of debtors as debt adjusters or debt poolers.
            (3)  Organizations in the business of debt adjusting or
        debt pooling that are exempt from taxation under section
        501(c)(3) of the Internal Revenue Code of 1986 (Public Law
        99-514, 26 U.S.C. § 501(c)(3)) or any successor provisions
        thereof.
        (c)  Definitions.--As used in this section the following
     words and phrases shall have the meanings given to them in this
     subsection:
        "Creditor."  A person to whom a debt or obligation is owed
     from another whether such is payable in installments or
     otherwise.
        "Debtor."  A person who owes an obligation or debt to another
     whether such is repayable in installments or otherwise.
        "Debt pooling."  The making of a contract, express or
     implied, with a debtor or debtors whereby the debtor agrees to
     pay a sum of money periodically or otherwise to another person
     for the purpose of having such other person distribute the same
     among certain specified creditors in accordance with a plan
     agreed upon, or to be agreed upon, and whereby such other person
     shall receive a consideration for any such services rendered, or
     to be rendered, in connection therewith.
     (Dec. 18, 2007, P.L.462, No.70, eff. imd.)

        2007 Amendment.  Act 70 amended subsec. (b).