2019 U.S. Virgin Islands Code
Title 12A - Consumer Code
Chapter 7 - Uniform Debt Services Management
§ 430. Advertising
Universal Citation:
V.I. Code tit. 12A, § 430 (2019)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
(a) If the agreements of a provider contemplate that creditors will reduce finance charges or fees for late payment, default, or delinquency and the provider advertises debt-management services, the provider shall disclose, in an easily comprehensible manner, that using a debt-management plan, may make it harder for the individual to obtain credit.
(b) If the agreements of a provider contemplate that creditors will settle for less than the full principal amount of debt and the provider advertises debt-management services, the provider shall disclose, in an easily comprehensible manner, the information specified in section 417(d)(3) and (4).
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