407.641. Contract, writing, contents.

MISSOURI STATUTES AND CODES

407.641. Contract, writing, contents.

Contract, writing, contents.

407.641. 1. Before executing a contract or agreement with a buyer orreceiving money or other valuable consideration, a credit servicesorganization shall provide the buyer with a statement in writing, containing:

(1) A complete and detailed description of the services to be performedby the credit services organization for the buyer and the total cost of theservices;

(2) A statement explaining the buyer's right to proceed against the bondor surety account required by subdivision (1) of section 407.638;

(3) The name and address of the surety company that issued the bond, orthe name and address of the depository and the trustee, and the account numberof the surety account;

(4) A complete and accurate statement of the buyer's right to review anyfile on the buyer maintained by a consumer reporting agency, as provided bythe federal Fair Credit Reporting Act, 15 U.S.C. Section 1681, et seq.;

(5) A statement that the buyer's file is available for review at nocharge on request made to the consumer reporting agency within thirty daysafter the date of receipt of notice that credit has been denied, and that thebuyer's file is available for a minimal charge at any other time;

(6) A complete and accurate statement of the buyer's right to disputedirectly with the consumer reporting agency the completeness or accuracy ofany item contained in a file on the buyer maintained by that consumerreporting agency;

(7) A statement that accurate information cannot be permanently removedfrom the files of a consumer reporting agency;

(8) A complete and accurate statement of when consumer informationbecomes obsolete and of when consumer reporting agencies are prevented fromissuing reports containing obsolete information; and

(9) A complete and accurate statement of the availability of nonprofitcredit counseling services.

2. The credit services organization shall maintain on file, for a periodof two years after the date the statement is provided, an exact copy of thestatement, signed by the buyer, acknowledging receipt of the statement.