47-18-5530 - Advertising. [Effective July 1, 2010.] - Tennessee Statutes

47-18-5530. Advertising. [Effective July 1, 2010.]

(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, it 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, it shall disclose, in an easily comprehensible manner, the information specified in § 47-18-5517(d)(3) and (4).

[Acts 2009, ch. 469, § 1.]