As used in this chapter, the term:
(1) “Debt adjusting” means doing business in debt adjustments, budget counseling, debt management, or debt pooling service or holding oneself out, by words of similar import, as providing services to debtors in the management of their debts and contracting with a debtor for a fee to:
(A) Effect the adjustment, compromise, or discharge of any account, note, or other indebtedness of the debtor; or
(B) Receive from the debtor and disburse to his or her creditors any money or other thing of value.
(2) “Person” means an individual, corporation, partnership, trust, association, or other legal entity.
(3) “Resides” means to live in a particular place, whether on a temporary or permanent basis.