Miss. Code Ann. § 81-22-19
Prohibited acts [Repealed effective July 1, 2022]
Redline — December 13, 2018 → current.View current text →
Current — October 8, 2019
As of December 13, 2018
A debt management service provider may not:
A debt management service provider may not:
Purchase debt. — Purchase any debt or obligation of a consumer;
Purchase debt.Purchase any debt or obligation of a consumer;
Lend money. — Lend money or provide credit to any consumer;
Lend money.Lend money or provide credit to any consumer;
Mortgage interest. — Obtain a mortgage or other security interest in property of a consumer;
Mortgage interest.Obtain a mortgage or other security interest in property of a consumer;
Debt collector. — Operate as a debt collector in this state; or
Debt collector.Operate as a debt collector in this state; or
Negative amortization. — Structure an agreement for the consumer that, at the conclusion of the projected term for the consumer’s participation in the debt management service agreement, would result in negative amortization of any of the consumer’s obligations to creditors.
Negative amortization.Structure an agreement for the consumer that, at the conclusion of the projected term for the consumer’s participation in the debt management service agreement, would result in negative amortization of any of the consumer’s obligations to creditors.
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.