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Kentucky Attorney General Sends Registration Inquiry Letters To Debt Settlement Companies Operating In The State

It has come to our attention that the Kentucky Attorney General's office has been contacting debt settlement companies that operate in the State of Kentucky to obtain information regarding whether they are properly licensed to engage in "debt adjusting," as that term is defined by the Kentucky Revised Statutes.

Section 380.010 of the KRS requires all persons (and entities) engaged in debt adjusting in Kentucky to register and maintain an annual registration with the Attorney General's office.

If your company is doing business in Kentucky, and is not presently registered in the state, we urge you to familiarize yourself with the registration requirements, as well as the other relevant rules and regulations for doing business in Kentucky, and to take prompt steps to ensure that your company is compliant.

This client alert is a publication of Loeb & Loeb LLP and is intended to provide information on recent legal developments. This client alert does not create or continue an attorney client relationship nor should it be construed as legal advice or an opinion on specific situations.

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