Collection Agencies

ORS 697.602
Definitions for ORS 697.602 to 697.842

As used in ORS 697.602 (Definitions for ORS 697.602 to 697.842) to 697.842 (Disposition of moneys received by director):


“Consumer” means an individual who is obligated or is allegedly obligated to pay a debt and on whose behalf a debt management service provider performs or agrees to perform a debt management service.


“Debt management service” means an activity for which a person receives money or other valuable consideration or expects to receive money or other valuable consideration in return for:


Receiving or offering to receive funds from a consumer for the purpose of distributing the funds among the consumer’s creditors in full or partial payment of the consumer’s debts, whether or not the person holds the consumer’s funds;


Improving or offering to improve or preserve a consumer’s credit record, credit history or credit rating;


Modifying or offering to modify terms and conditions of an existing loan from or obligation to a third party; or


Obtaining or attempting to obtain as an intermediary on a consumer’s behalf a concession from a creditor including, but not limited to, a reduction in the principal, interest, penalties or fees associated with a debt.


“Debt management service provider” means a person that:


Resides or does business in this state; and


Provides or performs, or represents that the person can or will provide or perform a debt management service in return for or in expectation of money or other valuable consideration.


“Nationwide Multistate Licensing System” means a system that the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators, or assigns of the Conference of State Bank Supervisors or the American Association of Residential Mortgage Regulators, develop and maintain for participating state agencies to use in licensing and registering mortgage loan originators and other persons that provide nondepository financial services.


“Nonprofit entity” means a person, corporation, organization, board, association or other entity described in 26 U.S.C. 501(c)(3), as in effect on June 26, 2009, that is exempt from taxation under 26 U.S.C. 501(a). [1983 c.17 §2; 1987 c.373 §45; 1993 c.744 §21; 2009 c.604 §1; 2015 c.118 §4]
Chapter 697

Atty. Gen. Opinions

Duty of merchant using third party letterhead purchased from collection letter service to obtain license, (1972) Vol 36, p 79


Last accessed
Jun. 26, 2021