Statute: Pa. Stat. tit. 63, §2401 et seq.

Definitions: “Debt management services.”  The service of receiving funds periodically from a consumer and then distributing those funds to creditors of the consumer in partial or full payment of the consumer’s personal debts.

“Debt settlement services.”  An action or negotiation made on behalf of a consumer with that consumer’s creditors for the purpose of the creditor forgiving part or all of the principal of the debt incurred, or credit extended to that consumer.  The term shall not include any action taken to convince a creditor to waive any fees or charges.