§ 458-f. Contracts; requirements and contents.
1.Every contract\nbetween a consumer and a credit services business shall be in writing,\nshall be dated, shall contain the street address of the credit services\nbusiness and the consumer, and shall be signed by the consumer and\ncredit services business. Each contract shall contain the following:\n (a) A complete and detailed statement of the services to be performed\nand the results to be achieved by the credit services business for or on\nbehalf of the consumer, including a list of the adverse information\nappearing on the consumer's credit report that will be modified, a\ndescription of the precise nature of each modification, and the\nestimated date by which each modification will occur. A copy of the\nconsumer's current credit repor
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§ 458-f. Contracts; requirements and contents. 1. Every contract\nbetween a consumer and a credit services business shall be in writing,\nshall be dated, shall contain the street address of the credit services\nbusiness and the consumer, and shall be signed by the consumer and\ncredit services business. Each contract shall contain the following:\n (a) A complete and detailed statement of the services to be performed\nand the results to be achieved by the credit services business for or on\nbehalf of the consumer, including a list of the adverse information\nappearing on the consumer's credit report that will be modified, a\ndescription of the precise nature of each modification, and the\nestimated date by which each modification will occur. A copy of the\nconsumer's current credit report issued by a consumer credit reporting\nagency shall be annexed to the contract with the adverse entries\nproposed to be modified clearly marked.\n (b) A statement in at least ten point type as follows:\n "Under New York law no fee may be collected in advance of performance\nof the services specified in this contract."\n 2. The contract shall be accompanied by a completed form in duplicate,\ncaptioned "Notice of Cancellation," which shall be attached to the\ncontract and easily detachable, and which shall contain in at least ten\npoint type the following:\n "Notice of Cancellation"\n "You may cancel this contract, without any penalty or obligation,\nwithin three days from the date the contract is signed.\n "To cancel this contract, mail or deliver a signed and dated copy of\nthis cancellation notice, or any other written notice,\nto____________________ at\n (name of seller)\n______________________________________________________________________\n (address of seller) (Place of business)\n not later than midnight____________________.\n (date)\n "I hereby cancel this transaction."\n ________________________________________________\n (purchaser's signature)\n ________________________________________________\n (date)\n 3. A copy of the fully completed contract and all other documents\nshall be given to the buyer at the time the contract is signed.\n