STATE OF ILLINOIS
DEPARTMENT OF FINANCIAL & PROFESSIONAL REGULATION
DIVISION OF FINANCIAL INSTITUTIONS
In the Matter of )
)
Debt Free Angels ) No. 14CC292
)
)
To:
Debt Free Angels
4402 Vance Jackson Rd., Suite 230
San Antonio, TX 78230-5347
ORDER TO CEASE AND DESIST, PRODUCE DOCUMENTS AND PAY
RESTITUTION
The DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION,
DIVISION OF FINANCIAL INSTITUTIONS (DFI), having performed an investigation
related to the debt settlement business conducted by Debt Free Angels (DFA) pursuant to
the Debt Settlement Consumer Protection Act, 225 ILCS 429 (Act) hereby issues this
order (Order) for violations of the Act.
STATUTORY PROVISIONS
1. Section 10 of the Act states, in relevant part:
“Debt settlement provider” means any person or entity engaging in, or
holding itself out as engaging in, the business of providing debt settlement
service in exchange for any fee or compensation, or any person who
solicits for or acts on behalf of any person or entity engaging in, or
holding itself out as engaging in, the business of providing debt settlement
service in exchange for any fee or compensation.
2. Section 10 of the Act states, in relevant part:
“Debt settlement service” means:
(1) offering to provide advice or service, or acting as an
intermediary between or on behalf of a consumer and one
or more of a consumer’s creditors, where the primary
purpose of the advice, service, or action is to obtain a
settlement, adjustment, or satisfaction of the consumer’s
unsecured debt to a creditor in an amount less than the