Arkansas Code Title 5. Criminal Offenses § 5-63-301. Debt adjusting--Definitions

(A) Entering into or making of a contract, express or implied, with a particular debtor in which the debtor agrees to pay a certain amount of money periodically to the person engaged in the debt adjusting business that, for a consideration, agrees to distribute, or distributes, the money among certain specified creditors in accordance with an agreed upon plan; or

(B) Business or practice of any person that holds oneself out as acting or offering or attempting to act for a consideration as an intermediary between a debtor and the debtor's creditors for the purpose of settling, compounding, or in anyway altering the terms of payment of any debt of a debtor and, to that end, receives money or other property from the debtor or on behalf of the debtor for the payment to or distribution among the creditors of the debtor;