HFD makes it easy for our providers to file and complete necessary registration, any time it’s needed.
Frequently Asked Questions
What is the Uniform Consumer Credit Code (UCCC)?
The Uniform Consumer Credit Code (UCCC) is a code of conduct that governs consumer credit transactions. It provides guidelines for laws related to the purchase and use of all types of credit products from mortgages to credit cards. It is intended to protect consumers who use credit from fraud and misinformation.
Why is UCCC registration not required by other financing companies?
HFD is a platform that allows healthcare provides to originate credit-sale contracts with their patients so that they can pay in installments. Credit-sale contracts are regulated through the Retail Installment Sales Act (RISA) and the Uniform Consumer Credit Code (UCCC) on a state-by-state basis. Most major financing companies operate differently. Instead, they extend credit directly to patients.
The benefits of this cutting-edge model are as follows:
- Credit sale contracts allow patients to pay their installments with credit cards.
- Consumers don’t have to sign a contract with anyone but their healthcare provider.
- The healthcare provider maintains the ability to sell it’s credit-sale contracts for a fee, or keep them and earn the interest. This heightens flexibility for the healthcare provider and keeps the control in their hands.
Is my practice required to file?
Healthcare providers operating in the states listed below are required to file.
| Colorado | Oklahoma |
| District of Columbia | South Carolina |
| Indiana | Texas |
| Iowa | Utah |
| Kansas | West Virginia |
| Louisiana | Wisconsin |
| Maine | Wyoming |
A separate registration is required for each state in which Retail Installment Agreements are being originated. Separate registration may also be required for each location if there are multiple practice locations in a given state.
Does my practice have to report on annual volume?
Providers utilizing the Cash Up Front funding model are required to pay only the annual notification fee for each state. Some states may also require practices to report on the practices year-end balances of loan volume outstanding or funded. Since the Cash Up Front funding model facilitates the purchasing of loan volume from the practice at the time of origination, most providers will report a year-end balance of $0. The volume fees associated with payment plans originated by the provider will be assumed by the capital partner.
In states where volume reporting is required, only providers utilizing the Cash Over Time funding model are required to report and pay on year-end balances, in addition to the annual notification fee.
How To Register and/or File
HFD has compiled the list of requirements here.
- Simply, find your state to review the requirements in the table below
- Next, click the link to the state website with links to the filing resources
- Finally, volume reporting may also be required. Providers in the required states are automatically subscribed to receive these reports via email during onboarding
See our 2024 Compliance Registration Guide for a list of requirements for registration and renewal for each state.
*Fees, requirements, and registration periods are subject to change at any time by the governing state