Overview
Pre-Filing: Click Here to Get Started
Bankruptcy Abuse Prevention and Consumer Protection Act
Bankruptcy is always a hot topic; perhaps never more than now. It’s hard not to think about the subject in light of the recently enacted legislation that makes it more difficult for some consumers to discharge their debts through bankruptcy. According to its proponents, the legislation will address the problem of consumers’ skyrocketing debt. Over the past decade, the number of Americans filing for bankruptcy has doubled and at least $40 billion in debt is now forgiven annually.
The “Bankruptcy Abuse Prevention and Consumer Protection Act of 2005” makes some sweeping changes to the former bankruptcy law. Impacting cases filed on or after October 17, 2005, the Act includes the development of a “means test.” The Trustee or any creditor can now bring a motion to dismiss a Chapter 7 bankruptcy if the debtor’s income is greater than the state median income. Certain debtors who meet a new standard would be shifted from a Chapter 7 bankruptcy to five-year repayment plan in Chapter 13.
The bill also includes two provisions mandating financial counseling and education: Before filing for bankruptcy, consumers would be required to have a briefing on the alternatives to bankruptcy; and before receiving a bankruptcy discharge a debtor would be required to complete “an instructional course concerning personal financial management.” These provisions were included to provide debtors in bankruptcy with the skills and tools needed to avoid future financial problems.
Money Management International is approved by the Executive Office of the United States Trustee (EOUST)* to deliver these counseling and educational services. In fact, Money Management International has a team of trained counselors who will work one-on-one with you to create a detailed personal financial assessment. During the assessment, the counselor will work with you to analyze your income, expenses, assets and liabilities and provide the client with a true and accurate picture of your financial situation.
You will be taken through all of the components of a typical credit counseling session. Upon completion of the bankruptcy counseling session, you will be issued a certificate of participation. This certificate will allow you to proceed with the bankruptcy process. It is our desire to make this delivery process as smooth and efficient as possible. Please call 877-918-2227 to speak with a counselor.
Counseling services are available by a variety of methods at convenient times. From the comfort of your home, you can
complete your counseling session by telephone,
Internet or Web chat. For your convenience, Money
Management International has a team of professional
counselors available 24/7 to assist you. In-person
counseling is available by appointment in all of the
local markets in which we operate. All counselors are
trained professionals who understand that each person
represents a unique situation and requires a unique
solution.
Visit www.BankruptcyCertificate.com or call
877-918-2227 to learn more or to schedule your
pre-filing counseling session.
Upon completion of the counseling session, you will be
issued a certificate of participation. This certificate will
allow you to proceed with the bankruptcy filing process.
We understand that each person that seeks assistance
has a unique financial situation. Our certified credit
counselors will work one-on-one with you to develop
a detailed personal financial assessment. During
the counseling session, we will review your income,
expenses, assets and liabilities. This in-depth process
will provide you with a true and accurate picture
of your financial situation. The personal financial
assessment is just the first piece that is developed to
help you determine the right solution for your financial
situation.
Counselors will work with you to develop:
- A personal financial assessment
- Reasonable and manageable spending plan
- Detailed action plan
- Short and long term financial goals
Around the Clock Service
For your convenience, Money
Management International has a team of professional
counselors available 24/7 to assist you. In-person
counseling is available by appointment in all of the
local markets in which we operate. All counselors are
trained professionals who understand that each person
represents a unique situation and requires a unique
solution.
Visit www.BankruptcyCertificate.com or call
877-918-2227 to learn more or to schedule your
pre-filing counseling session.
Upon completion of the counseling session, you will be
issued a certificate of participation. This certificate will
allow you to proceed with the bankruptcy filing process.
Money Management International can also provide you with
the pre-discharge education that you will need. During the
education program, our trained educators interact with
participants to ensure that everyone benefits from the
program. The program is designed to be a comprehensive
course that covers a variety of financial and budgeting
topics.
During the education program, you will receive tips and
tools for wise money management and credit use. You will
also discover how to:
- Set achievable financial goals
- Calculate net worth
- Create a livable budget
- Build a savings plan
In addition, the program facilitator will share with you how
to obtain credit reports, establish or re-establish credit,
dispute errors and protect yourself from identity theft.
Each participant will receive four workbooks designed for
use during and after the course for continued self-study.
Money Management International has a dedicated
education division, the Centers for Financial Education
(Centers), which will conduct all of the pre-discharge
education programs. For your convenience, these programs
are available by a variety of delivery methods including
telephone and Internet. In-person programs are available
in all of the local markets in which we operate. To visit our
market locations or register for an upcoming pre-discharge
education program, simply visit www.crediteducation.org or call 866-745-2227.
Upon completion of the program, you will be issued a
certificate of participation. This certificate will allow you
to proceed with the bankruptcy discharge process. It is
our desire to make this delivery process as smooth and
efficient as possible.
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