Wednesday, September 21, 2005

Bankruptcy Reform and Credit Counseling

Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, most of the provisions that impact consumers will apply to any bankruptcy filed on or after October 17, 2005. Under provisions of the new law, you must meet with a credit counselor in the six months prior to applying for bankruptcy if your debt consists of primarily consumer debts. And before debts are discharged, you must attend money management classes at your expense.

The Office the United States Trustee is required to approve and maintain a list of credit counseling agencies to comply with the new law. Credit counseling may be obtained in person, over the phone or via the Internet. In the Southern District of California, there are currently 3 approved credit counseling agencies:

GreenPath, Inc.
38505 Country Club Drive, Suite 210
Farmington Hills, MI
48331-3429
800-630-6718

In Person (not available in all judicial districts), and Telephonic Counseling

Money Management International Inc.
9009 West Loop South, 7th Floor
Houston, TX 77096-1719
877-918-2227

In Person (not available in all judicial districts), Telephonic and Internet Counseling

Springboard Nonprofit Consumer Credit Management Inc.
4351 Latham Street
Riverside, CA 92501
800-947-3752

In Person (not available in all judicial districts), Telephonic and Internet Counseling

Credit counseling is a mandatory requirement under the new laws. Debtors planning on filing for bankruptcy on or after October 17, 2005 should contact an authorized credit counseling agency in order to be eligible for a Chapter 7 discharge.

We are a bankruptcy and debt relief agency. We help people file for bankruptcy. This publication is NOT INTENDED TO SERVE AS A SUBSTITUTE FOR LEGAL ADVICE. Please consult with a licensed attorney if you require legal advice.

About the Author: Carl H. Starrett II has been a licensed attorney since 1993 and is a member in good standing with the California State Bar and the San Diego County Bar Association. Mr. Starrett practices in the areas of bankruptcy, business litigation, construction, corporate planning and debt collection.

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