CCCS 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.
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 a 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.