Press Releases and Media Advisories
COUNTDOWN TO BANKRUPTCY REFORM: New Law Takes Effect in 60 Days
August 17, 2005, 2:56 pm
As the recent reforms to bankruptcy law prepare to take effect, Springboard is available to answer questions about the impact and execution of the new requirements.
The new bankruptcy reform law (Bankruptcy Abuse Prevention and Consumer Protection Act of 2005) takes effect on October 17, 2005. Among key provisions is a requirement, for the first time, that consumers must participate in credit counseling from an approved, non-profit credit counseling agency prior to filing for bankruptcy. In addition, consumers who have filed for bankruptcy must participate in a financial education session before their debts are discharged.
Last year, 1.6 million Americans filed for bankruptcy. Beginning in two months, every new filer will talk to an approved credit counselor first.
Key Questions: What can consumers expect from credit counseling? How can credit counseling help consumers considering bankruptcy? How can they find a qualified counselor who operates with integrity? What are credit counseling agencies doing to get ready for increased demand for their services?
Who Has the Answers: As you prepare to cover the issues related to implementation of the bankruptcy reform legislation, Dianne Wilkman, President and CEO of Springboard Non-profit Consumer Credit Management, can answer these questions and more. Springboard, a community-based non-profit credit counseling agency, has been helping financially troubled consumers for over 30 years. They are members of the National Foundation for Credit Counseling and accredited by the Council on Accreditation of Services for Families and Children.
When: Ms. Wilkman is available by phone and by email as you are preparing your coverage of the impact of the new bankruptcy legislation or other matters related to credit counseling.
Contact: To arrange an interview with Ms. Wilkman, please call Springboard headquarters at 800-947-3752 x 702, or email Dianne@credit.org
Author: Dianne Wilkman
About Springboard Nonprofit Consumer Credit Management
Springboard is a nonprofit credit education and financial counseling organization founded in 1974. The agency offers personal financial education and assistance with money, credit and debt management through confidential counseling. Springboard is accredited by the Council on Accreditation, signifying high standards for agency governance, fiscal integrity, counselor certification and service delivery policies. The agency provides pre-bankruptcy counseling and debtor education as mandated by the bankruptcy reform law. Springboard is a HUD approved housing counseling agency and a member of the National Foundation for Credit Counseling, a national organization of nonprofit credit counseling agencies. The agency has several locations in California and offers face-to-face and nationwide phone counseling services. For more information on Springboard, call 1-800 WISE PLAN (1-800-947-3752) ext. 7750 or visit their web site at www.credit.org.
