CREDIT COUNSELING DISCLOSURES (per 28 C.F.R. § 58.20(l))
1.Fee Policy:
Credit.org
charges
$45.00
for pre-filing credit counseling provided online
or by telephone. The fee applies to single or joint sessions. No separate fee is
charged to generate or issue the certificate of completion.
2.Fee Waiver/Reduction Policy:
Credit.org
waives fees in whole or in part whenever a
lack of ability to pay is demonstrated. A client presumptively lacks the ability to pay if
household current income is less than 150% of the poverty guidelines updated
periodically by the U.S. Department of Health and Human Services for a household
of the size involved. Based on income information submitted, the presumption may
be rebutted, and a reduced fee may apply when the information indicates an ability to
pay a reduced amount. To request a fee waiver or reduction, submit a recent income
statement or tax return and include household size, course selection, and an
identification number to
bkfeedback@credit.org.
3.Language Access:
Credit.org
provides free bilingual counseling services in English
and Spanish. Credit.org does not provide professional interpreter assistance for
languages other than English or Spanish. Clients needing services in another
language may email
bkfeedback@credit.org; Credit.org will promptly direct the client
to an approved nonprofit credit counseling agency that can provide counseling in the
requested language.
4.Funding Sources:
Credit.org’s counseling services are funded through a combination
of client fees (when charged), donations, grants, and other support from public and
private sources. Funding sources may include government agencies and program
administrators, foundations and grantors, and community and financial-industry
partners. Funding sources do not determine the counseling options discussed or the
information provided.
5.Counselor Qualifications:
Credit.org’s credit counseling services are provided by
trained, qualified counselors who meet the training, certification, experience, and
continuing education requirements applicable to approved credit counseling
agencies under 28 C.F.R. Part 58. Counselors complete ongoing training and
continuing education to maintain competency in budgeting, credit, debt, and housing-related counseling.
6.Impact on Credit Reports:
Credit.org may discuss multiple alternatives to
address the client’s financial situation (for example, budgeting strategies,
creditor repayment arrangements, a Debt Management Plan (DMP), and
bankruptcy). Each alternative may have different potential impacts on a credit report
and credit score depending on individual circumstances and creditor reporting
practices.
Credit.org
does not provide information to credit reporting agencies
regarding whether credit counseling was requested or received; however, creditors
may report account status changes or repayment arrangements. Bankruptcy filings
are public court records and may be reported on a consumer report for up to 10
years.
7.Referral Fee Policy:
Credit.org
maintains a policy prohibiting
payment or receipt of referral fees for the referral of clients, except under a fair share
agreement.
8.Certificate Issuance:
A certificate of completion is sent promptly, and no later than
one (1) business day, after completion of pre-filing credit counseling services
(including the related budget analysis). A certificate is not withheld for any reason
once counseling services are completed, and counseling services are not considered
incomplete solely due to nonpayment of a fee. Credit counseling must be completed
within the 180-day period ending on the date a bankruptcy petition is filed, and the
certificate reflects the counseling completion date.
9.Alternative Payment Schedule Negotiation:
Clients have the opportunity to negotiate
an alternative payment schedule with regard to each unsecured consumer debt
under the terms set forth in 11 U.S.C. § 502(k).
Credit.org
does not provide this
service. If requested, Credit.org may refer clients to another approved agency that
provides this service. Credit.org does not charge an additional fee for making a
referral; however, clients might incur additional fees in connection with services
provided by the referred agency.
10.Information Sharing with EOUST and Bankruptcy Administrator:
Credit.org
might
disclose client information to the United States Trustee (or the Bankruptcy
Administrator, as applicable) in connection with the United States Trustee’s oversight
of Credit.org, or during the investigation of complaints, during on-site visits, or during
quality of service reviews.
11.Scope of EOUST and Bankruptcy Administrator Review:
The United States Trustee
has reviewed only Credit.org’s credit counseling services and, if applicable,
Credit.org’s services as a provider of a personal financial management instructional
course pursuant to 11 U.S.C. § 111(d). The United States Trustee has neither
reviewed nor approved any other services
Credit.org
provides to clients of the
agency.
12.Certificate Conditions:
A client will receive a certificate only if the client completes
counseling services.
