.: Latest News

:: New Bankruptcy Counseling Package Coming Soon :: Mar 13, 2007 - 9:42 pm

The BAPCPA law has created a need for a verifiable way in which to provide the mandatory 90–minute pre-bankruptcy counseling and post-filing debtor education sessions. The Institute for Financial Counseling (IFC) has developed two complimentary programs to satisfy these new Federal requirements.

Mind over Money: Pre-Bankruptcy Counseling software
The Mind over Money: Pre-Bankruptcy Counseling software has been designed to guide the counselor and client through the 90-minute briefing required for consumers seeking to file bankruptcy. The software covers the following four essential components as outlined by the U.S. Department of Justice (DOJ).

1. Analysis of the current financial situation
2. Guided exploration of the underlying cause of debt
3. Comprehensive examination of all the alternatives
4. Formulation of a spending plan and a solution

This breakthrough software will be made available to certified counselors who want to deliver optimum counseling with a feature-rich, easy-to-use guidance tool. This program was designed with both the counselor and client in mind. With its user-friendly interface and intuitive design, it will help counselors facilitate the pre-bankruptcy counseling process while meeting the requirements of BAPCA. Users will log on using their membership ID number to begin the streamlined step- by-step counseling session. With this feature-rich, web-based software, counselors will enter client data and retrieve valuable support resources along the way.

Resources include:

Proven counseling strategies
Answers to frequently asked questions
The “best of the best” cost cutting ideas
Action plan templates
Federal and State consumer resources
Essential credit card and credit report information
Calculators for computing debt-to-income ratio, net worth, expense category totals, and credit card payment projections.

Clients will come away from the session with a clear understanding of their financial situation, where they want to go, and how they are going to get there. They will have a solid spending plan in place along with action plans and resources that target client-centered short and long-term goals. Last, but not least, the program generates a verifiable Certificate of Completion.

Mind over Money: Pre-Bankruptcy Counseling delivers the support and structure you need during this time of change within the financial counseling industry.

:: Post-Bankruptcy Education Program :: Mar 13, 2007 - 9:30 pm

The Post-Bankruptcy Education Program was designed to fulfill the Department of Justice requirements for post-bankruptcy debtor filing education. It includes helpful resources for managing money, tips for using credit wisely, and information and forms for developing a healthy budget. This program will originally arrive in manual format, but monitor our website as an online version is coming soon.