• Bankruptcy Protection
• Wealth Management
• Credit Counseling
• Debt Settlement
• Asset Protection

About Us

Hess Kennedy and Company - Hess Kennedy Law Firm is an international law firm with offices in the United States, Europe, and the Caribbean. We currently manage $6.8 Billion Dollars for 3500 clients worldwide.

Hess Kennedy and Company - Hess Kennedy Law Firm believes that integrity, honesty, and values play a major role in the culture of a company. Therefore we take great measures to ensure that all of our staff shares in our vision and commitment to professional excellence. We believe that it is upon this cornerstone that sets our company apart from others and our clients feel a sense of true security and well being the minute they engage with our company. When it comes to the details and consideration of the things that really matter you can rest easy knowing that when you work with Hess Kennedy and Company - Hess Kennedy Law Firm nothing is overlooked.

Contact Us

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USA OFFICES:
CLC Coral Springs Florida
210 North University Drive , Second Floor
Coral springs , FL 33071
Florida@hesskennedylaw.com
954-345-7848 Tel.
954-344-8438 Fax.

CLC New York City
1622 York Avenue
New York , NY 33432
New.York@hesskennedylaw.com

CLC London United Kingdom
c/o Edward Cherry
10^th Floor, 1 Stephen Street
London , W1T 1AT , UK
London@hesskennedylaw.com

CLC Hilton Head South Carolina
112-A Arrow Road
Hilton Head , SC 29938-6658
South.Carolina@hesskennedylaw.com  

CLC Costa Mesa California
1011 Brioso Drive, Suite 101A
Costa Mesa , CA 92627
California@hesskennedylaw.com

CLC Chicago Illinois
954 WEST GRACE STREET
CHICAGO , IL 60613
Illinois@hesskennedylaw.com

CLC Stockholm Sweden
WARFVINGES VAG 24
P.O. BOX 30107
SE-104 25 STOCKHOLM
Sweden@hesskennedylaw.com

CLC Grand Cayman
WALKER HOUSE, 87 MARY STREET
GEORGETOWN
GRAND CAYMAN, KY1-9001
CAYMAN ISLANDS
Grand.Cayman@hesskennedylaw.com

Hess Kennedy and Company Bankruptcy Protection

Hess Kennedy and Company - Hess Kennedy Law Firm explains Bankruptcy is defined as a legal finding that declares the inability or impairment of ability of a debtor whether an individual or a business entity, to pay its creditors. An insolvent individual debtor, that is a debtor with more liabilities than assets, can use the personal bankruptcy process to legally avoid paying almost all of his or her personal liabilities either temporarily or permanently.

Bankruptcy law in United States which is codified in Title 11 of United States Codes as Bankruptcy Code aims to give an honest debtor a "fresh start" in life unburdened by most of his former debts. An individual debtor can seek relief by filing petitions according to the chapters in the code that deal with personal bankruptcy. For individuals, the two most relevant chapters in the code are Chapter 7 and Chapter 13. If you have any questions regarding this please contact Hess Kennedy and Company - Hess Kennedy Law Firm.

Chapter 7 gives a discharge to the debtor by allowing a court appointed trustee to liquidate the non exempt assets of debtor and distribute the proceeds among the creditors. Chapter 13 allows the debtors to payoff whole or part of their debts through a trustee according to a court approved repayment plan usually lasting from three to five years.

Debtor has to decide which method suits him best. While debtor can get a discharge fairly promptly by filing under Chapter 7, this method might entail losing important personal property like the home, if it is not exempted. If you need help understanding this please contact Hess Kennedy and Company - Hess Kennedy Law Firm. On the other hand, Chapter 13 bankruptcy allows a debtor the use of property and consolidates his debts together. However since the debtor has to stick to a repayment plan, he must have a regular income and accept the fact that full discharge can only come at the completion of repayment plan.

Concerns of the debtor

Hess Kennedy and Company - Hess Kennedy Law Firm wants to make it clear that another advantage to the debtor that results from personal bankruptcy filing is that all actions already started against the debtor must cease and no further actions can be initiated by creditors once the petition is filed, due to the 'automatic stay' that comes in to effect.

Bankruptcy filing is a matter of public record, but in practice hardly anybody will find this out unless they are personally involved in the case. However, the bankruptcy filing will be on the debtor's credit record for ten years. Hess Kennedy and Company - Hess Kennedy Law Firm explains more. Debtor can hope to obtain fresh credit fairly quickly after he is discharged, in comparison to a heavily burdened debtor. Decision of course depends on the new creditor and is fairly complex with many other factors also contributing.

Whether a personal bankruptcy filing will affect the husband or the wife of the debtor will depend on the State the filing is done and on whether some of the debts are secured.

Hess Kennedy and Company - Hess Kennedy Law Firm wants you to know that in 2005 Congress made several changes to bankruptcy law to prevent abuse. These include, 'means testing' and filing of tax returns to see whether debtors can in fact pay the debts instead of avoiding them, a two year residency requirement in the State concerned to prevent debtors taking advantage of differences between states as to property exemptions etc., and mandatory debt counseling before filing among others.

Hess Kennedy and Company Wealth Management

Hess Kennedy and Company - Hess Kennedy Law Firm says for wealth management whether you are planning for college, a new career, marriage, or retirement, at Hess Kennedy and Company - Hess Kennedy Law Firm we realize that making decisions around these life events can be challenging. We have the tools to get you started, and our Financial Advisors can help lead you where you want to go-just talk to us.

Retirement
Create a retirement strategy to fit your needs and lifestyle, no matter what stage of your career or retirement you are in.

Job Change
If you're thinking of changing jobs, carefully consider your options before making any decisions regarding funds in your employer's retirement plan-the choice you make now can have a significant impact on retirement savings.

College
Parents and students-find out about the best way to save and pay for an education.

Major Purchase
It may be your dream to buy a boat, take an extended vacation, or purchase a new home. Hess Kennedy and Company - Hess Kennedy Law Firm can help make a major purchase become a reality.

Change in Marital Status
When you have a change in marital status, you should also consider how the change will impact your finances.

Inheritance
Inheriting a large sum of money can be an once-in-a-lifetime event that could help you create a solid financial foundation.

Estate
Estate planning is not just for the very wealthy. If you wish to control the distribution of your assets and reduce the tax burden to your heirs, you should have an effective estate plan in place.

Hess Kennedy and Company Credit Counseling

Hess Kennedy and Company - Hess Kennedy Law Firm will work with approved debt consolidation organizations that negotiate with over 50,000 creditors and we are confident that we will be able to help you to develop a debt consolidation repayment plan or credit card management plan that will fit your budget and help you to reach your goal of becoming DEBT FREE! Remember THERE IS LIFE AFTER DEBT and we will help you get back on track

Credit Card Management

If you carry a balance, a credit card debt can be like a very expensive loan made by banks, gasoline companies or department stores. These credit card debts yield high profits to their issuers for several reasons. The most important is the high rate of interest (as high as 33% each year).

Interest from a credit card alone can account for the bulk of the profits earned by the bank that issued you the credit card. Also, many credit card companies charge an annual fee for issuing you the credit card, and most of these companies charge late fees, over-the-limit fees and other miscellaneous charges. Finally, the banks and loan companies profit by charging the merchants and service providers a fee each time a customer uses the loan company's credit card in the merchant's establishment.

Our debt consolidation and credit card management program can help you put an end to these high interest credit card debts. A Certified Debt Counselor will contact you within the next 24 hours with your free consultation. Please have your most recent Credit Card Statements available and we will show you how to consolidate them to save you from 20% to as much as 60% in monthly payments!

Hess Kennedy and Company Debt Settlement

Notice To Consumers
IMPORTANT PLEASE READ

Hess Kennedy and Company - Hess Kennedy Law Firm says if you are having debt problems, you may feel overwhelmed and powerless.  During periods of financial hardship, you may not have the resources to pay pressing debts, to meet family needs, and to get legal help.  You may feel helpless to fight debt collectors pressing you for payment or threatening to seize your home, car, or other possessions.

We will help you make the best choices possible despite difficult financial circumstances.  Hess Kennedy and Company - Hess Kennedy Law Firm will help you decide whether there are debts you can ignore and what your options are when you cannot ignore a particular debt.  Most important, we will make sure that your rights as a consumer are protected.  Many state and federal laws are designed to help people facing financial problems.

Most people in financial distress will first want to deal with the worst symptoms of a deteriorating financial situation.  However, you should never make a decision based upon what a debt collector tells you.  If you have an issue, have the debt collector call your attorney three-way to confirm what they have just said.  Or, tell the debt collector that you need to call your attorney first, or better yet, ask the debt collector to contact us directly.

When your financial condition is such that you cannot meet your monthly payment requirements, we are here to develop a long-term strategy to deal with your debt problems.  This strategy involves figuring out those debts that you need to repay, and understanding the likely consequences if you cannot pay certain debts.

The first discipline that you need to learn is keeping a log of your income and expenses for a few months.  You should have already submitted an income statement worksheet to the lawyer referral firm that referred you to our law firm.  Hess Kennedy and Company - Hess Kennedy Law Firm will make sure that we have this.

The second discipline is determining the priority of your debt.  Debts with collateral are top priority.  These include mortgages, rent, car loans, and loans secured by household goods.  Debts without collateral are low priority debts.  These include credit cards, charge cards, medical bills, gasoline cards, payday loans, and loans from family or friends.

The third discipline involves identifying those debts that should be paid first. 
Always pay family necessities.  This means food and unavoidable medical expenses. 

Next pay your housing related bills.  Pay your mortgage or rent if at all possible.  If you own a home, pay your non-deferrable real estate taxes and your insurance unless they are included in the monthly payment.  Failure to pay these bills can result in the loss of your home or apartment.  If you are having a serious problem that requires you to move, you might stop paying the mortgage or rent.  When you do so, do not spend this money.  Hess Kennedy and Company - Hess Kennedy Law Firm says save this money as a fund to use when you move, and to put down any required down payment.

Pay the minimum required to keep your essential utility service.  You should pay the minimum payment necessary to avoid disconnection.  It would not make sense to work hard to keep your house or apartment only to not be able to live there because of no utility service. 

Pay car loans or car leases if you need to keep your car. If you need your car to get to work or for other essential transportation you should make your car payment your next priority after food, housing costs, and utilities.  You may want to pay for the car first if the car is necessary to keep your job. 

You must pay your child support debts.  A child support debt will not go away.  If you need to modify a final order of child support obligation, then do it.  You will have to prove that your financial condition has dramatically changed, and some states have minimum thresholds.  However, if you do not make these payments, you can lose your license and go to jail. 

Income tax debts are a high priority.  You must pay income taxes you owe that are not automatically deducted from your wages.  You must pay file your federal income tax returns, even if you do not have the money to pay the tax liability.  The government has powerful collection rights that other creditors do not have, particularly if you do not file your returns.  If your income has been reduced due to a change in circumstances, you can have your tax liability reduced. 

Loans without collateral are low priority.  Most credit card debts, doctor and hospital bills, and other debts, such as open accounts with merchants, and similar debts are low priority.  You have not secured any property with these debts, and in the short term, creditors cannot hurt you.

Do not move a debt up in priority because a creditor or debt collector threatens to sue you.  Many threats to sue are not carried out.  Even if the creditor does sue, it will take a while before the collector can seize any property, and much of your property may be exempt from seizure. 

Court judgments against you move a debt up in priority, but less than you think.  After a collector obtains a court judgment, that debt is often higher priority because the creditor can now ask a court to seize certain pieces of property, wages, and bank accounts.  However, as to whether or not it is a serious threat will depend upon your state’s law, the value of the property, and your income. 

Debt collection efforts should never move up a debt’s priority.  Be polite to the debt collector, but make your own choices.  Debt collectors are unlikely to give you good advice.  Debt collectors may be most aggressive when trying to get you to pay debts that should be paid last, if at all.  You should never listen to what a debt collector says until you have had time to contact your lawyer or paralegal. 

Threats to ruin your credit record should never move up a debt’s priority.   Many collectors that threaten to report your delinquency to a credit bureau have already done so.  If the creditor has not yet reported the status of your account to a credit bureau, it is unlikely that a collector hired by that creditor will do so. 

Refinancing is rarely the answer.  You should always be careful about refinancing.  It can be very expensive and it can give creditors more opportunities to seize your important assets.

You have retained this law firm because you can no longer afford the required payments to your creditors each month.  The objective is to achieve a settlement on the balances owed to your creditors.  Although in our experience, creditors accept settlement offers, we must disclose that there are inherent risks with not making payments to your creditors.  Some of these risks include:  late fees, penalties, and interest will continue to accrue on the consumers debt until the creditors accept and receive a settlement; (2) a creditor(s) may still sue to collect on the debts and garnish your wages; (3) interest rates applicable to the debt may increase; (4) any money saved in negotiating a settlement with a creditor must be treated as income for tax purposes; and (5) a debt settled for less than the full amount owed may result in a negative notation on your credit report. Hess Kennedy and Company - Hess Kennedy Law Firm

Hess Kennedy and Company Asset Protection

Hess Kennedy and Company - Hess Kennedy Law Firm is your premiere source for asset protection and financial privacy when it comes to business and individual assets. With offices in Florida, New York, California, Grand Cayman, Singapore, and soon opening in Sweden, Hess Kennedy and Company - Hess Kennedy Law Firm will consult with you to ensure confidentiality of all your information and to make sure your service is personalized specifically for your needs.

You are a very successful business owner, entrepreneur, or professional who has worked all your life to grow your wealth to give you and the people you love lifelong financial peace of mind and security. In one brief meeting we will show you to what extent your assets are at risk.

Some Threats to Your Assets Abound

• Frivolous lawsuits
• A negligence or injury claim, whether justified or not, that exceeds any insurance coverage you may have including an umbrella policy
• Breach of contract through no fault of your own
• A professional malpractice suit
• Lawsuits from disgruntled business partners or employees
• Loan guarantees
• Huge fines and penalties for violating state or federal law because of the actions of an employee
• Seizure of your primary residence or other assets without due process by a government agencies with forfeiture power-The Patriot Act
• Collection attorneys
• Creditors
• The IRS-huge tax bill and escalating penalties following an IRS audit
• Divorce

Customer Service  - Hess Kennedy and Company

CONTACT CUSTOMER SERVICE

Hess Kennedy and Company - Hess Kennedy Law Firm says it may take time to contact your creditors and assist you with your request, so please give us 3 business days (please be advised that holidays may delay response time) to research and respond to you with a resolution to your request. It is very important that you include the telephone number or e-mail address at which to contact you. If you are asking for a call back please indicate the best time to reach you. Please remember to continue to monitor your statements. Thank you.

If you prefer to speak directly with a Customer Service Representative you may call us at 1-866-681-2263. Please note the most efficient way to contact Customer Service is in filling out the form below.

Hess Kennedy and Company - Hess Kennedy Law Firm Payment Address and Instructions

The following payment instructions are only for clients that have already formally enrolled in the program by making their first payment.

PAYMENT ADDRESS

After making the first payment all subsequent payments should be mailed to:

Hess Kennedy and Company
PO Box 854
Syosset, NY 11791

VERY IMPORTANT
1. All payments must be made payable to "Hess Kennedy and Company".
2. Hess Kennedy and Company will not accept cash or personal checks as payment.
3. Hess Kennedy and Company gladly accepts certified checks, money orders, bank checks, and Western Union Quick Collect. Please see instructions below.
4. Please make sure you clearly print your name and social security number on all payments.

As a means of ensuring timely payments, we recommend the use of Western Union "Quick Collect" Service. The cost of Western Union "Quick Collect" Service is approximately the same as a guaranteed overnight delivery service.

WESTERN UNION

How to use Western Union "Quick Collect" Service:
1.Go to a Western Union designated facility.
2.Select the Western Union "Quick Collect" form (Blue Form).
3.Complete the left-hand side of the form. Your account number will be your social security number. The city and state code will be "CCOADMP, FL". Remember to make the payment payable to "Hess Kennedy and Company".
4.If you need assistance, ask the cashier.

ELECTRONIC FUNDS TRANSFER

Hess Kennedy and Company can have your monthly payments electronically withdrawn from your bank account. This process is called Electronic Funds Transfer or EFT.

Before enrolling, we would like you to read the following "Frequently Asked Questions". If you would like to enroll in the EFT program, there is a button at the end of this section that will link you to the appropriate form. You must print and complete the forms and fax it back to Hess Kennedy and Company.

EFT Frequently Asked Questions

When a counselor sets up an EFT at the onset of the program, how long does it take to get started?

If your account was set up on EFT by your counselor, the second payment and all future payments will be withdrawn from your checking account on the date you requested.


How long will it take to set up an account on the EFT program when it is set up through customer service?

Once you fill out the required paperwork we will process your EFT within 72 hours.

What dates are EFT payments pulled?

EFT’s are pulled on the date you specified when you first joined the program. Your creditor due dates should be 15 days after your EFT is pulled.

Can a due date be changed once the EFT is established?

You may change your due date but you must be aware that in doing so you may have to change creditor due dates. If this is not done you may incur late fees from your creditors. Your creditor due date should be 15 days after the EFT debit date. Please be aware if you change your EFT date it might cause a delay or loss of APP benefits.

What happens if a payment is returned for insufficient funds?

If your EFT payment is returned twice in a row, we will not attempt to withdraw the funds again. You will need to contact customer service to reestablish the EFT.

Does the client get charged for insufficient funds?

Insufficient funds for EFT payments are the same as bouncing a check. Your financial institution may assess a fee. Hess Kennedy and Company will charge a $25 insufficient funds handling fee. This fee will be added to your next EFT debit.

What if I want to stop the EFT program or need to change the bank information?

To stop an EFT or change bank information, we must receive an updated kwik pay form along with a copy of a voided check reflecting the new account info at least 3 business days prior to the date the funds are to be transferred. To expedite your request, please fax the information to 866-681-2266.

What if I want to increase/decrease the amount of the money you deducted from my account?

If you want to change the amount of money deducted from your account, you must call Customer Service 3 business days prior to the date the money is scheduled to be debited. If you are increasing a creditor's payment per their request and you have missed the EFT due date for the current month, send the increased funds directly to the creditor for that month only. Call Customer Service to increase your EFT payment for the following month. Example: Your EFT will be debited within 3 days and you received a letter to increase Creditor A from $20 to $25. Send Creditor A $5 directly for the current month and call Customer Service to have EFT increased by $5 for the following month.

Can I pay an account(s) off through EFT?

Accounts can be paid off through EFT. You must call 3 business days prior to the EFT due date to increase the amount deducted from your account. After the increase payment has been deducted, it is important that you call Customer Service to adjust your payment back to the regular payment amount.

There is a $5,000 limit on EFT's. If you would like to payoff accounts and the amount exceeds $5,000 please call Customer Service and they will assist you.

Is there a minimum payment required for EFT?

No.

Hess Kennedy and Company - Hess Kennedy Law Firm Important Information For New Clients

IMPORTANT -READ CAREFULLY

Please be sure to read your information package that we mailed to you. During the 30-90 day negotiation period, the proposed payment suggested by your counselor may not meet the minimum requirement of your creditors. We encourage you to pay your creditors the difference of the proposed payment and the minimum payment on your statement during the negotiation period. Once your proposal is accepted by your creditor, this will not be necessary.

To view your proposed payment amounts, please click here

Our program is, in part, a self-help program and we depend on you to take an active role in making the program a success. Telephone calls from your creditors are an indication that adjustments need to be made on your account. If your creditors are calling, it is your responsibility to assist us in determining the root of the problem as a measure of ensuring that program benefits are applied. Failure to follow up with your creditors may lead to program benefits not being applied, which may cause your balances to increase. In many cases this involves you calling your creditors to determine the reason why you are being called or why your statements due not reflect program benefits.

Following is a list of reasons why your creditors may be calling and how you can assist in stopping the calls:

• Your creditors have not received a scheduled payment - If you have been making timely payments through our program and your creditors are calling, you may need to adjust your due date with them. Your creditor due dates should coincide with our disbursal date which is usually 6 business days after we receive your payment. These payments should post within 15-20 business days after you made your payment to us. Call your creditors and advise them of payment disbursal dates and amounts based on the information that is provided for you on our info link. If they have not credited payments that were sent to them, the payments may still be in transit or they may be in the process of posting them to your account.
• Your Creditors did not accept or process your proposal-When you speak to the creditor, if they did not process a proposal and need another one or if it was denied, please contact us so we may adjust your account and/or send a new proposal. Try to get a fax # from your creditor so we may expedite the proposal acceptance process.
• It is normal to receive calls from your creditors after making your first payment. Refer them to Hess Kennedy and Company's Creditor Service number: 1-631-940-2418. Hess Kennedy and Company will confirm that you are enrolled in the program.
• Negotiation Period -After you enroll by making your first payment, the initial 30-90 day period is considered the negotiation period. Your creditors will not receive payments from us until you make a second payment to the program. Your creditors want to see evidence of commitment to the program. It is important that your second payment is made on time or your creditors may not accept your proposal. At the end of the negotiation period (30 - 90 days after your first payment), we encourage you to call your creditors to ensure that they processed and accepted your proposals. Some creditors may not re-age your account (bring your account back to a current status) until your proposal has been accepted and you have made three consecutive payments.

It is very important to remember to monitor your monthly statements to ensure you are receiving the appropriate benefits.

Hess Kennedy and Company – Hess Kennedy Law Firm

The Fourth Circuit Denies Litigation Immunity Defense to FDCPA Defendant

The Fourth Circuit held that there is no immunity for Fair Debt Collection Practices Act claims that accrue during or after litigation.  In Sayyed v. Wolpoff & Abramson, 485 F.3d 226 (4^th Cir. 2007), a consumer sued National Debt Collection firm Wolpoff & Abramson alleging that the debt collector violated the Fair Debt collection Practices Act by misrepresenting the amount of the debt during discovery.  This ruling opens the door for claims against debt collectors even when they sue a consumer.  Any consumer currently involved in litigation with a debt collector or that has been contacted by a debt collector should email: info@hesskennedylaw.com, Hess Kennedy and Company – Hess Kennedy Law Firm  for a free consultation.

The Federal Trade Commission Fall Workshop May Produce Debt Collection Reforms

The Federal Trade Commission is requesting comments in order to convene a fall workshop regarding the Fair Debt Collection Practices Act.  The Federal Agency responsible for consumer protection will investigate Abusive Credit Practices, the growth in the Debt Buyer Industry, Abuse of the Courts, Abuse of Mandatory Arbitration, and the Use of Electronic Collection Methods.  Any consumer who has been contacted by a third party debt collector should email: info@hesskennedylaw.com, Hess Kennedy and Company – Hess Kennedy Law Firm for a free consultation.

A Summary of Your Rights Under the Fair Credit Reporting Act

The Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies — Equifax, Experian, and TransUnion — to provide you with a free copy of your credit report, at your request, once every 12 months. The Federal Trade Commission (FTC), the nation's consumer protection agency, has prepared a brochure, Your Access to Free Credit Reports, explaining your rights under the FCRA and how to order a free annual credit report.

A credit report includes information on where you live, how you pay your bills, and whether you've been sued, arrested, or filed for bankruptcy. Nationwide consumer reporting companies sell the information in your report to creditors, insurers, employers, and other businesses that use it to evaluate your applications for credit, insurance, employment, or renting a home.

How do I order my free report?

You can order your free annual credit report online at annualcreditreport.com, by calling 1-877-322-8228, or by completing the Annual Credit Report Request Form and mailing it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

When you order, you need to provide your name, address, Social Security number, and date of birth. To verify your identity, you may need to provide some information that only you would know, like the amount of your monthly mortgage payment.

A Warning About "Imposter" Sites

The FTC advises consumers who order their free annual credit reports online to be sure to correctly spell annualcreditreport.com, or link to it from the FTC's website to avoid being misdirected to other websites that offer supposedly free reports, but only with the purchase of other products. While consumers may be offered additional products or services while on the authorized website, they are not required to make a purchase to receive their free annual credit reports.

Before You File for Personal Bankruptcy:

Information About Credit Counseling and Debtor Education Produced in cooperation with the Department of Justice’s U.S. Trustee Program.

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 launched a new era: With limited exceptions, people who plan to file for bankruptcy protection must get credit counseling from a government-approved organization within 180 days before they file. They also must complete a debtor education course to have their debts discharged.

The Department of Justice’s U.S. Trustee Program approves organizations to provide the mandatory credit counseling and debtor education. Only the counselors and educators that appear on the U.S. Trustee Program’s lists can advertise that they are, indeed, approved to provide the required counseling and debtor education. By law, the U.S. Trustee Program does not operate in Alabama and North Carolina; in these states, court officials called Bankruptcy Administrators approve pre-bankruptcy credit counseling organizations and pre-discharge debtor education course providers.

Counseling and Education Requirements

As a rule, pre-bankruptcy credit counseling and pre-discharge debtor education may not be provided at the same time. Credit counseling must take place before you file for bankruptcy; debtor education must take place after you file.

In general, you must file a certificate of credit counseling completion when you file for bankruptcy, and evidence of completion of debtor education after you file for bankruptcy – but before your debts are discharged. Only credit counseling organizations and debtor education course providers that have been approved by the U.S. Trustee Program may issue these certificates. To protect against fraud, the certificates are produced through a central automated system and are numbered.

Pre-bankruptcy Counseling

A pre-bankruptcy counseling session with an approved credit counseling organization should include an evaluation of your personal financial situation, a discussion of alternatives to bankruptcy, and a personal budget plan. A typical counseling session should last about 60 to 90 minutes, and can take place in person, on the phone, or online. The counseling organization is required to provide the counseling free of charge for those consumers who cannot afford to pay. If you cannot afford to pay a fee for credit counseling, you should request a fee waiver from the counseling organization before the session begins. Otherwise, you may be charged a fee for the counseling, which will generally be about $50, depending on where you live, the types of services you receive, and other factors. The counseling organization is required to discuss any fees with you before starting the counseling session.

Once you have completed the required counseling, you must get a certificate as proof. Check the U.S. Trustee’s website to be sure that you receive the certificate from a counseling organization that is approved in the judicial district where you are filing bankruptcy. Credit counseling organizations may not charge an extra fee for the certificate.

Post-Filing Debtor Education

A debtor education course by an approved provider should include information on developing a budget, managing money, using credit wisely, and other resources. Like pre-filing counseling, debtor education may be provided in person, on the phone, or online. The debtor education session might last longer than the pre-filing counseling – about two hours – and the typical fee is between $50 and $100. As with pre-filing counseling, if you are unabl]]> http://hesskennedy.bloghi.com/2007/10/04/hess-kennedy-and-company-hess-kennedy-law-firm.html#comments http://hesskennedy.bloghi.com/2007/08/03/questions-on-asset-protection-a-hess-kennedy-company.html http://hesskennedy.bloghi.com/2007/08/03/questions-on-asset-protection-a-hess-kennedy-company.html#comments Fri, 03 Aug 2007 14:07:21 +0000 http://hesskennedy.bloghi.com/2007/08/03/questions-on-asset-protection-a-hess-kennedy-company.html What protection is available by a revocable ‘living’ trust?   A revocable living trusts is a vehicle that is very helpful in avoiding probate. During your lifetime, you can transfer ownership of your assets to the revocable trust so that... What protection is available by a revocable ‘living’ trust?