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July 13, 2005

Credit counseling agencies must be approved by the

Executive Office for U.S. Trustees. This resulted from the Bankruptcy Reform Act adopted earlier this year.

This act among other things, requires someone who would like to declare a bankruptcy, enter a mandatory credit counseling. Only those credit counseling outfits that are approved by the government will have the right to counsel you.

Sort of a preferred vendor list, but for your protection ...
And those credit counseling agencies must be not for profit.

Posted in Credit Counseling at July 13, 2005 12:46 AM

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