CREDIT COUNSELING DISCLOSURES (per 28 C.F.R. § 58.20(l))
1.Fee Policy:
Credit.org
charges
$45.00
for Pre-filing Credit Counseling for online or phone counseling. These fees apply to either single or joint sessions. There are no additional fees for issuing a certificate of completion.
2.Fee Waiver/Reduction Policy:
Clients who are experiencing a financial hardship may qualify for a fee waiver or reduction. Clients with household income less than 150% of the U.S. Department of Health and Human Services poverty guidelines may qualify for a full fee waiver. All others may qualify for a reduced fee based on income verification. Clients must submit a recent income statement or tax return and include household size, course selection, and identification number to
bkfeedback@credit.org.
3.Language Access:
Credit.org
provides free services in English and Spanish. Interpreter assistance for other languages is available upon request at no additional charge.
4.Funding Sources:
Credit.org
receives support through donations and grants from various sources, including mortgage lenders, servicers, government agencies, program administrators, and grantors like the U.S. Department of Housing and Urban Development, as well as other non-profit and for-profit organizations. In some cases, we may receive a fee from a mortgage lender, servicer, or one of our industry partners for services we provide.
5.Counselor Qualifications:
All counselors have an average of more than five years of experience in counseling, education, lending, or a credit-related field and are certified by the National Foundation for Credit Counseling.
6.Impact on Credit Reports:
Participation in credit counseling or a Debt Management Plan (DMP) may be reflected in credit reports according to individual creditor reporting policies. Bankruptcy filing is public and remains on a credit report for 7-10 years.
7.Referral Fee Policy:
Credit.org
does not pay or receive fees or other consideration for referrals.
8.Certificate Issuance:
Certificates of completion are issued promptly within one (1) business day upon successful completion of Pre-filing Credit Counseling. Certificates are valid for 180 days from the date of issuance.
9.Alternative Payment Schedule Negotiation:
While
Credit.org
does not create payment schedules under 11
U.S.C. § 502(k). Clients may be referred to another approved agency. No additional fees are charged by
Credit.org
for referrals.
10.Information Sharing with EOUST and Bankruptcy Administrator:
Credit.org
may disclose client information to the U.S. Trustee or the Bankruptcy Administrator in connection with oversight, investigations, on-site visits, or quality of service reviews.
11.Scope of EOUST and Bankruptcy Administrator Review:
The U.S. Trustee or Bankruptcy Administrator has reviewed only Credit.org's credit counseling and debtor education services. Other services are not reviewed or approved.
12.Certificate Conditions:
Clients will receive a certificate only after fully completing the counseling session.
