credit counseling agencies

• Supreme Court Takes Up Credit Repair Case On Arbitration: Implications For Credit Counseling Agencies

AICCCA's The Independent Counselor On October 11, 2011, the U.S. Supreme Court will hear the case of CompuCredit Corp. v. Greenwood, which asks the...

• Mondaq Business Briefing
• United States Law Articles in English

• Application Procedures and Criteria for Approval of Nonprofit Budget and Credit Counseling Agencies by United States Trustees,

• FR, February 01, 2008
• Proposed rules
• Justice Department

• California DFI: CA Money Transmission Act Does Not Apply to Credit Counseling Agencies

A new California Department of Financial Institutions ("CA DFI") Staff Opinion Letter makes clear that nonprofit credit counseling agencies ("CCAs") t...

• Mondaq Business Briefing
• United States Law Articles in English

• Irs Targets Credit Counseling Agencies

As the Internal Revenue Service moved to revoke the tax-exempt status of some large credit counseling agencies, the federal agency targeted a North Huntingdon, Westmoreland County-based company that still operates as a for-profit debt settlement business. IRS Commissioner Mark Everson said Monday that a two-year investigation of 63 credit counseling agencies nationwide has resulted so far in 41 agencies losing, or running into danger of losing, their charitable status.

• Tribune - Review / Pittsburgh Tribune - Review
• May 16, 2006

• Bankruptcy Abuse and Consumer Protection Act: Nonprofit budget and credit counseling agencies and personal financial management instructional course providers; United States Trustees approval,

• FR, July 05, 2006
• Rules
• Justice Department

• U.S. Trustee Program Announces Approval of Credit Counseling Agencies for Bankruptcy Filers in Areas Affected by Katrina

WASHINGTON, Oct. 4 /U.S. Newswire/ -- The United States Trustee Program today announced a temporary waiver of the statutory requirements for credit counseling for bankruptcy filers in Louisiana and the Southern District of Mississippi due to the effects of Hurricane Katrina. The Program also announced approval of 41 credit counseling agencies for bankruptcy filers. There are approved credit counseling agencies serving all federal judicial districts for which the United States Trustee Program is responsible. The list of approved credit counseling agencies is posted on the Program's web site at http://www.usdoj.gov/ust. More credit counseling agencies will be added to the list as they are approved by United States Trustees.

• U.S. Newswire
• October 04, 2005

• Credit-Counseling Agencies Can Help Eliminate Debt

Cindy Campbell owed $7,000 on her credit cards by the time she graduated college and was missing payments, paying over-limit charges and being hit with punitive interest rates. So Campbell signed up for a debt-management program and paid a lump sum to a credit-counseling agency, which distributed the money to six credit-card companies. At the same time, she cut her spending drastically.

• Deseret News (Salt Lake City)
• December 23, 2007

• Credit Counseling Agencies Coping with Increases in Clients

To handle the increase in clients, Collens is clearing the workload decks of his counselors so they can concentrate on counseling by shifting more non-counseling work to the clerical staff. A federal law change in 2005 requires anyone filing for bankruptcy to get credit counseling.

• Mississippi Business Journal, The
• September 01, 2009

• Colorado Springs Financial Briefs: May 19, 2006

An ongoing Internal Revenue Service investigation has uncovered that a large number of tax-exempt credit counseling agencies are not complying with tax-exempt operating laws. During the last two years, the IRS has been auditing 63 credit counseling agencies that generate more than half the industry's revenue.

• Colorado Springs Business Journal
• June 29, 2006

• Nclc Update: Credit Counseling Agencies' Compliance with State Licensing Laws Lax, and State Enforcement of Those Laws Weak

BOSTON, Nov. 18 /U.S. Newswire/ -- National Consumer Law Center today released a one-year update of its ground-breaking "Credit Counseling in Crisis" report, and the news is discouraging though not uniformly grim. The original report triggered a series of actions against the worst credit counseling agencies from the Federal Trade Commission, state attorneys general and the Congress. Both houses of Congress held hearings, with the Senate's final report condemning some of the industry's worst players and abuses and calling for stronger federal enforcement. Several state attorneys general and the Federal Trade Commission cracked down on some of the biggest offenders, with some states passing tough new laws or strengthening existing ones, and the Internal Revenue Service launched audits of ...

• U.S. Newswire
• November 18, 2004