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Wednesday, January 7, 2009
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Bankruptcy Industry![]() In early 2005, the Executive Office for United States Trustees (EOUST) was allowing private educational providers the opportunity to submit their financial education materials to become an approved provider of the EOUST under the new Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 that went into effect October 17, 2005.
The TakingControl Debtor Education Program™, a program of OneSource Educational Development Corporation, was submitted and approved on January 18, 2006 by the Executive Office for United States Trustees (EOUST) as a 2-hour personal financial management instructional course under the new Bankruptcy Code. The approved course is for classroom study, telephone study and web-based study. The 12-chapter instructional course incorporates the concepts and ideas of sound financial practices to help debtors develop the skills needed to change their attitude about all aspects of money. This improves their decision-making skills to become knowledgeable consumers in the area of savings, investing, use of credit and overall money management. Today, these two national consumer non-profit credit counseling agencies below are approved by the EOUST to perform bankruptcy counseling, as well as utilize and facilitate the TakingControl Debtor Education Program™ to individual debtors by telephone, classroom and Internet in 50 states. They also can issue certificates of completion in compliance with the new Bankruptcy Code.
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