American Consumer Credit Counseling Launches Innovative New Bankruptcy Platform Tool for Consumers
The platform will provide consumers with a unique personalized client assessment action plan that outlines workable solutions to help consumers develop a healthy financial future.
Boston, MA (July 16, 2013)—Today, national nonprofit American Consumer Credit Counseling announced the launch of its new, in-depth bankruptcy platform called CounselorConnect that helps consumers going through bankruptcy filings obtain the required bankruptcy certificate. The new platform also provides consumers with access to a personalized assessment action plan that includes information and resources to help consumers with their household budgets, financial guidelines, net worth calculations, and also includes a bankruptcy counselor’s recommendations for the filer.
“Filing for bankruptcy can often be a very confusing and complex process,” said Steve Trumble, president and CEO of American Consumer Credit Counseling. “CounselorConnect not only offers users an easy-to-use and flexible platform for consumers, but it also presents debt repayment options and money management strategies personally designed by one of our certified bankruptcy counselors.”
Consumers can access the new platform online at any time and can start, stop and resume at their convenience, providing users with an alternative counseling option that they can tailor to their schedule.
The state-of-the-art platform will provide users with a 25-page customized complete assessment action plan that utilizes the information that the consumer puts into the system to produce a complete budget analysis along with detailed tips on ways to reduce expenses for his or her financial future. This in-depth document provides users with an individualized roadmap from one of the certified ACCC counselors and will highlight certain areas considered to be the consumer’s most difficult financial challenges.
“The assessment and action plan breaks down a user’s income, expenses, creditors, assets and liabilities and is followed up with a brief 10-minute end of counseling phone review to provide our consumers with the most hands-on method of counseling and to help ensure that they have the education and resources necessary to live a financially healthy future,” added Trumble.
US bankruptcy filings in the last year have declined by approximately 14 percent and in just three years, the number of consumer bankruptcy filings has plunged by 30 percent, with the biggest drop in filings coming from states hardest hit by the recession. The most common cause of bankruptcy is medical bills, which account for almost half (42 percent) of all filings and almost always result from a crisis that is beyond a person’s control according to a study conducted by ClearBankruptcy.com.
“Most people think of bankruptcy as an avoidable problem that results from lavish spending habits, but that isn’t usually the case,” said Trumble. “Very few people declare bankruptcy because they splurge on cars or luxury vacations. It’s usually because they’ve hit an unexpected rough patch such as being laid off or a stay in the hospital and don’t have enough savings to see their way through it.”
These kinds of crises that lead to bankruptcy can strike anyone, regardless of income or education level. According to a survey conducted by ACCC, more than half (53 percent) of the 1,985 participants who filed for bankruptcy had completed at least three years of college. Fourteen percent of those surveyed had a graduate degree. Another survey by ACCC indicates that of the 2,857 people who filed for bankruptcy, more have a higher annual salary of $60,000 (25 percent) than make $20,000 or less (20 percent).
American Consumer Credit Counseling’s certified and experienced counselors offer various financial education, counseling and debt management services to help consumers achieve long-term financial health and stability.
ACCC is a 501(c)3 organization, that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. For more information, contact ACCC:
- For credit counseling, call 800-769-3571
- For bankruptcy counseling. call 866-826-6924
- For housing counseling, call 866-826-7180
- For more information on financial education workshops in New England, call 800-769-3571 x1980
- Or visit us online at ConsumerCredit.com
About American Consumer Credit Counseling
American Consumer Credit Counseling (ACCC) is a non-profit 501(c)(3) organization dedicated to empowering consumers to achieve financial health through education, counseling, and debt management. ACCC provides individuals with practical solutions for solving financial problems and recognizes that consumers’ financial difficulties are often not the result of poor spending habits, but more frequently from extenuating circumstances beyond their control. As one of the nation’s leading providers of financial education and credit counseling services, ACCC works with consumers to help them with the best plan of action to reduce their debt and regain financial stability. ACCC is accredited by the Better Business Bureau and holds an A+ rating. It is also a member of the Association of Independent Consumer Credit Counseling Agencies. For more information or to access free financial education resources log on to ConsumerCredit.com or visit TalkingCentsBlog.com.