If you are receiving unsolicited phone calls from an entity pretending to be ACCC (a trusted non-profit credit counseling agency), please be assured that ACCC’s policy is NEVER to contact you unless you’ve explicitly requested us to call you. Also be cautious of emails from an unusual or unfamiliar domain. ACCC’s domain extension is @consumercredit.com, and any emails using a different extension should be treated with suspicion.


ACCC’s Client Login allows current clients to access their program information, including the due date, program benefits, and other documents.

Select a Client Login below based on the service that you are currently enrolled in:

Debt Management Program

Client Login

Not yet a client, but looking to get started?

ACCC offers debt relief options to individuals and families that are suffering from stress related to credit card debt by providing effective credit counseling, helping to consolidate debt, and advising on debt management.

Get Started


You are now leaving the Consumer Credit website and are going to a website that is not operated by ACCC. We are not responsible for the content or availability of linked sites.

Are you sure you want to leave?

No, return me to the previous page.


What Do You Know About Filing Bankruptcy?

Our debt counselors know that the bankruptcy process is a stressful time in life. It means you are facing financial catastrophe. Therefore it is important that consumers understand this process, its advantages and disadvantages thoroughly. So, do you know enough about filing bankruptcy?

ACCC explains what filing bankruptcy is about.

ACCC explains what filing bankruptcy is about.

Filing Bankruptcy – Advantages & Disadvantages

What is Bankruptcy?

Bankruptcy is a proceeding in a federal court in which an insolvent debtor’s assets are liquidated and the debtor is relieved of further liability. There are two types of bankruptcy:

  • Chapter 7 that deals with liquidation
  • Chapter 13 that deals with reorganization

The decision about filing bankruptcy is incredibly difficult. Therefore, it is best for consumers to be aware of all the alternatives available to them. It is important that consumers get advice about filing bankruptcy early and understand the process if they are considering this option for debt relief.

Advantages & Disadvantages of Filing Bankruptcy


  • Consumers can obtain a fresh financial start.
  • If you are eligible for Chapter 7, most of your unsecured debts may be forgiven or discharged. A secured debt is one which the creditor is entitled to collect by seizing and selling certain assets in lieu of missing payments. These include a home mortgage or car loan.
  • You may be able to keep (that is, exempt) many of your assets. However, state laws vary widely in defining which assets you can keep.
  • Collection efforts must stop as soon as you file for bankruptcy under Chapter 7 or Chapter 13.


  • A bankruptcy can remain on your credit record for 7-10 years. It can affect your future finances and ability to borrow funds.
  • A bankruptcy can impede your chances of getting a mortgage or car loan for some time.
  • You cannot discharge all your debt by simply filing for bankruptcy. Examples of such debt include child support, alimony, some student loans, divorce settlements and some income taxes. You should check with an attorney on the specific categories of debt that allowed for discharge.

Check out ACCC’s infographic on understanding bankruptcy.

filing bankruptcy


If you’re struggling to pay off debt, ACCC can help. Schedule a free credit counseling session with us today. 


Dilini is a Marketing Communications & Programs Associate at ACCC. To anyone, managing finances can be a real challenge! Any tips and tricks to help get through this are great! Dilini will share her experiences, tips, and tricks along the way through the Talking Cents blog. Stay tuned!

View all author posts →


Your Ultimate Money Management App

Meet CreditU, the ultimate one-stop debt and financial management app! See your full financial overview, including debts, income, expenses, and savings.

CreditU Apple App Store
Dev Tool:

Request: blog/what-do-you-know-about-filing-bankruptcy
Matched Rewrite Rule: blog/([^/]+)/?$
Matched Rewrite Query: post_type=post&name=what-do-you-know-about-filing-bankruptcy
Loaded Template: single.php