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PRESS RELEASE
For Immediate Release
June 30, 2005
U.S.
TRUSTEE PROGRAM BEGINS APPROVAL PROCESS FOR
BUDGET AND CREDIT COUNSELING AGENCIES,
FINANCIAL
MANAGEMENT INSTRUCTIONAL COURSES
WASHINGTON, D.C.-The United States Trustee Program ("Program")
announced today that on July 5, 2005, it will begin accepting
applications for approval as a budget and credit counseling
agency or provider of a financial management instructional
course for bankruptcy filers, under the Bankruptcy Abuse Prevention
and Consumer Protection Act ("BAPCPA") of 2005.
The application forms and related materials are posted on
the Program's web site at www.usdoj.gov/ust.
For additional information, applicants may contact the Program
at (202) 514-4100.
Under BAPCPA, which was enacted on April 20, 2005,
all individual debtors who file bankruptcy on or after
October 17, 2005, must undergo credit counseling within
six months before they file bankruptcy and must complete a
financial management instructional course after they file
bankruptcy. With certain exceptions, an individual is not
eligible to file bankruptcy without completing credit counseling,
and is not eligible to receive a bankruptcy discharge without
completing a financial management instructional course.
BAPCPA directs the U.S. Trustee to approve budget and credit
counseling agencies and providers of financial management
instructional courses according to criteria set forth in the
law. It also directs the Clerk of the Bankruptcy Court to
maintain a publicly available list of U.S. Trustee-approved
budget and credit counseling agencies and financial management
instructional courses.
The United States Trustee Program is the component
of the Justice Department that promotes integrity and efficiency
in the nation's bankruptcy system by enforcing bankruptcy
laws, providing oversight of private trustees, and maintaining
operational excellence. The Program has 21 regions and 95
field offices. The Program does not cover Alabama or North
Carolina.
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