Tuesday, May 16, 2006

Chutzpah, anyone?

Credit Counseling agencies not non-profit

Under the Bankruptcy Reform Act of 2005, which went into effect Oct. 15, consumers are required to seek financial counseling before filing for Chapter 7 bankruptcy.

The National Association of Consumer Bankruptcy Attorneys, which opposes the credit counseling requirement because of the additional financial burden it places on those already distressed, said the report was cause for concern.

"We have to send our clients to these credit counseling agencies, and the IRS is pointing out that many of them have questionable business practices," said Bradford Botes, executive director of the association.

I don't think anyone is surprised that many, if not most, of the "non-profit" credit counseling agencies are not non-profit.

What galls me is a lawyer saying that targetting those most in need is the bad part of it... I can't even comment further. A lawyer complaining about targetting those least able to defend themselves? I wonder where the term "ambulance chaser" comes from.


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