Bankruptcy law has problems, critics says (Atlanta Constitution Journal)
A reprinted article from the St. Paul Pioneer Press documents the effect of credit counselling in the first six months of the new bankruptcy law. One of the more interesting findings is:
Credit counseling is proving to be pricey for consumers and the agencies providing the service.Find more in this reprint of the article in the Atlanta Consitution JournalAgencies often reduce or waive fees because many people can't afford to pay for counseling. Vierling said he struggled to come up with the $50 for his counseling session.
Consumers paid on average about $38 for counseling sessions, according to the NFCC. That doesn't cover the cost of providing the service, it says.
The result is an estimated $12.4 million shortfall for its member agencies, which make up 70 percent of certified bankruptcy counselors.
