Prebankruptcy Credit Counseling

by Clancy, Noreen; Carroll, Stephen J.

• ISBN13: 9780833042057
• ISBN10: 083304205X
• Format: Paperback
• Copyright: 2007-10-23
• Publisher: RAND Corporation

Summary

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 provided new requirements for bankruptcy filers and gave the U.S. Trustee Program (USTP) new responsibility. Individual filers must now receive credit counseling during the 180 days before filing. USTP is charged with approving and reapproving counseling providers. This report examines steps USTP can take to develop measures of effectiveness of prebankruptcy credit counseling.

Table of Contents

Preface Summary
Acknowledgments
Abbreviations
Introduction	p. 1
Background	p. 1
Objectives and Approach	p. 3
Organization of This Report	p. 3
Brief History of the Credit-Counseling Industry	p. 5
Review of the Research	p. 7
Review of Credit-Counseling Literature	p. 7
Review of Other, Related Literature	p. 10
Literature on the Effectiveness of Online Instruction	p. 10
Literature on the Effectiveness of Online Training Courses of Shorter Duration	p. 11
Literature on Financial-Literacy Training	p. 11
Literature on the Effectiveness of Prepurchase Homeownership Counseling	p. 12
Conclusions and Recommendations	p. 15
Conclusions	p. 15
Goals	p. 16
Measures of Effectiveness	p. 16
Metrica	p. 16
Mode of Delivery	p. 17
Recommendations	p. 18
Use Upcoming Reviews and Reports to Inform the Process of Moving Forward	p. 18
Consider Other Options to Move Forward While Awaiting Results of Upcoming Events	p. 19
Study-Group Members	p. 21
References	p. 23
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