Freedom Financial Network Expert Source Available to Discuss Bankruptcy Bill

Impartial Expertise Available to Discuss Bill's Effects for Consumers, Looming Credit Counseling Industry Crisis

(PRWEB) April 18, 2005 -- Bradford Stroh, founder and co-CEO of Freedom Financial Network, LLC, is available to comment on the potential impact of Senate Bill 256, the Federal Bankruptcy Reform bill, now awaiting President Bushs signature.

With the rejection of amendments that would exempt certain consumers, individuals in debt must learn about their remaining options to manage and eliminate debt," Stroh said. Many observers are especially concerned about debt incurred through divorce, medical problems or other catastrophic events, but those consumers do have options."

Stroh can discuss the bills implications, including:
1. What will happen to consumers considering bankruptcy if the bill passes, and particularly, what the means test" will entail for debtors.

2. Critical information on what has been called the perfect storm" -- how bankruptcy reform legislation ties in with the ongoing credit counseling crisis. Internal Revenue Service rulings have begun a potentially widespread rejection of credit counseling agencies non-profit" tax status. These actions could wipe out the non-profit" tax-exempt status of the industry, which comprises virtually the entire industry. The new bankruptcy legislation requires consumers to seek credit counseling before declaring bankruptcy. In addition, most states require credit counseling agencies to be non-profit. Therefore, for most consumers, credit counseling options will be nonexistent after the IRS reforms tax-exempt status and shuts down existing agencies.

3. Remaining alternatives for consumers in debt trouble if the legislation passes. Debt resolution," a fairly new industry in which a specialist negotiates with creditors solely on behalf of consumers, is the only alternative other than self-help.

Before founding Freedom Financial Network, Stroh spent several years in the finance and investment industries. He held the position of vice president for CIVC Partners in Chicago, and was an associate with Doll Capital Management in Palo Alto and TA Associates in Boston. He worked as a business development specialist for Trigo Technologies, Inc. (Palo Alto), and as a consultant with Coopers & Lybrand Consulting (Chicago). He holds an MBA degree from Stanford University and a Bachelor of Arts degree from Amherst College.

Freedom Financial Network, LLC (www.freedomfinancialnetwork.com) provides consumer debt resolution services through its Freedom Debt Relief, Freedom Foreclosure Relief and Freedom Tax Relief divisions. Helping consumers resolve their debts for the least possible personal cost, the companys services offer an alternative to bankruptcy, credit counseling, and debt consolidation. Based in San Mateo, Calif., Freedom Financial Network serves more than 3,000 clients nationwide and manages more than $80 million in consumer debt.

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