Executive Office for U.S. Trustees to Address Credit Counseling Conference about the Current Status of Bankruptcy Reform at 6 Month Mark

Henry Hobbs, Assistant U.S. Trustee for the Executive Office for United States Trustees (EOUST), will be a featured speaker at the American Association of Debt Management Organizations’ (AADMO) Spring Conference in Austin, Texas on May 16 & 17, 2006.

(PRWEB) April 21, 2006 -- Henry Hobbs, Assistant U.S. Trustee for the Executive Office for United States Trustees (EOUST), will be a featured speaker at the American Association of Debt Management Organizations’ (AADMO) Spring Conference in Austin, Texas on May 16 & 17, 2006.

The EOUST is responsible for the re-approval of credit counseling agencies currently providing pre-filing counseling and debtor education programs that must be completed by bankruptcy filers before they may receive a discharge from the court. The requirements are all part of the new bankruptcy reform legislation -- “The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA)” -- that went into effect on October 17, 2005.

Mr. Hobbs will discuss the status of re-approvals, applications and approvals, the details of the applications and the application process and the relationship to state laws. He will be available to discuss surety bond amount offsets and credits, employee bonds/fidelity insurance amount offsets and credits, counseling session content and duration, certificate security and form, fee levels, what constitutes “ability to pay”, reporting, notifications and audits.

“This is an important program for all credit counseling agencies to attend if they want to learn about the current status of counseling in bankruptcy reform. The applications, approval and re-approval processes are complex, call for compliance with a significant number of requirements and carry substantial disclosure obligations. Information provided in applications may be subject to public review and can carry penalties for false information. Not knowing the requirements of the law and the procedures for approval may delay or cause the rejection of a credit counseling agency’s application”, said Mark Guimond, Executive Director of the AADMO.

“This process has had many challenges for credit counseling agencies. If agencies are currently approved for bankruptcy reform counseling they can learn what the future may hold. If agencies are considering becoming a pre-bankruptcy filing counseling agency this is their opportunity to learn and ask questions,” added Guimond.

The AADMO Spring Conference will also feature the following sessions:

*Transferring Clients and Assets from 501(c)(3) CCAs: What You Need to Know to Stay Out of Jail!
Speaker:    Jeffrey Tenenbaum, Venable

*New Legal Models for Credit Counseling Agencies: Planning for the Future
Speaker:    Jeffrey Tenenbaum, Venable

*Privacy and Information Security
Speaker:    Carla Stone Witzel, Gordon-Feinblatt

*Relating to Regulators: Building Positive Relationships With State Regulators While Protecting Your Company’s Interests
Speaker:    Robby Birnbaum, Greenspoon Marder

*Knowing and Understanding the NEW Law of Mississippi
Speaker:    Theresa Brady, Deputy Commissioner, Mississippi Banking Department

*Knowing and Understanding the Law and Regulations of Montana
Speaker:    Cort Jensen, Assistant Attorney General

*Are You Making Non-Conformances Work For You? Managing Document Control and Using Customer Satisfaction Surveys
Speaker:    Mandy Eden, M. Eden Consulting

*Could You Be Reducing Your Bond Costs? Factors Used to Evaluate Bond Applicants
Speaker:    Jason Jenkins, Alpha Surety & Insurance

*The Current Status of Bankruptcy Reform and Credit Counseling at the 6 Month Mark and Agency Renewal Time
Speaker:    Henry Hobbs, Assistant U.S. Trustee, Executive Office for U.S. Trustees

*Knowing and Understanding the Law of Texas and the Possibility for Change
Speaker:    Leslie Pettijohn, Texas Consumer Credit Commissioner

*Knowing and Understanding the Law of California
Speaker:    Wayne Strumpfer, Acting Commissioner, CA Department of Corporations

*The New Law of Utah: Knowing and Understanding the NCCUSL "Uniform Debt Management Services Act" as the Law of the Land
Speaker:    Michael Greenfield, Walter D. Coles Professor of Law, Washington
University School of Law & NCCUSL Drafting Committee Reporter

The AADMO Spring Conference program and registration information can be found at www.AADMO.org.

ABOUT AADMO
AADMO is the largest trade association for the credit counseling and debt management industry. Nationwide, the majority of licensed and legally operating credit counseling agencies are members of AADMO.

AADMO is an industry education and advocacy organization whose mission is to promote and ensure the continued operation and viability of credit counseling and debt management organizations. AADMO provides its members and the consumer public with information about the credit and debt counseling industry.

AADMO members are consumer credit counseling agencies, debt management organizations, credit counselors, personal finance educators, credit and debt information educators, consumer lawyers and many others.

AADMO is the only trade association to have held state law compliance workshops with the New York State Banking Department and the California Department of Corporations upon enactment of their respective laws governing credit counseling and AADMO is the only trade association for the industry to publish a formal summary of state laws that has been reviewed by state regulators.

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