PRESS RELEASE

Dallas - October 14, 2009 - Consumer Credit Counseling Service of Greater Dallas (CCCS of Greater Dallas), a nonprofit provider of free budget and credit counseling and financial education, continues to see a rise in bankruptcy counseling sessions since the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was initiated on October 17, 2005. This is the fourth year the agency has served as a provider of counseling and education required by BAPCPA.

From 2006 to 2008, CCCS of Greater Dallas saw a 36-percent increase in bankruptcy counseling. As of June 2009, 25,893 Texans have filed for bankruptcy in 2009 and 693,550 nationwide. This year, CCCS of Greater Dallas has already counseled several thousand individuals as part of the certification process for filing bankruptcy.

"Many Americans are still facing financial turmoil caused by the recession. For those whose only option is to seek bankruptcy, we want to make sure they are educated and empowered to reach financial independence in the future," said Todd Mark, vice president of education for CCCS of Greater Dallas. "Our certified counselors will guide consumers through the required process, but also educate them on how to make wise financial decisions and emerge a stronger consumer after bankruptcy."

In 2005, BAPCPA set new standards now required for all individuals filing bankruptcy. Individual debtors who file bankruptcy must receive credit counseling from an Executive Office for U.S. Trustees (EOUST) approved counseling agency within 180 days of filing, and complete a financial management education course prior to the bankruptcy being discharged. From 2005 to 2008, CCCS of Greater Dallas has provided bankruptcy counseling and education to more than 10,000 individuals in its 22 offices located in Texas, Oklahoma, Colorado and New Mexico.

As a result of the bankruptcy-related counseling, consumers reported improved financial knowledge by as much as 40 percent, at least in the short-term, and most of those consumers say they plan to apply their new knowledge by setting budgets and making more prudent decisions about spending.

"Without proper education and counseling, consumers going through the bankruptcy process could easily end up in trouble again," Mark said. "Our goal is to empower people with knowledge on how to make life-changing habits that will help prepare them for life's unexpected events and prevent further financial disaster."

CCCS of Greater Dallas offers the pre-filing bankruptcy counseling in person or by phone. The counseling session usually lasts 90 minutes. The financial education course is provided in-person, by phone, or online, and is about two hours in length.

CCCS of Greater Dallas provides the counseling and education required by law, and will neither suggest nor oppose bankruptcy. All CCCS of Greater Dallas bankruptcy counselors are certified by the National Foundation for Credit Counseling.

CCCS of Greater Dallas is approved to issue certificates in compliance with the Bankruptcy Code. Approval does not endorse nor assure the quality of an agency's services.

About CCCS of Greater Dallas
Consumer Credit Counseling Service of Greater Dallas, Inc. is a nonprofit, community based credit counseling and debt management service. Established in 1974, CCCS of Greater Dallas and its affiliate offices provide financial education and counseling to consumers in-person, by phone, or Internet through their 24 locations in four states. CCCS of Greater Dallas is a HUD approved housing counselor and serves as one of eight counseling agencies supporting the 888-995-HOPE Hotline. The agency is also a member of the National Foundation for Credit Counseling (NFCC), the nation's largest and longest serving national non-profit credit counseling network. To learn more about CCCS of Greater Dallas' free seminars or the agency's services, visit www.cccs.net.