CLIENT DISCLOSURES
1. GENERAL.
The Executive Office of the United States Trustees (“UST”)
and the Bankruptcy Administrators (“BA”) require the Institute
for Financial Literacy (“Administrator”) to disclose certain
information to our clients (“You” or “User”) about
how we operate and how we are funded. If you have any questions about any
of these disclosures, please contact us at 1-866-662-4932 (toll free).
1.1 FUNDING SOURCES.
Administrator is a Non-Profit, 501(c)(3) tax-exempt organization. Administrator
is funded through (1) program service fees, such as those you are paying
for counseling and/or education; (2) private donations from individuals;
(3) donations from corporations; and (4) grants by public and private institutions.
1.2 COUNSELOR QUALIFICATIONS.
Counselors employed by the Administrator are trained by Administrator in
the materials presented and in the National Standards for Adult Financial
Literacy. Initial training lasts approximately six (6) months and includes,
but is not limited to, successfully completing all educational and counseling
programs provided by Administrator to Users. Additional training is conducted
on a monthly basis to ensure You receive the highest quality of service.
Counselors employed by Administrator may be “certified” by
one or more independent bodies offering such certifications, however certification
by such an independent body is not a requirement of employment by Administrator.
If You have a question about the certification of a particular Counselor
you are working with, please ask that counselor for that information, or
ask to speak with a supervisor.
1.3 POSSIBLE IMPACT ON CREDIT REPORTS.
Administrator does not provide any services which can directly impact Your
credit report, either positively or negatively. Administrator will provide
You with information about Your options for dealing with Your creditors.
Any of these options, if exercised by You, may have a significant impact
on your credit report, either positive or negative. Administrator has made
a good faith attempt to provide you with unbiased, neutral information
explaining the likely impact that exercising particular options would have
on your credit report, however Administrator makes no promises, guarantees
or warranties, express or implied, as to the information it provides, or
to the effects or impacts of any described options that may be exercised
by You.
1.3.1 WAIVER OF LIABILITY.
You agree to waive any and all liability on the part of Administrator,
to the extent permissible by law, for any and all actions TAKEN BY YOU
as a result of the information provided to you by Administrator, including
any consequences thereof, whether foreseeable or not foreseeable. You are
NOT WAIVING liability on the part of Administrator for actions TAKEN BY
ADMINISTRATOR. This waiver also has NO EFFECT on Your rights as set forth
in 11 U.S.C. Sec. 111(g) (the United States Bankruptcy Code), which requires
that “A nonprofit budget and credit counseling agency [such as Administrator]
that willfully or negligently fails to comply with any requirement under
[the Bankruptcy Code] with respect to a debtor shall be liable for damages
in an amount equal to the sum of (A) any actual damages sustained by the
debtor as a result of the violation; and (B) any court costs or reasonable
attorneys’ fees (as determined by the court) incurred in an action
to recover those damages.”
1.4 COSTS OF SERVICES. The following price schedule represents the only
possible charges that you will incur from Administrator for counseling
and education. If ANY INDIVIDUAL OR ORGANIZATION, whether or not such individual
or organization is an employee or representative of Administrator, seeks
payment for the Administrator’s services which are not included on
the fee schedule below, which are greater than the amounts set forth on
the fee schedule below, or for which you have already paid, please contact
Administrator IMMEDIATELY at 207-879-0389 or 1-866-662-4932 (toll free)
and request to speak with the Director of Operations.
1.4.1 FEE SCHEDULE.
Description of Service Fee
Single User Credit Counseling $50.00
Financial Education Program $50.00
Joint (User and spouse) Credit Counseling $50.00
Post Filing, Pre-Discharge Education $50.00
Additional Textbook (only if requested by client) $15.00
Additional S&H for additional Textbook $ 5.00
1.5 HOW FEES/COSTS ARE TO BE PAID.
You are solely responsible for the payment of these fees, except as otherwise
required under 11 U.S.C. Sec. 111(c) (the United States Bankruptcy Code),
which requires that “if a fee is charged for counseling services
[or the instructional course], [Administrator must] charge a reasonable
fee, and provide services without regard to ability to pay the fee.” If
You have placed payment for Administrator’s services in the custody
of a Facilitator prior to requesting Administrator’s services, You
authorize us to collect those funds directly from that Facilitator.
1.6 REFUND/RETURN OF PAYMENT.
In the event You are not satisfied with the program for any reason within
90 days of registration, You may request, in writing, a full refund of
any fees paid. The written request should be mailed to: Institute for Financial
Literacy ATTN: CLIENT REFUNDS PO Box 1842 Portland, ME 04104-1842
1.7 OTHER DISCLOSURES.
Administrator does not take, request nor accept funds or money belonging
to User, or owed to User’s creditors, under any circumstances. If
any employee or representative of Administrator attempts to collect such
funds, contact the Administrator IMMEDIATELY at 207-879-0389 or 1-866-662-4932
(toll free) and request to speak with the Director of Operations.