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Bankruptcy Counseling Full Disclosure

Transformance has more than 40 years of experience

of helping people with financial problems



Our role is not to be judgmental, but to provide assistance. Specifically, we will do a budget analysis that will examine your financial situation, discuss the factors that may be the cause of your problems, and explore your options for developing a reasonable plan for dealing with them. We will provide you with information about bankruptcy, including its process and possible consequences. We will also consider alternatives to bankruptcy, including but not limited to negotiating alternative payments, to resolve your problems and review comparative consequences. It is our view that the purpose of this session is to provide you with information so that YOU may chose the option that you think is best. Transformance does offer Debt Management Plan (DMP) services in some states. Should you decide to pursue a DMP, additional fees may apply. Promptly at the conclusion of this session, you will be provided with a certificate that you will need should you decide to file for bankruptcy. The certificate is valid for up to 180 days after counseling was completed. Services are available in English and Spanish.


This agency is a member of the National Foundation for Credit Counseling ("NFCC")


The NFCC has high standards for quality credit counseling and financial education, and this agency complies with those standards. In addition, this agency is accredited by the Council on Accreditation ("COA"), an independent third-party organization that reviews and monitors entities that provide social services. We are a non-profit agency. We are organized and operate in accordance with Section 501(c)(3) of the Internal Revenue Code.


The consumer credit counselor/educator conducting or supervising this session has been trained and certified in accordance with the NFCC standards, and while he/she has expertise in helping those with financial problems, he/she cannot provide you with legal advice. In fact, this session is designed to provide you with information and alternatives; it is not intended to take the place of a consultation with an attorney to explore your legal rights and options.


In order to assist you, it is essential that you provide us with information that is as accurate and complete as possible. For that reason, we may ask you to authorize us to access to your credit history. Rest assured that the information concerning your financial condition and status that you provide during this session is strictly confidential. Such information would include, but is not limited to, income, debts, credit accounts, earnings, assets, and employment data. We will not disclose any such information that you provide orally or in writing to anyone, except as authorized by you in writing or as required by law, such as in response to a subpoena. We may compile data and aggregate information that you give us, but this information will not be disclosed in any manner that would personally identify you. This agency will not disclose or provide any information about this session to a credit reporting agency. If you should decide to enter into a Debt Management Plan (which will be explained in the course of this session) you will be provided with separate agreement and disclosure forms.


Bankruptcy services provided by Transformance are reviewed by the Executive Office of United States Trustees (EOUST)


In an effort to ensure quality of services, EOUST may review individual client information. EOUST does not review or approve additional services provided by Transformance.


To help cover the cost of providing this session to you, this agency charges a fee of $50.00. You may be eligible to have this fee waived if your income is less than 150 percent of the poverty line relevant to your family size. For your convenience, Transformance accepts payments by Debit Card, ACH one time transactions, cashiers checks, money orders, or personal checks.


This agency also receives funding in the form of grants from banks and other financial institutions that support financial counseling, state and federal governmental units, and creditors. A significant portion of funding for this agency comes from voluntary contributions from creditors who participate in DMPs. Since creditors have a financial interest in having debts repaid, most are willing to make a contribution to help fund the overall services of this agency. These contributions are usually calculated as a percentage of payments that are made through a DMP. Again, should you decide to enter into a DMP, you will receive specific information on how the plan works and how the agency if funded. Transformance does not receive or pay fees or other consideration for the referral of debtor students to or by Transformance.


Please Note:
Educators are available in-person for the certification at which time a certificate will be provided.


Transformance is approved to issue certificates evidencing completion of personal financial management instructional course and the pre-bankruptcy credit counseling briefing, respectively, in compliance with the Bankruptcy Code. However, approval does not endorse or assure the quality of Transformance services. If you have any questions, comments or concerns please contact Customer Service at (800) 249-2227 from 8:00 A.M. to 7:00 P.M. Central Time (CT), Monday through Friday and 8:00 A.M. to 4:30 P.M. on Saturday.

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