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The Advantage Advisor

Advantage Advisor

Volume 2, Issue 3, 2007

Advantage news

ACCS has been approved by the Executive Office for the US Trustee (EOUST) to expand its pre-filing bankruptcy counseling services to 22 states for consumers who intend to file Chapter 7 or Chapter 13 bankruptcy.

A key provision under the bankruptcy law stipulates that consumers must receive mandatory credit counseling from an approved agency within 180 days prior to filing bankruptcy.

ACCS is now able to serve the following states: Alaska, Arizona, Arkansas, California, District of Columbia, Florida, Hawaii, Kentucky, Louisiana, Nevada, New Mexico, New York, Ohio, Pennsylvania, South Dakota, Tennessee, Texas, Utah, Washington, West Virginia and Wyoming.

“We are excited to be approved to offer our counseling services in 22 states,” said ACCS President and CEO Stephen Piotrowski. “It is a testament to the hard work and quality service that our employees provide to those in need. We look forward to servicing many more people that are contemplating filing bankruptcy,” Piotrowski said.

ACCS has completed over 9,200 bankruptcy counseling sessions since the new law went into effect in October 2005. According to the National Foundation for Credit Counseling (NFCC), “the criteria set forth by EOUST reflect a very strong commitment...to ensure that the counseling and education provisions are substantive in nature and of the highest quality.”

DMP payment tips

The agency recognizes that from time to time our clients experience financial setbacks making it difficult to submit a full payment on time. Should you experience a financial setback, it is important for you to understand how it may affect your Debt Management Program.

What happens if I am late with a payment?

Your creditors expect a payment every 30 days and at the same time each month. If you pay late, the creditors may start to charge full interest, apply late and/or over limit fees to the account or may drop the account from debt management status.

It is important to continue sending your payments to the Agency as creditors expect all payments to be disbursed through us. Consistency is the key to success.

What happens if I cannot make a full payment?

A partial payment is preferable to no payment at all. However, your creditors may still initiate collection calls and discontinue any concessions. Should you make less than a full payment, please include a note with an explanation and attach it to your money order.

What happens if I cannot make my payment?

Please contact our customer service department if you are unable to make your payment. If you miss a payment, creditors may start to charge full interest, apply late and/or over limit fees to the account or drop the account from debt management status. Your account will show past due going forward if the account was current.

In all cases, it is important for you to contact the agency if you are going to be late, need to make a partial payment or are unable to make any payment. We will discuss future payments and offer suggestions on how to deal with your situation based on the creditors that you have on your debt management program.

We need your help

Our staff is very customer service oriented and we are always looking for ideas on how to improve and/or expand our services.

Your input will help us to better serve you.

Do you have any suggestions, concerns or comments about:

Other services you would like us to offer?
Topics to include in the client newsletter?
Educational materials you would be interested in receiving?
Your Debt Management Program?
Any other items or issues?

Please send all ideas, questions, comments or concerns to:

E-mail: info@advantageccs.org or by mail to Advantage Credit Counseling Service,

Attn: Caryn Bilotta, 2403 Sidney Street, Suite 400, Pittsburgh Pennsylvania 15203

Trimming miscellaneous expenses

It’s that time of year again, when “spring cleaning” tops your “to do” list. It doesn’t matter if you need to clean the house, the garage or the yard, you have plenty to do. It is also a good time to take a look at your spending habits and see what areas need your attention.

This is no easy task, though. Trying to figure out where you can trim your expenses is a challenge.

The easiest way to do this is to track your spending for thirty days. This probably will not require a trip to the local discount store to buy any supplies. It can be done by using a piece of paper and a pencil. Quite simply, if you spend money on something, write it down; both the item and the cost—every day.

You need to particularly focus on your miscellaneous expenses. Examples of miscellaneous expenses include: books and newspapers, church contributions, dinner out/fast foods, gifts, pets, tuition and recreation, as well as a variety of other things.

Once you have tracked your spending/expenses for 30 days, you will have a better idea of where your money is going as well as areas that you can trim.

Here are some examples of what you might find in your spending habits and some suggestions as to how to trim them. (Using a May 2007 calendar as reference)

Expense Monthly Cost Yearly Cost Alternative

Coffee* $2.50/day= $55/m $660 bring it from home

Lunch (take-out)* $10/day = $220/m $2,640 brown bag it

Bottled water * $1.50/day= $33/m $396 buy in bulk/fountain

Movie (every Friday) $17/day = $68/m $816 matinee or rent DVDs

Cigarettes** $10/day= $310/m $3,720 cut back/quit/ change brands

Basic Cable TV versus

Standard Cable

$12.15 m

$51.99/m

$145.80

$623.88 Rent movies, read a book

Newspaper .50/day = $11.00/m $132 subscribe or read on-line

*= based on a five day work week/ **= two pack a day habit/

These are just examples of some common spending habits. You will have other additional areas where you spend your money. But now that you see where your money goes, it will be easier for you to concentrate on where you can cut back.

You will be surprised at how easy it is to have extra money in your pocket just by watching what you spend. You may also find that you become used to the changes that you make and that your new found savings is more important. This extra money can be used to start an emergency savings fund, or put toward reaching your financial goals.

Tips for maintaining your DMP

When you enrolled in our debt repayment program, a partnership was formed with you, the agency and your creditors. For a partnership to be successful, all parties must communicate. ACCS offers the following important reminders to help you achieve your debt-free goal.

Open and read your creditor statements monthly. Some creditors and collection agencies do not send monthly statements. We suggest you contact them periodically for balance and payment information.
Send in your entire creditor statements or collection letters every three months. The agency does not receive statements from your creditors.
Notify the agency when you have a change of address or phone number. It is your responsibility to contact your creditors with the same change of information.
Contact us with any change regarding your creditor statement such as a new account number, creditor name change or an account that has been transferred to another creditor.

Please contact us immediately with any questions or concerns: 1-888-599-2227

Media Spotlight

Pittsburgh—KDKA TV—”Placing A Credit Freeze On Your Credit Report” (February 15, 2007)
Pittsburgh—Pittsburgh Post-Gazette— “What You Need To Know About Credit Scores” (March 4, 2007)
Pittsburgh—Murrysville Star— “Credit Issues” (March 7, 2007)
Pittsburgh—KDKA TV— “Credit Card Companies’ Practices” (March 7, 2007)
Harrisburg—Central PA Magazine— “Resolving Debt Issues” (April 2007)
Pittsburgh—Pittsburgh Post-Gazette— “Income Tax Refunds and Payments” (April 1, 2007)

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