Mandatory Disclosure

  • Chestnut Credit Counseling Services will provide counseling to all segments of the community regardless of ability to pay our fee. Services may be provided at a reduced rate or free, based on the client's ability to pay.
  • Most of the agency's funding comes from voluntary contributions by creditors. Since creditors have a financial interest in getting paid, most are willing to make a contribution to help fund our agency. These contributions are calculated as a percentage of payments made to them. The average contribution is 7%. Your account with your creditor is always credited with 100% of the amount you pay through us. We will work with all of your creditors that are willing to work with us.
  • Chestnut Health Systems/Chestnut Credit Counseling Services does not pay or receive fees or any other consideration for the referral of debtor students to or by Chestnut Health Systems/Chestnut Credit Counseling Services.
  • The Debt Management Plan (DMP) serves the dual role of helping you repay your debts as well as helping creditors collect the money you owe them. The DMP is not applicable for Credit Counseling for bankruptcy or Debtor's Education for bankruptcy.
  • The Bankruptcy Credit Counseling course will be offered without regard to the student's ability to pay the course fee. To apply for assistance, please call 800.615.3022.
  • Credit Counselors have received their high school diploma or Bachelors degree. All are Certified Credit Counselors as recognized by the National Foundation for Credit Counseling (NFCC). All instructors have one or more years experience in Financial Education or Credit Counseling.
  • Involvement with a debt management plan could be reflected on your credit report. In some cases, it could be reflected in a negative way. When you file for bankruptcy, it will become a part of your credit report for the next 10 years. This will negatively impact on your credit score.
  • Fees for Internet counseling are $49.00 - $50.00 and are payable online only via debit card before the course may begin.
  • Certificates will be issued regardless of whether the client enters into a debt management plan with this agency.
  • Chestnut Health Systems/Chestnut Credit Counseling Services (Chestnut) may disclose student's/debtor's information to the United States Trustee in connection with their oversight of Chestnut during an investigation of complaints, during onsite visits or during quality of service reviews. The United States Trustee has reviewed only Chestnut's instructional course and our services as a credit counseling agency. They have not reviewed or approved any other services provided.