ness of the financial management training curriculum and
materials developed under subsection (a).
(2) For a 1-year period beginning not later than 60
days after the date of the enactment of this Act, such cur-
riculum and materials shall be made available by the Di-
rector, directly or indirectly, on request to individual debt-
ors in cases filed in such 1-year period under chapter 7
or 13 of title 11 of the United States Code.
(3) The bankruptcy courts in each of such districts
may require individual debtors in such cases to undergo
such financial management training as a condition to re-
ceiving a discharge in such case.
(c) EVALUATION.—(1) During the 1-year period re-
ferred to in subsection (b), the Director shall evaluate the
effectiveness of—
(A) the financial management training curricu-
lum and materials developed under subsection (a);
and
(B) a sample of existing consumer education
programs such as those described in the Report of
the National Bankruptcy Review Commission (Octo-
ber 20, 1997) that are representative of consumer
education programs carried out by the credit indus-
try, by trustees serving under chapter 13 of title 11
of the United States Code, and by consumer coun-
selling groups.
(2) Not later than 3 months after concluding such
evaluation, the Director shall submit a report to the
Speaker of the House of Representatives and the Presi-
dent pro tempore of the Senate, for referral to the appro-
priate committees of the Congress, containing the findings
of the Director regarding the effectiveness of such curricu-
lum, such materials, and such programs.
SEC. 113. DEFINITIONS.
(a) DEFINITIONS.—Section 101 of title 11, United
States Code, is amended—
(1) by inserting after paragraph (2) the follow-
ing:
‘‘(3) ‘assisted person’ means any person whose
debts consist primarily of consumer debts and whose
non-exempt assets are less than $150,000;’’;
(2) by inserting after paragraph (4) the follow-
ing:
‘‘(4A) ‘bankruptcy assistance’ means any goods
or services sold or otherwise provided to an assisted
person with the express or implied purpose of pro-
viding information, advice, counsel, document prepa-
ration or filing, or attendance at a creditors’ meeting
or appearing in a proceeding on behalf of another or
providing legal representation with respect to a pro-
ceeding under this title;’’; and
(3) by inserting after paragraph (12A) the fol-
lowing:
‘‘(12B) ‘debt relief counselling agency’ means
any person who provides any bankruptcy assistance
to an assisted person in return for the payment of
money or other valuable consideration, or who is a
bankruptcy petition preparer pursuant to section
110 of this title, but does not include any person
that is any of the following or an officer, director,
employee or agent thereof—
‘‘(A) any nonprofit organization which is
exempt from taxation under section 501(c)(3)
of the Internal Revenue Code of 1986;
‘‘(B) any creditor of the person to the ex-
tent the creditor is assisting the person to re-
structure any debt owed by the person to the
creditor; or
‘‘(C) any depository institution (as defined
in section 3 of the Federal Deposit Insurance
Act) or any Federal credit union or State credit
union (as those terms are defined in section
101 of the Federal Credit Union Act), or any
affiliate or subsidiary of such a depository insti-
tution or credit union;’’.
(b) 
CONFORMING
AMENDMENT.—In 
section
104(b)(1) by inserting ‘‘101(3),’’ after ‘‘sections’’ the first
place it appears.
SEC. 114. DISCLOSURES.
(a) DISCLOSURES.—Subchapter II of chapter 5 of
title 11, United States Code, is amended by adding at the
end the following:
‘‘§ 526. Disclosures
‘‘(a) A debt relief counselling agency providing bank-
ruptcy assistance to an assisted person shall provide the
following notices to the assisted person:
‘‘(1) the written notice required under section
342(b)(1) of this title; and
‘‘(2) to the extent not covered in the written no-
tice described in paragraph (1) of this section and
no later than three business days after the first date
on which a debt relief counselling agency first offers
to provide any bankruptcy assistance services to an
assisted person, a clear and conspicuous written no-
tice advising assisted persons of the following:
‘‘(A) all information the assisted person is
required to provide with a petition and there-
after during a case under this title must be
complete, accurate and truthful;
‘‘(B) all assets and all liabilities must be
completely and accurately disclosed in the docu-
ments filed to start the case, and the replace-
ment value of each asset as defined in section
506 of this title must be stated in those docu-
ments where requested after reasonable inquiry
to establish such value;
‘‘(C) current monthly total income, pro-
jected monthly net income and, in a chapter 13
case, monthly net income must be stated after
reasonable inquiry;
‘‘(D) that information an assisted person
provides during their case may be audited pur-
suant to this title and that failure to provide
such information may result in dismissal of the
proceeding under this title or other sanction in-
cluding, in some instances, criminal sanctions.
‘‘(b) A debt relief counselling agency providing bank-
ruptcy assistance to an assisted person shall provide each
assisted person at the same time as the notices required
under subsection (a)(1) with the following statement, to
the extent applicable, or one substantially similar. The
statement shall be clear and conspicuous and shall be in
a single document separate from other documents or no-
tices provided to the assisted person:
‘‘ ‘IMPORTANT INFORMATION ABOUT BANK-
RUPTCY ASSISTANCE SERVICES FROM AN AT-
TORNEY OR BANKRUPTCY PETITION PREPARER
‘‘ ‘If you decide to seek bankruptcy relief, you can
represent yourself, you can hire an attorney to represent
you, or you can get help in some localities from a bank-
ruptcy petition preparer who is not an attorney. THE
LAW REQUIRES AN ATTORNEY OR BANKRUPTCY
PETITION PREPARER TO GIVE YOU A WRITTEN
CONTRACT SPECIFYING WHAT THE ATTORNEY
OR BANKRUPTCY PETITION PREPARER WILL DO
FOR YOU AND HOW MUCH IT WILL COST. Ask to
see the contract before you hire anyone.
‘‘ ‘The following information helps you understand
what must be done in a routine bankruptcy case to help
you evaluate how much service you need. Although bank-
ruptcy can be complex, many cases are routine.
‘‘ ‘Before filing a bankruptcy case either you or your
attorney should analyze your eligibility for different forms
of debt relief made available by the Bankruptcy Code and
which form of relief is most likely to be beneficial for you.
Be sure you understand the relief you can obtain and its
limitations. To file a bankruptcy case, documents called
a Petition, Schedules and Statement of Affairs, as well
as in some cases a Statement of Intention need to be pre-
pared correctly and filed with the bankruptcy court. You
will have to pay a filing fee to the bankruptcy court. Once
your case starts, you will have to attend the required first
meeting of creditors where you may be questioned by a
court official called a ‘‘trustee’’ and by creditors.
‘‘ ‘If you select a chapter 7 proceeding, you may be
asked by a creditor to reaffirm a debt. You may want help
deciding whether to do so.
‘‘ ‘If you select a chapter 13 proceeding in which you
repay your creditors what you can afford over three to
seven years, you may also want help with preparing your
chapter 13 plan and with the confirmation hearing on your
plan which will be before a bankruptcy judge.’
‘‘ ‘If you select another type of proceeding under the
Bankruptcy Code other than chapter 7 or chapter 13, you
will want to find out what needs to be done from someone
familiar with that type of proceeding.
‘‘ ‘Your bankruptcy proceeding may also involve liti-
gation. You are generally permitted to represent yourself
in litigation in bankruptcy court, but only attorneys, not
bankruptcy petition preparers, can represent you in litiga-
tion.’.