Iowa State University Extension

Problem:
Bankruptcy filers need to improve basic financial skills so they can weather financial crisis. Beginning in October 2005, bankruptcy law required filers to participate in a financial education class before the bankruptcy can be discharged.

Response:
ISU Extension developed a 2-hour course, Planning to Stay Ahead, to meet this requirement and received approval from the U.S. Trustees to implement the course. The program is offered as a face to face workshop taught by the Family Resource Management Specialist. Course content is presented through Power point and hands on activities on the topics of tracking and planning spending, meeting occasional expenses, using credit wisely, shopping for insurance, and consumer decision making. The Planning to Stay Ahead program has been marketed to local attorneys as a way for clients to fulfill the financial education component now required through bankruptcy filing. Several local attorneys refer all their clients to the ISUE program rather than other options offered on-line.

Impact:
Between April 2006 and March 2009, 42 bankruptcy filers (including 16 individuals and 14 couples) in SW Iowa have completed the course and received certificates. End of meeting evaluations returned by 27 participants indicated:
- 100% felt the course content was relevant to their life
- 100% planned to use a budget at home
- 96% thought the learning materials were helpful
- 96% learned something they can use

Written comments from participants included:
• Much better than I would have ever thought
• Class was very helpful with good information
• I was dreading the class but shouldn’t have because I felt very comfortable and Mary Beth was very helpful
• Very good class. Hopefully, we can make a budget work for us and get back on track.

Contact:
Mary Beth Kaufman
Shelby County Extension
906 6th Street
Harlan, IA 51537
712-755-3104
mbkaufma@iastate.edu