Dear FLORENCE ZERBARINI,

We would like to thank you for choosing DebtorCC.org for your pre-filing bankruptcy counseling.
Now that you have completed the course, we don’t want you to dwell on the past but instead we
encourage you focus on building a healthy financial future. We sincerely hope that you use the
budgeting skills that you have learned in this program.

In this completion package, we have included the following:

• Detailed financial assessment
• Analysis of your current financial condition
• Plan to help you with your current financial condition
• Important resources
• Worksheets

If you have any questions or would like to discuss any topics in further detail, please call 1 (800)
610-3920 to speak to a credit counselor. We are available Monday - Friday 9am to 9pm EST.

Sincerely,
Credit Counseling Team
DebtorCC.org
 Financial Assessment & Your Current Financial Condition

Your monthly Net Income is: $2301.00

Your monthly Expenses are: $2559.00

Housing: $620.00
Utilities: $239.00
Food: $440.00
Transportation: $215.00
Clothing: $40.00
Healthcare: $300.00
Entertainment: $65.00
Personal: $480.00
Others: $160.00

Your monthly net disposable income: -$258.00

It seems that your net disposable income is negative. This means that your income is not sufficient
to cover your monthly expenses. To turn things around, you need to constantly work on managing
your budget. Track your expenses every month and determine where your money is being spent
and see where you can make cuts. The same way that you have listed your income and expenses
during the course, you should do that at the end of every month. This will allow you to rework your
income and expenses to achieve a positive net disposable income.

The following is a guideline that provides an idea of what percentage of your income you are
spending on various expense categories.

Expense Category Recommended Range (%) Amount You Spend (%)

Housing 30% 26.94%
Utilities 5% 10.39%
Food 15% 19.12%
Transportation 10% 9.34%
Clothing 5% 19.12%
Healthcare 10% 13.04%
Entertainment 5% 2.82%
Personal 10% 20.86%
Other 10% 6.95%
According to the chart above, the following is a comparison of the dollar value of the amount of
money you spend in the various expense categories and the amount of money that is
recommended that you spend based on your monthly income. Use this chart as a guide to help you
determine where you should be focusing on saving money.

Expense Category Recommended Range ($) Amount You Spend ($)

Housing $690.3 $620.00
Utilities $115.05 $239.00
Food $345.15 $440.00
Transportation $230.1 $215.00
Clothing $115.05 $40.00
Healthcare $230.1 $300.00
Entertainment $115.05 $65.00
Personal $230.1 $480.00
Other $230.1 $160.00

As we can see from the chart above, you are exceeding in the
following categories:

Utilities:
You are exceeding on the utilities category. We need to focus on the things you can do to cut down
on those expenses. Simple things like shutting off the lights or unplugging appliances when they are
not in use will certainly help. Many people forget to turn off their computers, and that will help save
some money. You can also call your utility company to see if there are any savings they can
provide. I also suggest that you call your cell phone company and see if there are any savings they
can provide - with all the competition between cell phone companies, they'll likely provide you some
savings to keep your business.

Food:
You are exceeding in the food category. This one is simple to take control of. As we discussed in
the course, be sure to cut coupons, take advantage of sales, and don't pass the store brands by.
Remember to go to the supermarket with a plan so you don't end up overbuying unnecessary items.
You should be spending about 15% of your income on this category. Also remember to keep
eating-out to a minimum.

Healthcare:
It seems that your healthcare costs are over what would be recommended for your budget.
Typically, the budget for healthcare should be 10% of your income every month. An excellent way
to save on healthcare is to shop for an insurance company that is more suitable to your needs. You
may also consider speaking to your employer for better options for your choosing health insurance.
If you are taking prescription medications, you might benefit financially from opting to take generic
medication as opposed to brand name.

Personal:
Your spending in the personal spending category is also higher than we would recommend for your
current budget. Expenses in this category are typically for things such as haircuts, beauty products,
etc. What we would recommend you do in order to save money in this category is visiting your local
beauty school/barber school to get haircuts, color and other beauty services. Beauty schools/Barber
Schools typically offer services performed by students at little cost (typically 1/3 the price of a
normal salon) in efforts to help their students learn. This would help reduce the expenses
associated with this category. Remember, this category is typically a want versus a need. You may
want to hold off spending in this category or try to substantially reduce your spending in this
category until you see more of a positive monthly net disposable income.

Your Total Assets: $700.00

Your Total Liabilities: $0.00
Your Net Worth: $700.00
As per your selection during the course and your discussion with a credit
counselor, the reason(s) for your financial hardship is/are:

• Job Loss/Reduced Income

• Medical/Accident/Disability
• Credit Card Debt

Plan to Help You with Your Current Financial Condition

Now that we have determined the cause of your financial hardship, the following are suggestions to
help you with your current financial condition.

Job Loss/Reduced Income: Whether you have lost your job or you are making less money than
you were making before, you have options to help you. There are several ways to cope without
digging yourself into a deeper hole. Remember to save for a rainy day by setting up an emergency
fund. If you run into a similar problem in the future, you can use that money to keep you afloat until
you find an alternate source of income. Be sure to keep this money off-limits until you need it. If you
lost your job due to circumstances beyond your control, be sure to look into unemployment benefits.
In many states, unemployment benefits also come with a host of reemployment resources such as
websites, workshops and seminars. Taking a part time job or a lesser paying job temporarily may
also be something you should consider. If you are looking for job opportunities, we recommend a
website called www.careeronestop.org, this is an excellent site to build a resume and cover letter as
well as look for positions. In addition, we recommend setting up a free profile on LinkedIn. Many
employers now review social media presence as a requisite to offering a position.

Medical/Accident/Disability: If you have medical issues or have been involved in an accident, you
may not be able to work. The loss of income can result in financial difficulty. You need to search for
an alternate source of income. The presence of the Internet allows individuals to work from home.
Websites such as ebay.com will allow you to earn a source of income from home. Although most
people don’t think they will need disability insurance, to avoid a similar situation in the future, you
should consider purchasing disability insurance. It is designed to replace anywhere from 45-60% of
your gross income on a tax-free basis should a sickness or illness prevent you from earning an
income in your occupation. If you don’t already have health insurance, we highly recommend that
you obtain coverage.

Credit Card Debt: When using credit cards it’s important to track your spending and be sure that
you can pay back how much your charge on the cards. When using credit cards, remember to use
them for pre-planned, budgeted items. If you don’t have a plan, don’t use the credit card. You
should record your spending by using a manual tracking system (paper or excel spreadsheet) or
online tools such as mint.com. Always pay your credit card balance in full at the end of each month.
If you carry over a balance from month to month, stop using your card immediately. You should also
limit the number of credit cards that you use. The more cards you have, the easier it is for you to
lose track of spending. At this point, you may contact your creditors directly to determine if they will
provide a repayment plan. You may also explore a debt management plan (DMP) or consider filing
for bankruptcy.
 Important Resources

Credit Report:

www.annualcreditreport.com
Free Annual Credit Report.

www.creditkarma.com
Access to a free credit score. This website lets you manage your accounts all in one place.

www.equifax.com
1-800-685-1111

www.experian.com
1-888-397-3742

www.transunion.com
1-800-888-4213

Homeowner:

www.bankrate.com
Offers mortgage rates, home loans, refinancing, credit cards, and CD rates and personal finance
advice.

www.hud.gov
Information on avoiding foreclosure, purchasing a home, and applying for grants.

www.liheap.ncat.org
Federally funded program that helps low-income households pay their home heating and cooling
bills.

Budgeting Websites & Mobile Apps

www.billguard.com
You can add up to 3 credit or debit cards for free. It helps with billing disputes and helps spot “gray”
charges which you may miss (e.g., a recurring payment you didn’t authorize), provides analytics on
your spending, searches the web for coupons based on your spending, etc.
www.mint.com
Free website and phone application that organizes and categorizes your spending. It allows you to
track your spending.

www.splitwise.com
Free website and phone application that makes sharing expenses easy. If you live with a roommate
or regularly go out with friends, it keeps track of your spending and will help ensure fairness when it
comes to spending.

Consumer Information:

www.bbb.org
Better Business Bureau.

www.ftc.gov
The FTC website has a wide array of information available. If you have questions about anything
from buying your first home to dealing with identity theft, you’ll likely find the answers you need
there.

www.kbb.com
Kelley Blue Book is a vehicle valuation and research website. It’s a good idea to visit this website
prior to buying a new or used car.

www.iii.org
Insurance Information Institute.

Bankruptcy Information:

www.uscourts.gov/FederalCourts/Bankruptcy.aspx
The United States Bankruptcy Court website provides information about filing bankruptcy.

Job Help Websites:

www.ajb.org
U.S. Department of Labor’s sponsor website for job searches, training, education, etc.

www.dol.com
Department of Labor website. Provides assistance in preparing a resume.
www.doleta.gov
Information on unemployment insurance and job training. Provides layoff assistance.

Government Benefits & Assistance:

www.benefits.gov
Informs citizens of the benefits they may be eligible for and how to apply for assistance.

www.feedingamerica.org
Food bank locator.

www.fns.usda.gov
US Department of Agriculture’s Food and Nutrition service. Information on applying for benefits.

www.hhs.gov
U.S. Department of Health & Human Services.

www.homelessshelterdirectory.org
Homeless shelter locator.

www.liheap.org
Federally funded program that helps low-income households pay their home heating and cooling
bills.

www.sba.gov
U.S. Small Business Administration.

www.ssa.gov
Social Security Administration.

Student Loans:

www.ed.gov
Student loan repayment info.

Help Groups:

www.aa.org
Alcoholics Anonymous.
www.debtorsanonymous.com
Debtors Anonymous.

www.gamblersanonymous.com
Gamblers Anonymous.

www.spenders.org
A 12-step program to help people who have a spending problem.

Depression & Suicide:

www.hopeline.com
Suicide prevention website.

National Suicide Hotline: 1-800-SUICIDE (784-2433) OR 1-800-442-HOPE (4673)

 Worksheets: Monthly Budget
Individual Spouse

Income from employment:

Income from 2nd employment:

Alimony:

Child Support:

Government Assistance:(Social
Security, Disability,Other)

Rental Income:

Other Income:

Total Net Monthly Income (add all of

the numbers here):
 Worksheets: Monthly Expenses
Housing Individual Spouse

Rent or Mortgage:

Equity Loan /2nd Mortgage (including

taxes, insurance, and association
fees):

Home Maintenance(lawn care, new

rood, etc.):

Utilities Individual Spouse

Electricity:

Gas for home:

Water/Sewer:

Trash:

Cell Phone:

Home Phone:

Internet:

Transportation Individual Spouse

Gas for car(s):

Car Maintenance(oil change, repairs,

parking):

Car Payment(s):

Car Insurance:

Public Transportation:

Food Individual Spouse

Groceries:

Dining Out(lunch, restaurants, etc.):

Health Individual Spouse

Health Insurance:

Co-Payments:

Prescription Costs:

Dental Insurance:

Vision Insurance:

Disability Insurance:

Personal/Entertainment Individual Spouse

Personal (tobacco, alcohol, etc. ):

Beauty (barbershop, salon, etc.):

Subscription (magazines, newspapers,

memberships):

Clothing:

Entertainment (movies, vacation,

rentals, hobbies):

Miscellaneous Expenses Individual Spouse

Laundry / Dry Cleaning:

Charity:

Gifts:

Child Care / Elder Care:

Education Related Expenses:

Child Support:

Payment on other installment loans:

Pet Expenses:

Your Total Monthly Expenses

Are:(Added up all the above
numbers)
 Worksheets: Monthly Disposable Income
The goal is to have your net monthly disposable income be a positive number.

Individual Spouse

Your Total Monthly Income:

Your Total Monthly Expenses:

Your Monthly Disposable Income=

(Total Monthly Income-Total
Monthly Expenses):
 Worksheets: Net Worth
By carefully listing assets and liabilities, you will quickly come to learn how to make these items work in terms of
meeting short term cash needs as well as planning longer term financial goals.

Assets Individual Spouse

Current Value of Home:

Other Real Estate:

Automobiles:

Checking / Savings Account:

Cash:

Certificate of Deposits:

Current Value of 401K (other

retirement accounts):

Other:

Total Assets (Please add up all the

asset amounts):

Liabilities

Mortgage:

Other Mortgage/Secured Debt:

Auto Loans:

Credit Card Debt:

Student Loans:

Total Liabilities (Please add up all

the Liability amounts):

Your Net Worth (Please subtract

your total assets from total
liabilities):
 Worksheets: Personal Financial Goal Setting
Use this worksheet to write down your goals. The more frequently you see your goals in writing, the better chance you
will have of achieving them.
STRATEGY FOR
TIME FRAME GOAL
REACHING

Short-Term ______________________ ______________________

Medium-Term ______________________ ______________________

Long-Term ______________________ ______________________

______________________________________________________________________________________________

Short-Term ______________________ ______________________

Medium-Term ______________________ ______________________

Long-Term ______________________ ______________________

______________________________________________________________________________________________

Short-Term ______________________ ______________________

Medium-Term ______________________ ______________________

Long-Term ______________________ ______________________

______________________________________________________________________________________________

You may repeat this for as many goals as you have.

Short-term Goals are those that can be achieved within a one month to a one-year time period.
Medium-term Goals are those that can be achieved within a one to five year time period.
Long-term Goals are those that can be achieved in five years or more.