Credit Counseling for Bankruptcy like it or not is here to stay. It is now part of the new chapter 13 bankruptcy rules as well as chapter 7 for anyone who files.. You must go through a certified credit counseling program in order to be approved for bankruptcy.  In most cases the class isn’t going to be anything revolutionary unless you are among those who have next to no sense when it comes to knowing what the root problem was in causing your situation.

Obviously the issuer of counseling course must be approved from the government. You must complete one class within a six month period before filing your bankruptcy and another class within six months after your bankruptcy has been discharged.  There might be some benefits to this new bankruptcy rule for some people but unfortunately statistics show that hasn’t had any sort of impact is lessening the amount of bankruptcies being filed as of late. This may be in part that many offer an online version of the course which many can skim over and pass without much effort.

During the counseling process that takes place before your bankruptcy is discharged, you will do a personal evaluation on your finances and look at options other than bankruptcy if there are any. Now mind you when they say its a counseling process there typically isn’t a person you’re going to be talking with in person or over the phone unless you want there to be. Most just simply opt for the online version which includes a video and periodic quizzes that a elementary kid could answer. Read the full article →