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.
It’s clear that many simply hit play on the video’s and come back to take the final test at the end. Many have remarked that the answers to the questions are typically common sense answers. But if you actually take your time and review the information you can actually find some helpful advice that you could use in the future. It generally takes an hour or so for the first course before the bankruptcy and a little over an hour for the second portion. If you can’t afford the evaluation you can request a waiver which occasionally is honored. Finally, you’ll need to take the certificate to court that you get when finishing the evaluation.
With your follow up class after the bankruptcy you’ll take classes on managing money and using credit. There is a fee associated with both portions of the course but again you can request financial aid on if you can’t afford it. Don’t be too scared by the prices as many can be found in the thirty dollar neighborhood. You need to get this out of the way as soon as possible upon having your bankruptcy discharged because you don’t need this hanging over your head. You can have trouble with the court if you miss the dead line so be sure to get it handled as soon as possible. Be sure to print a copy for your records and email your attorney a copy as well for his records.
If you haven’t selected a bankruptcy attorney yet you may want to review this article regarding on choosing an attorney. This could save you a lot of aggravation and get many of your questions answered. Always remember most all bankruptcy lawyers offer free consults so be sure to take advantage of their free expertise.
