Part of the stipulations involved in filing for bankruptcy is that debtors complete a credit counseling course. One of the topics covered in this course are a review of all debt relief options, including those outside of bankruptcy. The idea is to equip the debtor with the information needed to make an informed decision about their finances. However, anyone considering filing for bankruptcy does not have to wait until filing to obtain this education.
Knowledge Is Key
Credit counseling courses are open to anyone looking for ways to better manage their finances, or simply learn about financial matters. From budgeting and saving, to investments or debt relief, credit counseling companies can provide a wide array of information. These courses are available online or in-person and typically last about 90 minutes, a small investment of time for a lifetime of financial knowledge.
Finding the right credit counselor isn’t too difficult, but there are some companies who may not be as qualified to provide services as others. It is important to find a reputable company that meets the standards of the US Department of Trustees, especially if the course is required as part of a bankruptcy. A legitimate company will operate as a non-profit organization and charge minimal fees for services.