When you file bankruptcy, every filer must complete a credit counseling course before submitting your paperwork with the court, and a debtor education course before your bankruptcy will be discharged. Credit Counselling: The “First” Course During the first required course, you will be counseled on your finances and explore alternative repayment options. You will go  … Read more

When you are struggling to pay your bills and are considering bankruptcy, part of the law requires you to take a debtor education course 180 days before submitting your paperwork with the court. You can find a list of approved counselors on the United States Department of Justice website. Be wary of debt counseling and  … Read more

Each year hundreds of thousands of people search out financial counseling to get out from under their overwhelming credit card debt. Add that to the million or so required to take credit counseling before they can proceed with their bankruptcy case, and that is a considerable segment of the population struggling with credit card debt.  … Read more

When the bankruptcy laws changed in 2005, the credit counseling agencies changed from helping set up a budget and financial planning to be a mandated step before your bankruptcy can be completed. Scams Not all credit and debt counseling agencies are legitimate. Some will take your payments and leave you worse off than before you  … Read more

Many bankruptcy filers are more concerned about getting rid of their debt then they are of the credit counseling legally required before your bankruptcy can be closed. Since you have to attend this meeting, you might as well gain some long term benefit from it. Financial Planning When you find yourself overwhelmed in debt, often  … Read more

Many Americans are looking for ways to reduce or eliminate their consumer debt. If bankruptcy  is in your immediate future, you may have to attend a mandatory credit counseling program. Credit Card Industry Some large nationally promoted credit counseling services rely heavily on the credit card industry for financial support. So it stands to reason  … Read more

f you’ve already tried other alternatives to work with your creditors and have been unsuccessful either because the creditors were inflexible or because you were unable to follow through with your payments, it may be time to seriously consider bankruptcy. Credit Counseling Programs If you were unable to maintain the terms of the program in  … Read more

As a requirement to filing bankruptcy, you must take a credit counseling course approved by the US Bankruptcy Courts. You must take this course within 180 days of filing for either Chapter 7 or Chapter 13 bankruptcy in Texas. While this course is relatively quick and painless, the provider of the credit counseling course must  … Read more

Before you can file for Chapter 7 or Chapter 13 bankruptcy, you will be required to complete a credit counseling requirement. This requirement came about during the bankruptcy law changes in 2005, as part of the Bankruptcy Abuse Prevention and Consumer Protection Act. The reason for the credit counseling requirement is to provide consumers with  … Read more

Before you are able to file for bankruptcy (chapter 7 or chapter 13), the law requires you to meet with an approved credit counseling agency. The idea behind this requirement is to see if there is any possible way to work out your existing debts before pursuing Fort Worth bankruptcy. The problem for many people  … Read more