Over recent years, there have been some changes to bankruptcy laws, one of which requires anyone filing for bankruptcy to complete a credit counseling course. The 2005 Bankruptcy Abuse Prevention and Consumer Prevention Act mandates that individuals filing for bankruptcy complete a 90 minute course covering the risk factors for ending up in debt and debt elimination options that are available. This course must be completed within the six months prior to filing for bankruptcy. Filing a Chapter 7 bankruptcy requires participation in an additional debtor education course which includes topics such as budgeting, using credit wisely and managing personal finances.
How hard will the course be ?
Each course is designed to be an online, slow paced course that will walk you through the process. There won’t be any tests to take or written essays. So don’t stress, these courses are designed to be tools to prepare you for a better financial future.
How do I know where to find these courses?
Contacting a qualified bankruptcy attorney can make the entire bankruptcy process much easier. The attorney will help you enroll in an approved credit counseling course and will even file your certificate of completion with the court on your behalf. There are also numerous online resources for finding an approved credit counseling course. The most important thing is to use a legitimate agency that is approved by the Executive Office of the United States Trustee.
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