Should I Attend Credit Counseling?
Are you planning to file for consumer bankruptcy in Oak Park? If you are filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy in the near future, you may have done some preliminary research into any steps you will need to take in order to prepare for your bankruptcy case. You might have come across information about credit counseling, and you may be wondering if this is necessary or if you should consider attending credit counseling.
Given that consumer bankruptcy cases have numerous and varied requirements, it is essential to work with an Oak Park consumer bankruptcy attorney who can advise you of all requirements for your bankruptcy case and can ensure that you take all necessary steps in order to be eligible to have your debts discharged. More specifically, a lawyer can explain that credit counseling is not optional but rather necessary, and it is not the only finance class that you must take in order to have your debts discharged.
You Must Complete Credit Counseling Before You Actually File Your Bankruptcy Petition
While you might have spoken with friends or family members about bankruptcy requirements, or you may have conducted your own research on the internet, it is important to remember that there are many myths and misconceptions about the consumer bankruptcy process. One myth that consumers sometimes hear is that they should consider credit counseling before bankruptcy. In fact, before you file for any type of personal bankruptcy, U.S. bankruptcy law requires you to complete credit counseling.
Credit counseling is not an option for learning about how to manage debt in lieu of bankruptcy. Instead, it is a requirement for you to go through the bankruptcy process and to have your debts discharged. You are required to complete credit counseling within the 180-day period before you file for bankruptcy. Then, usually within 14 days from the time you file for bankruptcy, you will need to provide the bankruptcy court with certification of your completed credit counseling. The credit counseling must be provided by an approved agency. The U.S. Trustee Program provides a list of approved credit counseling agencies that you can use to complete your credit counseling. You will need to pay a small fee, but you may be able to have it waived if you cannot afford it.
You Will Need to Complete a Separate Debtor Education Course Later
The credit counseling requirement is not the only education requirement of a consumer bankruptcy case. In addition to credit counseling, you will need to complete a separate debtor education course later. The debtor education course cannot be completed at the same time as the credit counseling. Rather, you must complete your debtor education course after you have filed for bankruptcy and prior to having your debt discharged. In order for your debt to be discharged, you will need to provide certification of your completed debtor education course.
Similar to credit counseling, you must attend a course with an approved provider. You can find a list of approved debtor education providers from the U.S. Trustee Program.
Contact an Oak Park Bankruptcy Lawyer
Whether you have questions about credit counseling and debtor education course requirements or you have questions about other consumer bankruptcy requirements, one of the Oak Park bankruptcy attorneys at our firm can assist you. Contact the Emerson Law Firm for more information.
See Related Blog Posts:
Inflation and Consumer Bankruptcy
Converted, Closed, and Dismissed Bankruptcy Cases: What is the Difference?
Given that consumer bankruptcy cases have numerous and varied requirements, it is essential to work with an Oak Park consumer bankruptcy attorney who can advise you of all requirements for your bankruptcy case and can ensure that you take all necessary steps in order to be eligible to have your debts discharged. More specifically, a lawyer can explain that credit counseling is not optional but rather necessary, and it is not the only finance class that you must take in order to have your debts discharged.
You Must Complete Credit Counseling Before You Actually File Your Bankruptcy Petition
While you might have spoken with friends or family members about bankruptcy requirements, or you may have conducted your own research on the internet, it is important to remember that there are many myths and misconceptions about the consumer bankruptcy process. One myth that consumers sometimes hear is that they should consider credit counseling before bankruptcy. In fact, before you file for any type of personal bankruptcy, U.S. bankruptcy law requires you to complete credit counseling.
Credit counseling is not an option for learning about how to manage debt in lieu of bankruptcy. Instead, it is a requirement for you to go through the bankruptcy process and to have your debts discharged. You are required to complete credit counseling within the 180-day period before you file for bankruptcy. Then, usually within 14 days from the time you file for bankruptcy, you will need to provide the bankruptcy court with certification of your completed credit counseling. The credit counseling must be provided by an approved agency. The U.S. Trustee Program provides a list of approved credit counseling agencies that you can use to complete your credit counseling. You will need to pay a small fee, but you may be able to have it waived if you cannot afford it.
You Will Need to Complete a Separate Debtor Education Course Later
The credit counseling requirement is not the only education requirement of a consumer bankruptcy case. In addition to credit counseling, you will need to complete a separate debtor education course later. The debtor education course cannot be completed at the same time as the credit counseling. Rather, you must complete your debtor education course after you have filed for bankruptcy and prior to having your debt discharged. In order for your debt to be discharged, you will need to provide certification of your completed debtor education course.
Similar to credit counseling, you must attend a course with an approved provider. You can find a list of approved debtor education providers from the U.S. Trustee Program.
Contact an Oak Park Bankruptcy Lawyer
Whether you have questions about credit counseling and debtor education course requirements or you have questions about other consumer bankruptcy requirements, one of the Oak Park bankruptcy attorneys at our firm can assist you. Contact the Emerson Law Firm for more information.
See Related Blog Posts:
Inflation and Consumer Bankruptcy
Converted, Closed, and Dismissed Bankruptcy Cases: What is the Difference?
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