Should I Be Afraid Of Credit Counseling?

If you have weighed the option of filing for Chapter 7 or Chapter 13 bankruptcy, you have probably been told credit counseling is mandatory. In the right circumstances, credit counseling sessions help debtors figure out if bankruptcy is the best option for eliminating debts. Credit counseling certificates are also required for most people seeking to file for Chapter 7 or Chapter 13 bankruptcy.

After filing for bankruptcy, a second credit counseling session must be taken. The second session will help debtors with money management, use of credit and budgeting.

Credit counseling sessions must be approved by your judicial district. To find out which credit counseling agencies are approved, visit the Department of Justice website. After arriving at the website, select the state where you are filing for bankruptcy. The Sader Law Firm works with an approved credit counseling agency, and services are offered to clients.

What Are Credit Counseling Sessions?

Credit counseling sessions do not have to involve driving out somewhere to sit in a classroom full of other people for hours on end. These sessions are short and easy to take. You could sit at home in front of a laptop, or use your mobile phone to take the classes. In Missouri, very few credit counseling classes are offered in person.

Depending on your ability to pay for credit counseling sessions, fees can be reduced or waived. Credit counseling sessions are not something you can fail, but attendance is mandatory for most people filing for bankruptcy. These courses can help debtors find out if bankruptcy is the best option, in addition to teaching effective methods for responsible use of credit and budgeting.

Although credit counseling sessions can be reputable and useful, an experienced bankruptcy attorney will still be able to tell you if filing for bankruptcy is the best option for resolving your debts.

The Sader Law Firm – Kansas City Bankruptcy Attorneys