Is Bankruptcy Counseling Necessary?

CounselingPreparing for bankruptcy is a big undertaking full of many tasks such as budgeting, filling out paperwork, organizing documents, and saving the money to file. Some people are dismayed when they find out they also need to complete two bankruptcy education courses. While it’s true that these classes are required, the good news is that they’re also simple and educational. This isn’t a punishment, but an opportunity to learn. The courses are intended to get you thinking about money in a different way and to teach you about the best ways to use credit to your advantage.

What Are The Classes?

Bankruptcies are overseen by The Executive Office for the U.S. Trustees (EOUST) and one of their goals is to help people get the most out of their bankruptcy experience. They are also tasked with helping people avoid future financial troubles and bankruptcy. The classes are designed to help with budgeting, debt management, and wise use of credit. I’ll give you a list of the providers I recommend. These companies are reputable and their classes are affordably priced. There are two classes you’ll need to complete:

  • Pre-Filing Credit Counseling – Your first class will need to be completed before you file bankruptcy. This 60-minute class can be completed online and will help you to get a good understanding of your overall financial situation. You’ll also be presented with ideas about budgeting and alternatives to bankruptcy. Once you’ve finished this class, send me your completion certificate and we’ll get your case filed if bankruptcy is still the right choice for you. If you decide not to pursue bankruptcy after this class, I’d be glad to help you make another plan.
  • PostFiling Debtor Education – Once your case is filed, you’ll have the opportunity to evaluate your current financial situation and make plans for the future during this two-hour course. As you click through the screens, you’ll learn about the best ways to re-establish your credit and improve your credit score, as well as get some tips for investing for retirement. The class will also supply you with spreadsheets you can use for budgeting and saving as you get back on financial track. As with the pre-filing class, you’ll get a completion certificate after you’ve taken this class. Just send me a copy of your certificate, and you won’t need to worry about any more classes.

I’m Here to Help

With all the things that need to be taken care of to get your bankruptcy filed and your case settled, it’s a huge help to have a professional bankruptcy attorney working for you. If you’re considering bankruptcy, give me a call. Together we’ll look at your current situation and I’ll offer advice and options for handling your debt.