What You Need To Know About Credit Counseling
Completing a bankruptcy credit counseling session is a requirement in order to file bankruptcy. Both Chapter 7 and Chapter 13 debtors must complete it prior to filing their case. If they do not, their case will be dismissed by the bankruptcy court. The credit counseling provider must be approved by the US Trustee's Office in order to be valid.
The session usually takes about an hour. They will ask you about your income, expenses, and debt. They will prepare a budget for you. All the information you provide to them is for your benefit only, and does not affect your bankruptcy case. Further, they will inform you of ways to rebuild your credit after bankruptcy.
CCadvising.com provides credit counseling for $9.96, provided you complete the session on a computer, and not a mobile device (such as a cell phone or tablet).
You can watch CC Advising's Ultimate Guide to Credit Counseling to learn everything you need to know about the first bankruptcy course!