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What is this “credit counseling” all about?
Under the changes to the bankruptcy law, you are required to take two “credit counseling courses.” At the completion of each, you will receive a Certificate which our office will file with the Bankruptcy Court. One of the courses is called “CREDIT COUNSELING” and the other is “DEBTOR EDUCATION.”
ROBINSON & RYLANDER, PC., will arrange for you to take both of these courses and help you through the process. Rather than have you meet with a stranger in an office building both the CREDIT COUNSELING and DEBTOR EDUCATION courses can be taken either online in our office, or at home with a computer or by telephone, depending on your personal circumstances. As your lawyers we want to be in charge of the process so that you do not feel at the mercy of these requirements. Don’t worry, no one has failed these courses yet. The courses cost are generally $50.00-$85.00 each although the costs seem to be coming down.
For the “Credit Counseling” you are required to spend approximately 30 minutes with a counselor, providing information about your financial circumstances. Current statistics compiled in the first eight months after the law changed are that 97% of the applicants have passed the test! Those who don’t pass this test are permitted to file a Chapter 13.
For the “Debtor Education” you are required to attend either in person, by the telephone or on the Internet, and you will receive information on how to create a budget, balance a check book, protect yourself from high interest rates, and abuse by creditors. Actually, this could be beneficial for you.
You must take the CREDIT COUNSELING course before you file your bankruptcy and the DEBTOR EDUCATION course after you file. You cannot receive a discharge of your debts unless you have completed the DEBTOR EDUCATION course. You only have 45 days after your first meeting of creditors to do this so do not let it get away from you!
What Are The Steps
To File A Bankruptcy?
