5 Facts about Credit Counseling and Debtor Education
If you are considering bankruptcy, or if you have begun the steps to file, one of the things you need to be aware of is the credit counseling requirement for those who file for personal bankruptcy. There are a few exceptions to this rule, but most of those who file will have to complete a credit counseling course. You should be aware of the following facts to make sure that you move through the filing process as required:
- Within 180 days (or about six months) before you file, you must complete a credit counseling course. This has only been a requirement since the passage of BAPCPA in 2005.
- You will have to undergo a separate debtor education course between filing and the discharge of your debts.
- For the credit counseling course, you must use an approved non-profit organization.
- You may be exempt from these requirements depending on where you live and the distance to the nearest course offerings.
- Some people qualify for exemptions based on physical or mental limitations, or if they are currently deployed in the military.
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It is important that you fulfill these requirements or claim the proper exemption in a timely manner. There can be so much to figure out when going through the bankruptcy process that it can be overwhelming for debtors. For the legal advice and representation you need, contact the West Palm Beach bankruptcy attorneys of Eric N. Klein & Associates, P.A., at 561-353-2800.
