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Pre-Bankruptcy Credit Counseling

Posted on in Bankruptcy

Frisco bankruptcy attorney

Before a debtor can file for bankruptcy, they must complete a certified credit counseling course. What is this required course, why do you need it, and how can you make it work to your advantage? The following information explains and provides some important details on how an attorney can assist you through the bankruptcy process.

What is Pre-Bankruptcy Credit Counseling?

In pre-bankruptcy credit counseling, debtors speak with an agent about their debts, income, and assets. The goal is to hopefully help the debtor avoid bankruptcy altogether. Of course, this is not always an option. As such, debtors may find the process to be an added but annoying step to their “fresh start.” However, as you will soon discover, it is possible to make this aspect of filing for bankruptcy a useful and beneficial service.

Why Credit Counseling is Required

As previously mentioned, one of the reasons for pre-bankruptcy credit counseling is to filter out individuals who may not need to file for bankruptcy. However, there are other purposes behind this process. For example, debtors can learn how to better manage their assets and debts while working through their bankruptcy filing. This knowledge can be especially important for Chapter 13 filers who may still have debts to pay while waiting for a discharge.

Making Credit Counseling Work for You

Although bankruptcy can help to eliminate some of your debts, not all debts can be discharged. Credit counseling can help you feel more prepared to handle these debts once the bankruptcy process is complete. Furthermore, you can learn some valuable tips and tricks for making the most out of your fresh start. For example, you can learn how to:

 

  • Create and stick to a budget,
  • Manage future debts,
  • Manage any undischarged debts,
  • Settle smaller debts, and
  • Develop a realistic debt repayment plan.

How Our Experienced Frisco, Texas Bankruptcy Lawyer Can Help

Filing for bankruptcy can be a confusing and complex process. Furthermore, debtors may be at risk of an undischarged bankruptcy when they attempt to complete the process on their own. Do not let this happen to you! Hire a competent bankruptcy lawyer for your case.

Backed by more than 25 years of experience, The Page Law Firm is dedicated to helping you make the most of your fresh start. We offer guided assistance throughout the bankruptcy process and we can help you prepare for life after the discharge. Get started by scheduling a personalized consultation with our Frisco, Texas bankruptcy lawyer. Call 214-618-2101 today.

Source:

https://www.consumer.ftc.gov/articles/0153-choosing-credit-counselor

 

 

National Association of Consumer Bancruptcy Attorneys State Bar of Texas
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