As you are lightly floating the idea of a potential consumer bankruptcy filing, you may do some quick research on what this process entails exactly. With this, you may continually find resources mentioning a credit counseling course, to be taken before you submit your petition. However, you may be unsure if this is merely a recommendation for first-time debtors or a mandatory step per the United States Bankruptcy Code. Well, to gain some clarity, please read on to discover whether you must attend a credit counseling course before bankruptcy and how a seasoned Rockland County bankruptcy attorney at The Law Offices of Allen A. Kolber, Esq., P.C. can help you meet all necessary eligibility criteria for a successful filing.
Do I need to attend a credit counseling course before filing for bankruptcy?
To put it plainly, a credit counseling course is always the first required step when pursuing a consumer bankruptcy filing. Importantly, you must attend a complete this course within 180 days of your filing date. This is likely no way of getting around this timeline, as you must submit your certificate of completion alongside your bankruptcy papers. A failure to do so may leave the New York State Bankruptcy Court no choice but to automatically dismiss your case, regardless of how dire your current financial situation may be.
That said, it is also worth mentioning that you cannot attend just any course, but rather one pre-approved by the United States Trustee Program. Rest easier knowing that you may look into this list of courses and decide between doing an online, over-the-phone, or in-person one, whichever works best for you and your schedule.
What can I expect to happen in a credit counseling course?
You should not look at a credit counseling course as an obstacle in the way of your initial bankruptcy filing. Instead, you should view it as an opportunity to improve your financial state without having to go through the burden of bankruptcy proceedings at all. This is because a counselor may work with you to create an informal repayment plan for your outstanding creditors, should they find it feasible. They may even go as far as attempting to consolidate your debts, lower your interest rates, or even improve your credit score so that your current financial situation is less of an emergency.
With that, it is best if you walk into your credit counseling course as prepared as possible. This may entail bringing all relevant financial information that shows your income sources, everyday expenses, and outstanding debts. In this way, a counselor may make an accurate budget and offer a fair assessment of how you should proceed forward, with or without declaring bankruptcy.
All of this to say, the time to act is now. Please pick up the phone or message us at The Law Offices of Allen A. Kolber, Esq, P.C. Surely, a competent Rockland County bankruptcy attorney on our team will be the perfect fit for your upcoming bankruptcy case.
