In order to file for Bankruptcy, you must first take a credit counseling class. The credit counseling class is simple, quick and can be taken in an online course that lasts just an hour. For many people who have been struggling with debt, taking this course is typically the last step before they actually file Chapter 7 or Chapter 13 Bankruptcy to eliminate outstanding debts. The main goal is to prove to the courts that you are proactively taking steps to become better at managing your money and finances.
There are many different companies that offer pre-bankruptcy credit counseling courses online, with varying fees and duration, but they all basically offer the same information. Any Chapter 7 or Chapter 13 bankruptcy attorney in Los Angeles will let you know that you must complete an online credit counseling course in order for them to file the paperwork with the court.
We understand that most of our clients come to us asking for bankruptcy help because of reasons beyond their control. Many times a loss of income, employment or an illness in the family can quickly put someone into debt that they simply cannot afford. While your credit score may be negatively impacted when you first file for bankruptcy, it will quickly start to recover, and you will be able to make purchases and obtain credit within just a few years.
Schedule Your Financial Management Class Now
As we mentioned, there are many different websites and companies that offer credit counseling and financial management classes. The Los Angeles bankruptcy attorney at Consumer Action Law Group often recommend that our clients use DebtorCC.com, one of the leading credit counseling programs offered online. They have a low price of just $9.95 per household, and it takes just about one hour to complete the online course.
We understand how stressful it can be when you have creditors and collection agencies calling you countless times each day. Bankruptcy was created to help people start over, and eliminate debt that will be very difficult, if not impossible to pay off by standard practices. While the term has a negative connotation because of pop culture, bankruptcy in fact helps many people take the first steps need to fix their financial situation.
Life after Bankruptcy
Once you complete your credit counseling course and file for bankruptcy the phone should immediately stop ringing with bill collectors hassling you for money you simply don’t have. After filing for Bankruptcy, you can start to rebuild your credit almost immediately, and will be able to purchase a car after just a couple years, and even a home. Our bankruptcy attorneys in Los Angeles offer free consultations to determine what options work best for you, and can help you to put the past where it belongs starting today.