Getting a credit counseling bankruptcy certificate
Posted by OnlineBankRuptCyclass on June 25th, 2014
If you have been following the process for filing for bankruptcy, this must be something that is very familiar to you at the moment for it is a widely mentioned and equally important document in the bankruptcy world. It would be better to get an idea of what you should expect in any class before you really join it and that is why this document is here to explain to you the basics of a credit counseling bankruptcy class.
Credit counseling is a major requirement in bankruptcy filing. It is actually a rule that one should go for this classes in order to qualify to file for bankruptcy. The law that stipulates this is covered in section 109(h) under the bankruptcy code which was revised in 2005 to include it by the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). It states that before filling a bankruptcy case, one should obtain consumer credit counseling from an entity that has been approved by the United States trustee within a period of 180 days to the filling of the case. This is to show that this is a serious requirement and is therefore important to have.
There are many ways that you can obtain this training and the most notable and easy means is via the internet. You can get the credit counseling online certificate from sites that are approved by the US trustee. As mentioned earlier this is a very delicate process and therefore each and every rule should be followed to the latter. In this regard, always ensure that the institution or website or any other choice that you wish to take is approved by the US trustee because they are the regulating body here.
This is usually a very short course that covers a few basics on bankruptcy. There are two main things that are taught there; the first one is on what other choices you can take rather than file for a bankruptcy case. This is usually important as it gives you alternatives that may be viable for your case that may prevent you from going forward with filling the case. The other thing that is done here is the mean test which will help in determining which type of bankruptcy that you can go for. The credit counseling can very much be likened to the bankruptcy pre-discharge course only that they serve different purposes.