Why Is It Beneficial To Acquire Online Credit Counseling Certificate

Posted by OnlineBankRuptCyclass on January 17th, 2014

If you are facing bankruptcy you must be aware about negative factors of this difficult phase of your life. It is a legal process that can successfully eliminate unsecured debt or establish a repayment plan for a portion or all of a consumer’s debts. Bankruptcy is considered a serious option and should only be used as a last resort in cases where there is no other reasonable way to repay debts. It has a negative effect on your credit that may be reported for a period of 10 years. If you have decided to file bankruptcy you must know that it may also affect your ability to obtain credit for home loans or leases, automobile loans leasing a vehicle, credit cards and it may even make it difficult to obtain employment.

However under unavoidable circumstances it is essential to file for bankruptcy. Before filing bankruptcy you need to undertake online credit counseling course. Under federal law, if you are filing bankruptcy you need to acquire this certificate from a non-profit qualified agency duly approved by the United States Trustee before filing for bankruptcy.

It is mandatory to take this class before you file for bankruptcy but the class does not educate the debtors on aspects associated to filing of a bankruptcy, in its place these classes known as credit counseling classes aim to educate the candidates on different available options that may help the debtor from not filing. It also provides a great way to see a snapshot of where you are right now, and great recommendations as to where you want to ideally get to. You can take the class on the internet known as Online Credit Counseling and receive a Certificate of Completion. The 1st class known as the pre-filing credit counseling course or others known it as a bankruptcy class is a fundamental class that teaches you some basics that are useful for budgeting, saving among other topics. After filing bankruptcy, the second course must be taken to ensure that the clients’ debts are discharged known as debtor education course or Personal Financial Management.

Several significant details are clearly explained by online counselors to their clients during the time of the interaction with the Credit Counselor. As part of the course, you will interact with the credit counselor and it will help identify options that work for you and give you valuable recommendations that will help you move forward. My Online Bankruptcy Class provides the debtor with great knowledge in the financial sector and it offers both the Pre-Filing Bankruptcy Class (Credit Counseling Class) and the Pre-Discharge Bankruptcy Class (Debtor Education aka Personal Financial Management). You can be assured of high quality service and cost effective fee structure as it is a Non-Profit Organization.