Credit Counseling and Bankruptcy
Credit counseling is a crucial part of any bankruptcy case. In fact, it is required that you complete a briefing with a certified credit counseling agency that has been approved by the U.S. Trustee’s Office. Since October of 2005 this requirement has been in place, and a failure to complete credit counseling within 180 days prior to filing may result in the rejection or dismissal of your Chapter 7 or Chapter 13 bankruptcy case. After you complete your credit counseling course, you will receive a certificate of completion that must be filed with your bankruptcy petition.
The average cost for a credit counseling course is approximately $50, but the exact cost may vary depending upon what type of session you undergo and where you live. This briefing may be completed in person, over the phone or online. The basic steps of the briefing will usually include an evaluation of your finances, a personal budget plan and the discussion of alternatives to bankruptcy, if any.
Generally speaking, there are very few exceptions to the requirement that a debtor complete a credit counseling course prior to filing for bankruptcy. Bankruptcy court judges have little to no authority to waive this requirement, so it is important that you discuss this with your attorney prior to filing. A dismissed bankruptcy case may result in your being unable to file for a certain period of time.
Chicago Bankruptcy Lawyer
If you would like to talk to an experienced bankruptcy lawyer about your case and your options in regard to filing for bankruptcy in Chicago, Illinois, take a moment to contact our firm. At the Law Office of Joseph P. Doyle we offer a free initial consultation to talk to you about your bankruptcy case as well as your options for credit counseling.
Interested in learning more about credit counseling and bankruptcy? Contact a Chicago bankruptcy attorney at our firm today. |