Debt Management Answers For You…

With the new laws passed during the last few years in regards
to the filing of chapter 7 bankruptcy, it became law that anyone
filing must first get pre-bankruptcy debt counseling.

The debtor must get counseling and certification from a
non-profit credit-counseling agency before the forms can be
filed for your bankruptcy.

This usually entails one or more counseling sessions and
when completed, certification so you can proceed with the
bankruptcy filing.

There is work you need to do even before you get your
pre-filing credit counseling certification. There are forms
you will need to have filled out during your sessions.

One is the income certification form. This exposes your
income and includes a fee schedule. There is also a budget
form that will need to be filled out. It is pretty
self-explanatory.

With these forms complete, and your certification now
complete, you will need the non-profit credit counselor to
fill out your affidavit and agreement for credit counseling. Your
attorney, along with a copy of your state ID, must also
notarize this form.

All of these forms must be presented to the court clerk before
you begin to file your bankruptcy paperwork along with a notable fee.

Many companies offer this service not only in their office,
but also online with one-on-one telephone counseling
sessions. Once you have completed these steps, you are
ready to file the paperwork with your bankruptcy court.

Be prepared though because following the court process,
there will be another counseling session you must attend.
This time it is a financial planning session, which will
help you get back on track to a financially better future.

Be sure you do ‘due diligence’ regarding bankruptcy rules
and regulations as they can change at any time. Especially
state regulations.