Credit Counseling and Debtor Education Requirements
The bankruptcy laws that went into effect in 2005 added a number of new components designed to provide those experiencing financial hardship with information and education about managing their finances, alternatives to bankruptcy and avoiding similar financial problems in the future. All people filing for bankruptcy must complete two sessions: required credit counseling prior to filing your petition and debtor education after your petition has been filed.
At Walton Legal Services, our Indianapolis credit counseling attorneys help people dealing with an unmanageable debt load get back on the right financial path through consumer bankruptcy filings, including Chapter 7 and Chapter 13. We fully explain the entire process at each step so you know what to expect as your case moves forward.
Walton Legal Services: More than 30 years | More than 30,000 bankruptcies filed
Credit Counseling Before Bankruptcy
The credit counseling session that happens prior to the filing of your bankruptcy petition provides an opportunity to determine whether bankruptcy is the best solution for your circumstances. Your counselor will provide a thorough evaluation of your finances and explore the viability of other potential debt-relief solutions with you. The counselor will also work with you to develop a budget plan. There is a cost for the counseling that may vary slightly from one provider to the next. If you are unable to afford the fee, you may request that it be waived.
Debtor Education Prior to Discharge
The debtor education session must be completed after the filing of your bankruptcy petition. It is a requirement for you to receive the discharge of your debts. These sessions typically include information about building a budget that helps you live within your means, effective money management strategies and how to use credit properly. As with the credit counseling session, there is a fee for the debtor education session that may be waived if you are unable to afford it.
Choose Government-Approved Service Providers
The organizations that provide your credit counseling and debtor education must be approved by the United States Trustee Program, and all participants must receive a certificate showing that they successfully completed the sessions. Before you pay any organization for either of these services, it is important that you make sure that it is an approved provider. Our attorneys can provide you with the resources you need to confirm which organizations in your area are approved.
Contact a Columbus Debtor Education Attorney to Discuss Your Questions
If you are looking for an Indianapolis debt-relief lawyer to help you locate resources for credit counseling and debtor education resources, call one of our Indianapolis law offices, call our Columbus, Indiana, office or contact us online. We offer free initial consultations, and we give you detailed up-front information about our fee arrangements, so there will be no surprises.
We are a debt relief agency. We have helped more than 30,000 people file for bankruptcy relief under the Bankruptcy Code.
