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Submitted by on Tue, 11/02/2010 - 04:49
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It is compulsory to go through credit counseling before filing Chapter 7 Bankruptcy?


Yes, as per the new Bankruptcy law, people wishing to file for bankruptcy (under Chapter 7 or Chapter 13) must complete a credit counseling program before they are allowed to file a bankruptcy petition.

To add to it, bankruptcy filers must obtain debt management counseling before being allowed to complete the bankruptcy process. In order to comply with these credit counseling and post-discharge debtor education requirements, filers must work with agencies that have been approved by the U.S. Trustee Program (a branch of the U.S. Department of Justice that is responsible for overseeing bankruptcy cases).


Submitted by paulcahill80 on Tue, 11/02/2010 - 08:57

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