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The Credit Counseling Class Requirement for Bankruptcy

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Requirements for Bankruptcy: The Credit Counseling Classcredit counseling class for bankruptcy

One of the requirements for bankruptcy is the completion of two separate classes: the Credit Counseling Class and the Financial Management Class.  The first course is required by the Court to be completed prior to filing the bankruptcy petition.  The second course is required to be completed at any time after your case is filed up to 60 days after the 341 Meeting of Creditors.  Both classes may be completed by telephone, online or by telephone through a number of different providers.

It is important for you to choose a provider very carefully if your attorney does not recommend a particular credit counseling class provider.  It may be your first instinct to select the cheapest provider, and this may be perfectly fine as long as you do a little homework.  There has been an increase lately in class providers offering cheaper and cheaper prices, causing the price of the required classes to range from $40.00 per class down to $6.95 per class.

However, there has also been an increase in concern among the legal community regarding regulation of these businesses.  Some providers are not located within the boundaries of the United States, which makes regulation next to impossible.  In addition, because the locations of some of the providers is beyond the borders of the United States  there is an increasing concern regarding the security of client’s private financial information and the potential for identity theft.  When meeting filing requirements for bankruptcy do your homework and insure any information you are obtaining or providing online is done so in a cautious manner.

If you are interested in learning more about filing for bankruptcy and the credit counseling class requirements contact the Dayton Bankruptcy Attorney, David J. Smith, for a free consultation at (937) 318-1529.  Let me help you obtain your fresh start for a new tomorrow!

 


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